Burgundy Diamond Mines Ltd. announced that it has elected not to exercise the Option Deed with Gibb River Diamonds Ltd. to acquire 100%
ownership of the Ellendale and Blina projects (together the "Ellendale Diamond Project") in the West Kimberley region of Western Australia. Burgundy will therefore cease development of the project immediately. Burgundy has elected to instead focus on completion of the acquisition and integration of the Ekati Diamond Mine ("Ekati") into its portfolio, located in Canada's Northern Territories and purchased from the Arctic Canadian Diamond Company Ltd.