Peregrine Diamonds Ltd.   announced recently that it had completed  the process   to acquire all of the shares of Diamexstrat Botswana (Proprietary) Ltd. (DES Botswana), a privately held Botswana-registered company, from Diamond Exploration Strategies Limited, a UK-registered private company (DES UK).

With this transaction, Peregrine gets control of DES Botswana's primary assets - eight diamond Prospecting Licences that cover 5,746 km2 in Botswana.

"Working with the principals of DES Botswana, Peregrine has put together a cost-effective and focused exploration programme for 2015. Peregrine's VP, Technical Services, Dr. Grütter and the DES Botswana team have done a tremendous job in using our extensive and proprietary Botswana database to identify high priority targets in this mature diamond-producing terrain,” commented Tom Peregoodoff, Peregrine’s President and CEO.

He added: “The work programme will commence in July and the drilling is expected to commence in September."

Under the agreement between Peregrine and DES UK, announced on March 30, 2015,   ownership of DES Botswana and all of its assets will be transferred to Peregrine “in consideration for the grant by Peregrine of a 1% gross overriding royalty (the "Royalty”) to DES UK on all precious stone mineral interests held at the time of closing and those which may be acquired in the future in specific target areas”. Further, Peregrine said: “The agreement allows for Peregrine to purchase the Royalty at various milestones as detailed on March 30, 2015.”

The Company has identified four priority kimberlite targets, where drill testing will be carried out as part of the 2015 Botswana diamond exploration programme. “The total budget for the 2015 work programme is approximately CDN$ 300,000,” the Company disclosed.