News Gem International | Angola Diamond Mining Investment

Press Release 2016

Sept. 19, 2016  |  Gem International Arranges $3M Private Placement

Vancouver, British Columbia, Canada, September 19, 2016 – Gem International Resources Inc. (the “Company”) (TSXV: GI) wishes to announce that it intends to carry out a private placement raising proceeds of $3,000,000 for the sale of up to 30,000,000 units at a price of $0.10 per unit.  Each unit will consist of one common share and one non-transferable share purchase warrant for the purchase of one further common share of the Company within two years of the date of grant at the price of $0.20 per such common share.

The funds shall be used for the Company’s working capital, the preparation of documents for regulatory approval of the Company’s option agreement pertaining to the Dala diamond exploration project in Angola as previously announced (the “Transaction”) and business operations of the Company following the completion of the Transaction. The Financing is subject to regulatory approval and customary resale restrictions.

The maximum allowable finder’s fee shall be paid in cash, shares or warrants in accordance with the policies of the TSX Venture Exchange. 

On behalf of the Board of
Gem International Resources Inc.

Per:

“Simon Tam”
Simon Tam, Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Sept. 16, 2016  |  Gem International’s Operating Partner Engages Senior Consultant for Dala Project, Angola

Vancouver, British Columbia, Canada, September 16, 2016 – Gem International Resources Inc. (the “Company”) (TSXV: GI) reports that its operating partner Global Gems International Limited (“Global”) has engaged Dr. Ian Ransome as a technical consultant for the work programs on the 3,000 sq. km. Dala alluvial diamond mining license in Lunda Sul Province, Angola.

Dr. Ransome has over 20 years of African operating experience in a number of commodities, and extensive operating, management, and consulting experience in diamond related projects in Angola and several other African countries. His past work has included kimberlite and alluvial diamond deposit exploration, evaluation and mining.

His skill sets include familiarity with numerous types of diamond exploration evaluation and production techniques. He is multilingual and he will be an important addition to Global’s operating team at Dala.

About Dala

Dala is located in the heart of a highly prospective and productive diamond region of Angola, only 20 kilometres south of the world-class Catoca diamond mine, the world’s fourth largest, and immediately adjacent to the regional centre of Saurimo. Dala is an early stage project with excellent potential for the discovery and development of both alluvial and kimberlite deposits. Two of the area’s most productive alluvial diamond hosting rivers, Luachimo and Tchicapa flow northward through the license with over 100 km of combined drainage length, and there are numerous areas of currently active artisanal diamond production along these drainages and their tributaries.

Denis Hayes the Company’s CEO stated:

” We are delighted to learn that Global has added Dr. Ransome to their team. We are looking forward to working with him to develop the diamond potential of Dala in the coming months.”

On behalf of the Board of
Gem International Resources Inc. 

“Denis Hayes”
Denis Hayes, CEO & Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-LookingStatements
Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings, equipment commissioning processes and other transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.

Aug. 23, 2016  |  Gem International Provides Updates on the Dala Project, Lunda Sul, Angola

Vancouver, British Columbia, Canada, August 23, 2016 – Gem International Resources Inc. (the “Company”) (TSXV: GI) reports that its operating partner Global Gems International (“GGI”) has started the initial work program to begin evaluation and production of diamonds from high priority areas highlighted as favorable for hosting alluvial diamond deposits on the 3,000 sq. km. Dala alluvial mining license in Lunda Sul Province, Angola.

Dala is located in the heart of a highly prospective and productive diamond region of Angola, only 25 kilometres south of the world-class Catoca diamond mine, the world’s fourth largest, and immediately adjacent to the regional centre of Saurimo. Dala is an early stage project with excellent potential for the discovery of both alluvial and kimberlite deposits. Two of the area’s most productive alluvial diamond hosting rivers, Luachimo and Tchicapa flow northward through the license with over 100 km of combined drainage length, and there are numerous areas of currently active artisanal diamond production along these drainages and their tributaries.

