VANCOUVER, Aug. 17 /PRNewswire-FirstCall/ - Diamond Fields International
Ltd. (TSX:DFI) is pleased to announce the results of the initial drill program
at the Ogna Nickel-Copper project in southwestern Norway. A total of 1280.7
meters of drilling was completed between May 25 and June 17, 2004. Drilling
was focused in two geophysical targets at Bjorndalsnipa and Gulldragsvatn.

    Bjorndalsnipa - Ni/Cu Geophysical Target
    Eight drill holes totaling 896 meters targeted nickel and copper
mineralization related to late-stage enrichment of an anorthosite host. The
drilling encountered massive sulfide veins and stringers of disseminated
sulfides with grades including nickel values up to 1.31% and copper values up
to 0.85%. Drill holes 2 to 7 were all collared at the same site and drilled in
a fan to define the extent of the mineralization in an area where no obvious
structural controls could be seen at surface.

    Results for selected elements are as follows (true thickness is not known
at this time):

    DrillHole          From (m)  To (m) Width (m)  %Ni    %Cu    %Co    %Fe

    BJN02                27      29         2     1.23   0.57   0.16   52.79
    BJN02                29      30         1     0.81   0.85   0.12   36.07
    BJN02                31      33         2     1.21   0.34   0.13   51.82
    BJN02                33      35         2     0.42   0.30   0.05   18.48
    BJN02                35    37.2       2.2     0.70   0.27   0.08   29.98
    BJN02              46.2    47.1       0.9     1.04   0.22   0.12   44.11

    BJN03              43.5    43.9       0.4     0.80   0.42   0.11   36.55

    BJN05              21.4    22.1       0.7     1.21   0.22   0.16   52.89
    BJN05              63.2    64.2         1     1.06   0.44   0.18   50.54
    BJN05              75.4    76.4         1     1.30   0.22   0.14   56.35

    BJN06              20.5      21       0.5     1.31   0.20   0.15   56.39
    BJN06              23.5      24       0.5     1.19   0.23   0.14   51.54
    BJN06              25.9    26.4       0.5     1.07   0.16   0.12   46.96
    BJN06              40.5    41.4       0.9     0.86   0.49   0.14   40.68

    BJN07                24    25.9       1.9     1.22   0.36   0.14   52.78
    BJN07              29.1    30.4       1.3     1.30   0.31   0.14   54.75


    Interpretation of the drill intersections suggests a semi-cylindrical
body of sulfide mineralization, about 50 meters long and 40 meters wide,
dipping steeply to the south was intersected, similar in extent to the Homse
massive sulfide deposit located 900m to the west. Although the drill
identified zone at Bjorndalsnipa does not appear at this time to represent an
economic ore deposit, the style and extent of mineralization in these two
cases is interpreted to represent a feeder system of sulfide liquids,
suggesting the possibility of a larger nickel/copper enriched sulfide body at
depth. The two mineralized pods appear to be related by their locations
adjacent to a through going fault. A ground geophysical program is planned
over the area to search for deeper conductors that will help support this
theory and generate targets for further drilling.

    Gulldragsvatn
    In the Gulldragsvatn area, 384.5m of drilling targeted nickel, copper,
and titanium mineralization related to an extensive mineralized zone in
anorthosite and norite. Two 45 degree angled drill holes on a SE bearing
returned core lengths of 53m and 90m respectively of anorthosite and norite
breccia with massive ilmenite matrix. The holes are 150m apart and targeted
on geophysical anomalies. Intersections of massive ilmenite bands in the core
varied from centimeters thick to 4m thick in HGV-1.

