XLD Xceldiam

RNS Number:7465W
Xceldiam Limited
11 January 2006

Xceldiam Limited

("Xceldiam" or the "Company")



Year-end operational update



Xceldiam, the Angolan diamond exploration and mining company, with its primary
operations focused on alluvial and kimberlite exploration on the Luangue
Concession in North East Angola, today announces its year-end operational
update.



*        Formal approval of the kimberlite exploration programme gained from
         Endiama

*        Operational developments on the Luangue Concession, Angola, are
         progressing as planned

*        Alluvial sampling has been initiated

*        Kimberlite drilling has been mobilised and is expected to commence this
         month





Xceldiam's alluvial exploration programme has been progressed with the
initiation of observation pit sampling.  A second mobile prospecting plant, with
a six tonnes per hour capacity, has been procured.  This will accelerate the
alluvial programme by facilitating small scale sampling work in advance of the
20 tonnes per hour bulk sampling plant, allowing bulk sampling work to focus on
more prospective target gravels.



The kimberlite exploration programme has progressed over the last two months
with the mobilisation of the kimberlite drilling programme.  Gem Drilling, a
contract drilling company with extensive Angolan kimberlite experience, has been
appointed to commence drilling of the prioritised targets that have been
identified.  This drilling will allow for core sampling - a precursor to bulk
sampling - which will be used to confirm, firstly, if the anomaly is
kimberlitic; and secondly, by recovering and analysing kimberlite indicator
minerals, whether they are of a diamondiferous nature.



The focus of both work programmes for the next six months will be along the
Luangue River corridor.



A second low level geo-magnetic survey will be undertaken by helicopter early in
the second quarter of 2006 to further define the previously identified targets
and direct the exploration focus for the second half of 2006.  The area selected
for this work is 220km2 in size and encompasses 24 target anomalies identified
in the initial airborne survey work carried out last year.



Formal approval by Endiama of the kimberlite exploration programme has provided
the impetus for further construction at the exploration camp.  The camp is to be
expanded and will now accommodate engineering and support services in addition
to the geological staff currently based there.  The balance of the earthmoving
equipment procured in the fourth quarter of 2005 has arrived in Angola and will
be deployed on site in January 2006.



Tim George, Chief Executive Officer and Chairman, commented:



"The momentum behind both of our exploration programmes is gaining impetus.  We
are well positioned to make 2006 a year for significant operational progress
that should start to unlock the remarkable value that this concession presents."











                                                                 11 January 2006

For further information, please contact:


WH Ireland                                                  Tel: 0161 832 2174
David Youngman
College Hill                                                Tel: 0207 457 2020
Ben Brewerton / Nick Elwes



www.xceldiamgroup.com



Notes to Editors:



About Xceldiam



*          Xceldiam was admitted to AIM in November 2005 at 45p under the share
code XLD.



*          The Company's current activities are concentrated on primary source
projects; specifically an exploration programme for diamondiferous kimberlites
in the Luangue Concession. This concession, which is approximately 3,000 km
(2),is located within the diamond bearing kimberlite belt known as Lucapa Graben
and is the Company's most advanced exploration interest. In addition, a separate
but concurrent exploration programme, on the same concession, to identify
alluvial diamond deposits is underway. The valuable Catoca mine is situated some
70 km north east of the Luangue Concession and the highly prospective Alto Cuilo
Concession, operated by Petra Diamonds Limited and BHP Billiton plc lies
immediately south of the Luangue Concession.



*          Previous exploration in the area by Condiama in the early 1970s
identified eight kimberlites, at least four of which are diamondiferous, which
were under evaluation at the time Angola's civil war commenced and curtailed
further activities.



*          In May 2005, Xceldiam completed a low level 22,000 line kilometre
airborne magnetic, radiometric and topographic survey over the Luangue
Concession which identified over 70 kimberlitic type anomalies, adding to the
eight kimberlites originally identified in the early 1970s.



*          Xceldiam has a management team with practical diamond mining industry
experience, the depth of which will allow growth potential in a variety of
projects over the long term.  The team also has extensive logistical,
development and operating experience in Angola.



*          The Company aims to entrench and progress the opportunities available
to it within the Luangue Concession, creating significant value for all
shareholders whilst contributing to the communities within which it operates.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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