MANA Man.Assd.Csh

    RNS Number : 1591E
  Mano River Resources Inc
  24 September 2008
   

    Mano River Resources Inc.
       News Release

    TSX-V: MNO
    AIM:     MANA

    24th September, 2008
    
Encouraging Diamond Grades from Trial Mining at Kono Project
    Mano River Resources Inc. ("Mano" or "the Company") the TSX-V and AIM-listed exploration and development company focussed on West
Africa, is pleased to announce a progress update on the Kono diamond project in Sierra Leone. The Kono project is a Joint Venture between
Stellar Diamonds Ltd ("Stellar") (49%) and Petra Diamonds Limited ("Petra") (51%). Mano River is a 63% shareholder in Stellar, which plans
to list on AIM, pending market conditions. 

On 23rd September 2008 Petra issued its preliminary results announcement for the year ended 30 June 2008 (unaudited) and has made the
following statement regarding the Kono Joint Venture:-

" Trial mining continues with first tender of diamonds from Sierra Leone. We continue to be encouraged by the results of exploration and
trial mining at our Kono project, a joint venture with Stellar Diamonds.

    Exploration and trial mining operations at our Kono project in Sierra Leone, a joint venture with Stellar Diamonds, continue to yield
encouraging results. The first parcel of Kono test production (1,064 carats) was sold on tender this September, with the Pol-K shaft parcel
of 866 carats achieving an average value per carat of US$152.

As diamond production from the trial mining increases over the coming months, we will be able to offset total project expenditure against
the revenues generated by regular diamond sales. As trial mining and regular sales continue, we will further establish the parameters for a
production decision.
    
Due to the considerable exploration potential at Kono, a 3,167 line km airborne electromagnetic geophysical survey has been completed by
Fugro Airborne Surveys, the objective being the discovery of kimberlite pipes and blows. Processing of the data, which we outsourced to an
external expert, is complete and final interpretations should be available before the end of October 2008."

    

    Karl Smithson, CEO of Stellar commented:

"We are very encouraged by the diamond value achieved from the sale of our first parcel of diamonds from test production at Kono. We
maintain our belief that the value will increase with larger parcels, which will provide a more representative sample. We are pleased that,
in the current economic climate, there is potential to offset total project expenditure against the revenues generated by diamond sales from
trial mining in the coming months. The trial mining is yielding encouraging results and we look forward to working with Petra as we move
forward with the Kono project. I look forward to updating our shareholders on the survey results in the coming months."


For further information on Mano River Resources and Stellar Diamonds Limited, you are invited to visit the Company's website at
www.manoriver.com or contact:


 Mano River Resources Inc
 Luis da Silva, CEO                 +44 (0) 20 7299 4212
 Stellar Diamonds Limited
 Karl Smithson, CEO                 +44 (0) 77 837 07971
 Pelham PR
 Charles Vivian / James MacFarlane  +44 (0) 20 7743 6670
 GMP Securities Europe LLP
 James Hannon                       +44 (0) 20 7647 2803
 Panmure Gordon (UK) Limited
 Edward Farmer                      +44 (0) 20 7614 8384




    The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release


This information is provided by RNS
The company news service from the London Stock Exchange
 
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