SASKATOON, SK, May 8, 2026 /CNW/ - Star Diamond Corporation ("Star Diamond" or the "Company") announces its financial and operating results for the three months ended March 31, 2026. All amounts are in thousands of Canadian dollars, except common share or per share amounts or as otherwise noted.
The Company's unaudited interim financial statements for the three months ended March 31, 2026 and related management's discussion and analysis are available on SEDAR+ at www.sedarplus.ca.
OperationsThe Star, Orion South Diamond ProjectAs at the date hereof, the Company's material mineral project is the Star, Orion South Diamond Project (the "Project"). Additional information related to the Project, including the revised mineral resource estimate in respect of the Project, can be found in the technical report relating to the Project, bearing an effective date of July 24, 2024, entitled "Technical Report and Revised Resource Estimate for the Star-Orion South Diamond Project, Fort A La Corne Area, Saskatchewan, Canada", prepared by Daniel C. Leroux, M.Sc. P.Geo., Leon McGarry, B.Sc. P.Geo. and Peter J. Ravenscroft, FAusIMM (the "Star Diamond Technical Report"), a copy of which is available on the Company's SEDAR+ profile at www.sedarplus.ca.
The Project site is currently under care and maintenance. Star Diamond's technical team will focus on the technical investigation and evaluation of the Project, with the goal of a future development decision. On September 9, 2025, the Company announced the engagement with Misty Clifton and SGS for a pre- feasibility study on the Project (the "PFS"). The PFS will include a revised statement of mineral reserves for the Project, if warranted, and an economic assessment based thereon. The PFS will enable a feasibility study, on which a production decision can be based. As announced in the Company's press release dated March 25, 2026, work to advance the PFS for the Project is ongoing. The timing of the PFS is dependent, among other things, on the Company completing one or more financings and the availability of contractors.
Fort à la Corne Project (Orion North, Orion Centre and Taurus)The Orion North, Orion Centre and Taurus kimberlite clusters form part of the Fort à la Corne Project, located in Saskatchewan, Canada. There were no material developments with respect such clusters during the most recently completed financial year and the Company is currently reviewing the project to determine future technical, economic, permitting, social and environmental work.
BH ProjectThe Buffalo Hills Diamond Project (the "BH Project") is located in north central, Alberta. There were no material developments with respect to the BH Project during the most recently completed financial year and the Company is currently reviewing the BH Project to determine future technical, economic, permitting, social and environmental work.
Corporate Developments During 2026On February 4, 2026, the Company granted 41,000,000 stock options to directors, officers, and employees of the Company. The stock options have an exercise price of $0.05 per share, with 1/3 of the options vesting immediately and 1/3 vesting on each of the first and second anniversaries of the date of grant. ...
