XLD Xceldiam

RNS Number:1063A
Xceldiam Limited
21 March 2006


                                Xceldiam Limited
                         ("Xceldiam" or the "Company")

                                 AIM: XLD, XLDW


Kimberlite & Alluvial exploration update


Xceldiam, the Angolan diamond exploration and mining company, with its
operations focused on alluvial and kimberlite exploration on the Luangue
Concession in North East Angola, is pleased to announce a further update on its
exploration programme.


The 70 tonne per hour ("tph") MB70 and 6tph G6000 mobile alluvial diamond
sampling plants were shipped from Cape Town on 26th February and the 6th March
respectively.  The MB70 has arrived in the Port of Luanda, and the G6000's
arrival is scheduled for this week.  Following clearing through the port, the
plants will be transported over 900km to the Luangue Concession where site
preparation is underway.  The 20tph DMS and Flow Sort diamond recovery plant
have also been completed and were shipped on the 19th March.


A recent identification of garimpeiro (artisanal miners) activity near the town
of Luangue is a hugely positive discovery.  Large numbers of garimpeiros were
extensively mining the metre thick alluvial gravels adjacent to the Canguvo
River.  The gravel in the Canguvo is mature but has entrained coarse ilmenites
(a kimberlite indicator mineral), indicating that a primary source exists in the
catchment area.  The gravel distribution, as well as the size and content of the
ilmenites, indicates that the primary source is in close proximity.  Furthermore
the river system in the area determines that this primary source is distinct
from the primary sources associated with the other alluvial deposits discovered
to date.  The site has been cleared and secured.


Xceldiam's on site management team has been enhanced by a number of recent
appointments, which are expected to expedite both the alluvial and kimberlite
exploration programme. These include:

-   A new chief geologist Rolando Palaganos, who has 15 years experience
    in Angola having recently worked for ITM at Camatue;

-   Johan van Breda as the mining engineer, who has formal open pit
    experience as well as two years operational experience in Angola;

-   Angolan national Rui Franco as the kimberlite geologist, with
    extensive Angolan kimberlite experience.


Observation pitting continues on the alluvial programme, whilst the next major
phase of the kimberlite programme will be undertaken with the low level high
resolution helicopter survey which is on schedule for May.


Tim George, Chief Executive Officer and Chairman, commented:

"The team has prepared well for the commissioning process in collaboration with
our partners Endiama and Bapsil.  Recruitment of the additional skilled staff
necessary for the expansion of activities has been achieved timeously and is a
key component in ensuring the success and integrity of the sampling phase."

                                                                   21 March 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


About Xceldiam

Xceldiam was admitted to AIM in November 2005 at 45p per share under the share
code XLD and with listed warrants trading under the code XLDW.


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.  Xceldiam has a 39% and 40%
interest in the kimberlite and alluvial projects respectively.


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 to create 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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