Firestone Diamonds (FDI)

Preliminary results for the year ended 30 June, 2004.

HIGHLIGHTS

General

• After tax profits increased 148% to £161,498

• Rough diamond market very strong; prices increased 30% since the
beginning of 2003

• Share placement in July 2004 raised approximately £1.3 million after
expenses

Bonte Koe Mine, South Africa

• Mine development completed

• First diamonds produced in October

• Production valued at $200 per carat

Avontuur Mine, South Africa

• Production increased 222% to 6,339 carats

• Average price for gem quality production increased 27% to $140 per
carat

Oena Mine, South Africa

• Overall production decreased 54% due to mining contractor dispute

• Production from Company's own operations increased 26% to 903 carats

• Average value of diamonds sold increased 24% to $1,050 per carat

Mopipi, Botswana

• Joint venture signed with De Beers

• Intensive work programme under way

• 51,000 line kilometres of high-resolution geophysical surveys conducted

• 118 targets identified to date; drilling to commence in early 2005

Orapa and Jwaneng, Botswana

• Two new projects acquired post year end

• Joint ventures signed with De Beers

• Extensive work under way at Orapa; 62 targets identified to date

Groen River Valley, South Africa

• Major new gravel deposit discovered

• Drilling and bulk sampling to commence shortly

USA Exploration

• New kimberlite project announced

• Joint venture established with American Diamonds Inc

New projects

• New exploration and mining projects being evaluated







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Saint