    Results for selected metal oxides are as follows (true thickness is not
known at this time):

    DHID   From  To    Width   TiO(2)% Fe(2)O(3)% MnO% V(2)O(5)%  Cr(2)O(3)%
           (m)   (m)    (m)

    HGV1    88   100    12     23.76    32.25    0.17   0.191     0.043
    HGV1   100   108     8      8.97    14.70    0.09   0.079     0.021
    HGV1   108   114     6     25.89    34.00    0.17   0.200     0.037
    HGV1   114   128    14      9.83    14.00    0.08   0.083     0.022
    HGV1   128   134     6     12.89    18.47    0.11   0.112     0.026
    HGV1   134   140     6      8.04    12.10    0.08   0.070     0.017
    HGV1         Ttl   52m     14.91    20.92    0.12    0.12     0.03


    HGV2 has a similar style of mineralization. Although disseminated and
stringer ilmenite was seen for the entire length of the hole, a zone of
massive ilmenite and anorthosite breccia extended from 126m to 144m. These
intersections are interpreted to represent near true thickness of the ilmenite
mineralization which is dipping 45 to 50 degrees to the NW. The mineralized
zone and coincident HEM anomalies that define it extends over 1000 m along
strike. Surface structure indicates that further strike length is possible.

    Results for selected metal oxides are as follows (true thickness is not
known at this time):

    DHID   From  To    Width   TiO(2)% Fe(2)O(3)% MnO% V(2)O(5)%  Cr(2)O(3)%
           (m)   (m)    (m)

    HGV2    60    66     6      8.67    14.90    20.92   0.116       0.122
    HGV2    66    74     8     13.91    21.00     0.12   0.141       0.036
    HGV2    74  75.5   1.5     13.93     20.2     0.11   0.141       0.035
    HGV2  75.5  79.5     4     26.53    36.45     0.19   0.266       0.060
    HGV2  79.5    81   1.5     15.44     22.5     0.14   0.157       0.041
    HGV2    81    89     8     12.52    20.53     0.12   0.122       0.029
    HGV2    89    91     2      0.19        3     0.03   less than   0.005
                                                         0.005
    HGV2    91    97     6     10.79    16.37     0.10   0.111       0.031
    HGV2    97   101     4     27.23    37.90     0.20   0.272       0.067
    HGV2   101   104     3      5.57      9.2     0.06   0.056       0.013
    HGV2   104   112     8     20.83    30.10     0.16   0.211       0.048
    HGV2   112   126    14      7.42    12.39     0.08   0.084       0.027
    HGV2   126   144    18     19.18    28.44     0.16    0.20       0.049
    HGV2   144   150     6     11.50    18.00     0.12   0.118       0.027
    HGV2         Ttl   90m      14.2    21.43     0.12   0.15         0.04


    Gulldragsvatn drilling has suggested ilmenite mineralization warranting
further investigation. Future work will include assessing metallurgical
potential before attempting to expand the deposit. Ilmenite is one of the main
ores of titanium which is primarily used as a pigment for paint, paper,
plastic and other materials. Other uses for titanium are for manufacturing
alloys, carbides and chemicals
    Crushing and geochemical analysis of the core was carried out by OMAC
Laboratories, Loughrea, County Gallway, Ireland (http://www.omaclabs.com). The
Bjorndalsnipa samples were processed using ICP methods while the Gulldragsvatn
samples were processed using a Potassium Polysulphate Fusion method with ICP
finish, specific for ilmenite compositions. Mr. Randal Cullen, P.Geol, Chief
Geologist for Diamond Fields International Ltd., is a Qualified Person as
defined by National Instrument 43-101 and is responsible for program design
and quality control of exploration undertaken by Diamond Fields.
    Diamond Fields International Ltd. is an internationally active
exploration and mining company pursuing mineral exploration opportunities
worldwide. The Company's corporate strategy is to maximize cash flow from its
Namibian marine diamond concessions and systematically explore and develop its
international mineral exploration projects. In addition, the Company continues
to explore opportunities to acquire new economic mineral projects worldwide.

    DIAMOND FIELDS INTERNATIONAL LTD.

    "Gregg J. Sedun"

    Gregg J. Sedun
    President and Chief Executive Officer

    For further information contact Investor Relations (1-888-682-2113)
    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.

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