Work Program 

The Company and GGI have started the initial field and technical programs to prioritize startup areas for alluvial gravel testing. This includes establishment of a camp logistics base in Saurimo, as well as procurement of mining, diamond production and infrastructure equipment. Over 30 high priority areas have been identified where there are classic trap sites in active drainages and accumulations of river gravels preserved in old meanders and terraces. Observation of the extensive active and historical artisanal work areas by local garimpeiros at Dala indicate that extensive areas of Calonda Formation may be present. The Calonda Formation is a regional basal gravel and sheet wash unit in the Lunda Provinces that is often very diamondiferous and productive.   

Data Acquisition  

The Company is in the process of reviewing an extensive database of information for both alluvial and kimberlite exploration by a previous operator at Dala with the objective of acquiring this information to assist the current work. With data for over 900 alluvial sample sites and extensive information from kimberlite exploration this database will speed up the ability to prioritize initial work areas. It is known that at least 5 new kimberlite pipes were located at Dala and numerous other untested kimberlite targets are known to be present. The alluvial diamonds currently being mined there are likely to have sources in diamond bearing kimberlites on the Dala License. GGI staff is also reviewing and have access to, all known technical data for Dala held by Endiama the Angolan state diamond organization. It is known that historical alluvial sampling data from over 900 sites on the license are available, as well as information filed by a previous company for their kimberlite exploration program. This information will be invaluable in determining high priority area to begin the work program.

A diamond recovery plant is being sourced will be installed on site later this season. The smaller volume gravel pumping operations will utilize jig type diamond recovery equipment using an x-ray recovery system on the concentrates and all tailings will be passed over diamond grease tables as a final recovery procedure. Oversize waste will be stockpiled for later processing. It is known that diamonds of over 40 carats in weight have been recovered at Dala from the artisanal operations and the recovery procedures will be set up to maximize the ability of the system to recover larger stones . A rigorous diamond security system will be implemented for all stages of the diamond recovery operations. 

  1. Lee Barker P.Eng, P. Geol., a qualified person under National Instrument 43-101 has reviewed and approved the technical contents of this release.

On behalf of the Board of
Gem International Resources Inc. 

Per: “Denis Hayes”
CEO & Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. 

Forward-Looking Statements

Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings, equipment commissioning processes and other transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.

July 27,2016  |  Grants Incentive Stock Options

Vancouver, British Columbia, Canada, July 27, 2016 – Gem International Resources Inc. (the “Company”) (TSXV: GI) announces the granting of 2,100,000 incentive stock options to certain directors, officers and consultants. These options are exercisable for up to three years at a price of $0.15 per share.

On behalf of the Board of
Gem International Resources Inc.

“Simon Tam”
Simon Tam, Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

July 25, 2016  |  Completes Second Tranche of Private Placement

Vancouver, British Columbia, Canada, July 25, 2016 – Gem International Resources Inc. (the “Company”) (TSXV: GI) announces that further to its news release dated June 2, 2016, the Company has closed the second tranche of its non-brokered private placement through the issuance of 8,000,000 units at a price of $0.05 per unit for gross proceeds of $400,000. Each unit consists of one common share and one share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one common share of the Company for a term of two years from the date of closing at a price of $0.15 per share.

All of the securities issued under the private placement are subject to a four-month hold period expiring November 23, 2016.

The Company has now completed the non-brokered private placement consisting of the issuance of a total of 24,120,000 units for gross proceeds of $1,206,000.

On behalf of the Board of Directors,
Gem International Resources Inc.

“Simon Tam”
Simon Tam, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

June 2, 2016  |  Private Placement Closed

Private Placement Closed

Vancouver, British Columbia, Canada, June 2, 2016 – Gem International Resources Inc. (the “Company”)  (TSXV: GI) has closed the first tranche of the non-brokered private placement previously announced on March 29, 2016 and May 12, 2016  through the issuance of 16,120,000 units at a price of $0.05 per unit for gross proceeds of $806,000. Each unit consists of one common share and one share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one common share of the Company for a term of two years from the date of closing at a price of 15 cents per share. All of the securities issued under the private placement are subject to a four-month hold period expiring October 1, 2016.

Gem International Resources Inc.

