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Press release from Marketwire

Peregrine Completes $3 Million Private Placement

Thursday, December 19, 2013

Peregrine Completes $3 Million Private Placement

12:20 EST Thursday, December 19, 2013

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 19, 2013) - Peregrine Diamonds Ltd. ("Peregrine" or "Company") (TSX:PGD) is pleased to announce that further to its press release of December 17, the Company has closed its non-brokered private placement of 4,616,222 common shares at a price of $0.65 per share for gross proceeds of $3,000,544 (the "Placement"). The common shares issued under the Placement were sold on a "flow-through" basis pursuant to the Income Tax Act (Canada) and purchased by institutional investors. The common shares issued under the Placement are subject to a six month hold period that expires on June 20, 2014. A cash fee equal to six percent of the gross proceeds was paid as a Finder's Fee to Secutor Capital Management Corp., an Investment Industry Regulatory Organization of Canada member firm.

Proceeds from the Placement will be used for Peregrine's mineral exploration projects in Canada.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Peregrine Diamonds Ltd.
Mr. Eric Friedland
CEO
604-408-8880


Peregrine Diamonds Ltd.
Mr. Brooke Clements
President
604-408-8880


Peregrine Diamonds Ltd.
Mr. Tom Peregoodoff
Executive VP, Business Development
604-408-8880


Peregrine Diamonds Ltd.
Investor Relations
604-408-8880
investorrelations@pdiam.com

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