Diamond Fields closes acquisition of remaining interest in subsidiary

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Diamond Fields closes acquisition of remaining interest in subsidiary
    SYMBOL: DFI

    VANCOUVER, April 7 /PRNewswire-FirstCall/ - Diamond Fields International
Ltd. (the "Company" or "DFI") announces that it has acquired the remaining 30%
interest in International Gemstones Co. Ltd. ("IGC"), a private company
incorporated in the Republic of Mauritius, increasing DFI's interest in IGC
from 70% to 100%. IGC owns 100% of the issued shares of Gemstones
International Madagascar SARL, which in turn holds all of the rights, title
and interest in the Company's Madagascar licenses and the two diamonds of 23
carats and 8 carats, as disclosed in DFI's News Release of September 8, 2003.
The Company had acquired the original 70% interest in IGC by acquiring a 100%
interest in Gem Fields Resources, Ltd., a British Virgin Islands company, as
part of its acquisition of a number of land based exploration projects
initially announced in DFI's News Release dated July 31 2003. The remaining
30% interest in IGC was owned by individual shareholders, all of whom agreed
to sell their interests in exchange for a total of 612,572 common shares in
the capital stock of the Company. Theses shares are subject to a hold period
expiring August 1, 2004.
    In other news, further to the Company's News Release of February 24, 2004
announcing the appointment of Mr. Ken Hecker as Chief Operating Officer and
Chief Financial Officer of DFI, the Company announces that Mr. Marcel de
Groot, who acted as Chief Financial Officer prior to the appointment of
Mr. Hecker, has completed his employment with DFI. The Company would like to
express its sincere appreciation to Mr. de Groot for the excellent job he did
as CFO for the past year. He stepped in at a difficult time to fill the
management void created and worked tirelessly and with tremendous enthusiasm
and creativity in taking on all of the responsibilities of the office of CFO,
as well as assisting with the various acquisitions, financings and other
special projects carried out by the Company. Diamond Fields would like to wish
Mr. de Groot great success in his future endeavors.

    DIAMOND FIELDS INTERNATIONAL LTD.

    "Gregg J. Sedun"

    Gregg J. Sedun
    President and Chief Executive Officer

    For further information contact Investor Relations (604-682-2113)
    Website: http://www.diamondfields.com

    Forward-Looking Statements:
    Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
identified in the Diamond Fields' periodic filings with Canadian Securities
Regulators. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary materially.
Diamond Fields does not assume the obligation to update any forward-looking
statement.
SOURCE Diamond Fields International Ltd.