Simon Tam
Director

Disclaimer and Cautionary Statement Regarding Forward-Looking Information

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

May 12, 2016  |  Gem International Resources Inc. Announces Increase In Private Placement Offering

Gem International Resources Inc. Announces Increase In Private Placement Offering

Vancouver, British Columbia, Canada, May 12, 2016 – Further to its news release of March 29, 2016, Gem International Resources Inc. is increasing its offering from $800,000 to an offering of up to $1,225,000 for the sale of up to 24.5 million units at a price of five cents per unit. Each unit will consist of one common share and one non-transferable share purchase warrant for the purchase of one further common share of the company within two years of the date of grant at the price of 15 cents per such common share. Finders’ fees shall be payable in cash. A portion of the net proceeds ($300,000 (U.S.)) shall be used for a non-refundable deposit used by Global Gems for the establishment of office, staff and geologist infrastructure. The balance of the funds shall be used for National Instrument 43-101 report writing fees, research fees, legal fees for supporting legal opinions, audit fees and travelling expenses for corporate travel to raise balance financing to finance the first phase of work estimated at $1.95-million (U.S.), as well as to provide unallocated working capital. The company intends to seek regulatory approval for a first-tranche closing of approximately $800,000 shortly.

On behalf of the Board of Directors,
Gem International Resources Inc.

“Simon Tam”
Simon Tam, CEO and Director

Disclaimer and Cautionary Statement Regarding Forward-Looking Information

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

April 11, 2016  |  Gem International Hires Barker As Advisory Committee Consultant

Gem International Hires Barker As Advisory Committee Consultant

Vancouver, British Columbia, Canada, April 11, 2016 – Lee Barker, MSc (applied), PEng, PGeol, has joined Gem International Resources Inc.’s technical advisory committee as a consultant. He will advise management and the exploration and productions teams formed to explore and develop the company’s mineral properties.

Currently president and chief executive officer of Sparton Resources Inc., a public company listed on the TSX Venture Exchange, Mr. Barker has over 50 years experience in the resource sector and has held senior management positions in several junior and major mining companies, where he was involved in the discovery and development of a number of base, precious metal and industrial mineral deposits, including diamonds.

Between 1990 and 2007, Mr. Barker was closely involved in the exploration, discovery, evaluation and development programs of significant diamond deposits in Canada, South Africa, Angola and parts of South America. He initiated and supervised the early exploration program at the Diavik project near Lac de Gras in the Northwest Territories, which led to the discovery of over 60 kimberlite bodies. Diavik is now one of the world’s premier diamond producers and Canada’s richest diamond mine.

Mr. Barker also has extensive experience in exploration, development and production of alluvial and kimberlite-hosted diamond deposits in Europe and South America. As well, in sub-Saharan Africa, he has explored for and developed deposits in Angola, South Africa, DRC (Democratic Republic of the Congo), Zambia, Sierra Leone, Burkina Faso and Namibia.

In the Lunda provinces of Angola, Mr. Barker acted as project manager and consultant to several kimberlite and alluvial diamond evaluation and production operations. These include Chiri, Catoca, Luo, Camafuca, Camutue, Luarica and Cassanguidi, where he has advised various clients, including Ascorp, the Angola diamond-selling organization.

“I am confident that Mr. Barker, with his wealth of knowledge and expertise in all aspects of the diamond pipeline and extensive operating experience, will provide the company with the additional talent that the company needs for developing its projects,” said Simon Tam, chief executive officer and director of the company.

On behalf of the Board of Directors,
Gem International Resources Inc.

“Simon Tam”
Simon Tam, CEO and Director

Disclaimer and Cautionary Statement Regarding Forward-Looking Information

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. 

March 31, 2016  |  Gem International Resources director Chen resigns

Gem International Resources director Chen resigns

Vancouver, BC, March 31, 2016:  Gem International Resources Inc. has not completed the Jan. 12, 2016, appointment of Rupert Baring to the board. The company will not proceed with his appointment as a member of the board.

The company also announces that Tai Chen has resigned as a director of the company, and the board would like to thank Mr. Chen for his contribution and wishes him well in his future interests.

On behalf of the Board of Directors,
Gem International Resources Inc.

