Marine Miner obtain diamond prospecting rights

Panda Marine has obtained prospecting rights under contract from its founder and CEO Mr. Kobus Pansegrouw. Mr.Pansegrouw was awarded prospecting rights in terms of section 17(1) of the Minerals and Petroleum Resources Development Act, 2002 (Act 28 of 2002) (MPRDA) during August 2006. Execution of the Right was delayed due to a heavy workload at the Department of Minerals and Energy. Panda Marine has been on site since January 2007 and will now be able to commence mining activities.

The prospecting area (one of only 21 concession areas) consists of approximately 118 sq. kms of sea bed and is situated opposite the Groen River mouth on the South African West Coast, where it is renowned that larger concentrations of diamonds are found. Diamonds were washed down into the coastal area from older, inland terrestrial terraces, by ancient river systems over millions of years. The diamond deposits along the West Coast are estimated to be in excess of 1.5 billion carats, of which 90-95% are gem quality.

PANDA MARINE Mining and Exploration is a public company and the owners of intellectual property relating to submersible robotics and equipment for the harvesting of marine diamonds. For more about marine mining and mining shares, www.pandamarine.co.za