Rio Tinto Exploration Canada (RTEC) announces that it has acquired 108,204,112 common shares in the capital of Star Diamond Corporation (SDC) in exchange for its entire interest in the Fort à la Corne joint venture ("FalC Joint Venture Interest").

As a result, RTEC now controls, in total, 119315222 common shares representing a 19.9% interest in SDC.

Prior to the transaction, RTEC held a 75% interest in the Fort à la Corne joint venture and 11111110 common shares in SDC.

Under the terms of the agreement, RTEC sold its entire interest in the FalC joint venture to SDC, resulting in RTEC owning 19.9% of SDC's issued and outstanding common shares on a non-diluted basis.

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