“Simon Tam”
Simon Tam, CEO and Director

Disclaimer and Cautionary Statement Regarding Forward-Looking Information

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

Mar 30, 2016  |  Gem International clarifies cash option payments in March 29 News Release

Gem International clarifies cash option payments in March 29 News Release

Vancouver, BC, March 30, 2016:   Further to its news release of March 29, 2016, Gem International Resources Inc. is making the following clarification:

In exchange for the option, the company has agreed to, over a two-year period, make aggregate cash option payments of $800,000 (U.S.) (including $300,000 (U.S.) being the initial working capital as part of the exploration expenditures), issue an aggregate five million common shares of the company to the vendors and contribute an aggregate of $5-million (U.S.) toward the exploration expenditures.

On behalf of the Board of Directors,
Gem International Resources Inc.

“Simon Tam”
Simon Tam, CEO and Director

Disclaimer and Cautionary Statement Regarding Forward-Looking Information

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

March 29, 2016  |  Gem International Resources Inc. Announces New Letter Agreement For Proposed Acquisition Of Global Gems International Limited

Gem International Resources Inc. Announces New Letter Agreement For Proposed Acquisition Of Global Gems International Limited

Further to its news release of Sept. 23, 2015, Gem International Resources Inc.’s letter agreement with Global Gems International Ltd. for an option to acquire 50 per cent of the issued and outstanding shares of Global Gems has been terminated. Concurrently, the company has entered into a new agreement with Global Gems for an option to acquire 91.5 per cent of the issued and outstanding shares of Global Gems and thereby attain 91.5 per cent of a 45-per-cent interest in the Dala project. The Dala project is located south of Saurimo, the capital of the Lunda Sul province in Angola. In exchange for the option, the company has agreed to, over a two-year period, make total cash option payments of $800,000 (U.S.), issue a total of five million common shares of the company to the vendors and contribute a total of $5-million toward the exploration expenditures.

The company also reannounces that it is continuing to raise private placement proceeds of $800,000 for the sale of up to 16 million units at a price of five cents per unit. Each unit will consist of one common share and one non-transferable share purchase warrant for the purchase of one further common share of the company within two years of the date of grant at the price of 15 cents per such common share. Finders’ fees shall be payable in cash. A portion of the net proceeds ($300,000 (U.S.)) shall be used for a non-refundable deposit used by Global Gems for the establishment of office, staff and geologist infrastructure. The balance of the funds shall be used for National Instrument 43-101 report writing fees, research fees, legal fees for supporting legal opinions, audit fees and travelling expenses for corporate travel to raise balance financing to finance the first phase of work estimated at $1.95-million (U.S.), as well as to provide unallocated working capital.

The Dala project

The Dala concession covers an area of 3,000 square kilometres within the heart of the highly prospective and productive diamond region of Angola, only 25 kilometres south of the world-class Catoca diamond mine. Dala represents an early stage project with excellent potential for the discovery of both alluvial and kimberlite deposits. Previous exploration conducted by Moydow Mines International Inc. (a public company listed on the Toronto Stock Exchange and AIM) between 2004 and 2008 included a 15,000-line-kilometre airborne geophysical survey over the entire concession and 102 follow-up ground magnetic survey grids. A total of 29 compelling exploration targets were identified from this work, of which 11 were drill tested resulting in the discovery of four kimberlite pipes. Moydow abandoned the project in early 2009 in response to the significant negative impacts on the exploration and mining industry stemming from the global financial crisis.

From an alluvial perspective, the Dala concession has two of the most prominent diamond-mineralized rivers in Angola flowing through it, namely the Tchicapa and Luachimo Rivers, and exposure to over 100 kilometres of prospective river length to explore and evaluate. Evidence for the presence of alluvial diamond mineralization is provided by the presence of garimpeiro activity (local artisanal miners) at numerous locations along both rivers, together with verbal reports of the recovery of large high-value diamonds from these operations (the company recognizes that such reports may not be reliable).

The initial focus of the partners will be on evaluating the alluvial potential of the project with a view to rapid progression to cash flow generation. After the initial phase of exploration and evaluation of the alluvial deposits has been completed and/or at the time when a revenue stream is achieved from the alluvials, a systematic approach to kimberlite exploration will be developed and implemented financed by the cash flow generated from the alluvial operations. Such a strategy will serve to minimize shareholder dilution resulting from the need for continued equity financings.

Bruce A. Counts, PGeoph, a qualified person under NI 43-101, has reviewed and approved the contents of this news release.

On behalf of the Board of Directors,
Gem International Resources Inc.

“Simon Tam”
Simon Tam, CEO and Director

Disclaimer and Cautionary Statement Regarding Forward-Looking Information

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any  jurisdiction.

Sept. 23, 2015  |   Letter Agreement For Proposed Acquisition Of Global Gems International Limited

Letter Agreement For Proposed Acquisition Of Global Gems International Limited

Vancouver, September 23, 2015:  Gem International Resources Inc. has entered into a binding letter agreement with Global Gems International Ltd. for an option to acquire 50 per cent of the issued and outstanding shares of Global Gems and thereby attain 50 per cent of a 45-per-cent interest in the Dala project, which 50-per-cent interest shall be held by Global Gems on behalf of the company. The Dala project is located south of Saurimo, the capital of the Lunda Sul province in Angola. In exchange for the option, the company has agreed to, over a two-year period, raise aggregate cash of $800,000 (U.S.), issue an aggregate 2.75 million common shares of the company to the vendors and contribute an aggregate $5-million (U.S.) toward the exploration expenditures.

The company also announces a private placement, raising proceeds of $800,000 for the sale of up to 16 million units at a price of five cents per unit. Each unit will consist of one common share and one non-transferable share purchase warrant for the purchase of one further common share of the company within two years of the date of grant at the price of 15 cents per such common share. Finders’ fees shall be payable in cash. A portion of the net proceeds ($300,000 (U.S.)) shall be used for a non-refundable deposit used by Global Gems for establishment of office, staff and geologist infrastructure. The balance of the funds shall be used for NI 43-101 report writing, research, legal fees for supporting legal opinions, audit fees and travelling expenses for corporate travel, to raise the balance of financing the first phase of work estimated at $2-million (U.S.), and provide unallocated working capital.

The company announces that it will not be proceeding with its private placement previously announced on June 10, 2015.

The Dala project

The Dala concession covers an area of 3,000 square kilometres within the heart of the highly prospective and productive diamond region of Angola, only 25 km south of the world-class Catoca diamond mine. Dala represents an early-stage project with excellent potential for the discovery of both alluvial and kimberlite deposits. Previous exploration, conducted by Moydow Mines International Inc. (a public company listed on the Toronto Stock Exchange and the Alternative Investment Market) between 2004 and 2008, included a 15,000-line-kilometre airborne geophysical survey over the entire concession and 102 follow-up ground magnetic survey grids. A total of 29 compelling exploration targets were identified from this work, of which 11 were drill tested, resulting in the discovery of four kimberlite pipes. Moydow abandoned the project in early 2009 in response to the significant negative impacts on the exploration and mining industry stemming from the global financial crisis.

From an alluvial perspective, the Dala concession has two of the most prominent diamond mineralized rivers in Angola flowing through it, namely the Tchicapa and Luachimo rivers and exposure to over 100 km of prospective river length to explore and evaluate. Evidence for the presence of alluvial diamond mineralization is provided by the presence of garimpeiro activity (local artisanal miners) at numerous locations along both rivers, together with verbal reports of the recovery of large high-value diamonds from these operations (the company recognizes that such reports may not be reliable).

The initial focus of the partners will be on evaluating the alluvial potential of the project with a view to rapid progression to cash flow generation. After the initial phase of exploration and evaluation of the alluvial deposits has been completed and/or at the time when a revenue stream is achieved from the alluvials, a systematic approach to kimberlite exploration will be developed and implemented, financed by the cash flow generated from the alluvial operations. Such a strategy will serve to minimize shareholder dilution, resulting from the need for continued equity financings.

Bruce A. Counts (PGeoph), a qualified person under NI 43-101, has reviewed and approved the contents of this news release.

On behalf of the Board of Directors,
Gem International Resources Inc.

“Simon Tam”
Simon Tam, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider ( as that term is defined in the policies of the TSX Venture Exchange ) accepts responsibility for the adequacy or accuracy of this press release. 

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