Stage 1

Discovery (Exploration)

Stage 1

Discovery (Exploration)

Purpose

To determine if pipe is or has potential to be diamondiferous

Purpose

To determine if pipe is or has potential to be diamondiferous

Stage 2

Delineation Drilling

Stage 2

Delineation Drilling

Purpose

To determine size & geometry of pipe,

multiple phases etc.

Purpose

To determine size & geometry of pipe,

multiple phases etc.

Stage 3

Mini Bulk Sampling Using Large Diameter Coring

Stage 3

Mini Bulk Sampling Using Large Diameter Coring

Purpose

Commercial grade estimate & preliminary

diamond value

Core Treatment

Commercial DMS plant

Results

Diamonds > 1.2mm recovered

Purpose

Commercial grade estimate & preliminary

diamond value

Core Treatment

Commercial DMS plant

Results

Diamonds > 1.2mm recovered

Stage 4

Underground Bulk Sampling

Stage 4

Underground Bulk Sampling

Purpose

To recover >10,000 carats for valuation

Sample Treatment

Commercial DMS plant

Results

Diamonds > 1.2mm recovered

Purpose

To recover >10,000 carats for valuation

Sample Treatment

Commercial DMS plant

Results

Diamonds > 1.2mm recovered

Evaluation of a Kimberlite PipeEvaluation of a Kimberlite Pipe

Pipe Metres Developed

Tonnes Mined Carats Recovered

A154S 1,300 2,585 12,763 A418 800 3,335 8,275

Pipe Metres Developed

Tonnes Mined Carats Recovered

A154S 1,300 2,585 12,763 A418 800 3,335 8,275

Underground Bulk Sampling - 1996Underground Bulk Sampling - 1996

Exploration 1991-95Exploration 1991-95

May 16, 2002 Bankable Feasibility Study:

! 25.7 million tonnes of proven and probable ore reserve ! Average grade of 4.2 carats per tonne (cpt)! 57% (11.7 million tonnes) of reserve is contained in the A-154S! A-154 South has a grade of 5.2 cpt and a diamond value of US$79 (CDN$116) per carat for an average rock value of US$412 (CDN$606) per tonne.

May 16, 2002 Bankable Feasibility Study:

! 25.7 million tonnes of proven and probable ore reserve ! Average grade of 4.2 carats per tonne (cpt)! 57% (11.7 million tonnes) of reserve is contained in the A-154S! A-154 South has a grade of 5.2 cpt and a diamond value of US$79 (CDN$116) per carat for an average rock value of US$412 (CDN$606) per tonne.

Production Data Estimated Values Of The Project (100%) (Cdn $)

Life of mine 20 years

Total diamond produced 107 million carats

Project pre-production capital cost CDN$ 1.29 billion

Nominal Annual Processing Capacity 1.5 million tonnes

Annual Production (avg. first ten years) 7.1 million carats

Average Diamond Price (avg. first ten years) CDN$ 109 /carat

Cash operating cost (avg. first ten years) CDN$ 18 /carat

Production Data Estimated Values Of The Project (100%) (Cdn $)

Life of mine 20 years

Total diamond produced 107 million carats

Project pre-production capital cost CDN$ 1.29 billion

Nominal Annual Processing Capacity 1.5 million tonnes

Annual Production (avg. first ten years) 7.1 million carats

Average Diamond Price (avg. first ten years) CDN$ 109 /carat

Cash operating cost (avg. first ten years) CDN$ 18 /carat

Diamond Deposits Worldwide US $/tonneDiamond Deposits Worldwide US $/tonne

0 50 100 150 200 250 300 350 400 450US$/Tonne

A154S

Snap Lake

A418

Panda

Jwaneng

Venetia

Udachnaya

A-154 N

Misery

Koala

Jubilee

A-21

Sable

Fox

Orapa

Argyle

Diavik Diamond MineFull Development 2015

Near Term GoalNear Term Goal

North Rock Pile

Till

Airstrip

Processed KimberliteContainment

Till

South Rock Pile

Camp andProcess Plant

Dike

Dike

Ice R

oad

400 0 400 800 1200 1600 2000

Scale in Metres

Water TreatmentPlant

Dike

A418

A154SA154N

A21

Diavik Mine 2015Diavik Mine 2015

Full and Safe ClosureDiavik Site - 2025

Full and Safe ClosureDiavik Site - 2025

The Longest-Term GoalThe Longest-Term Goal

Com

munity Participation Throughout

Com

munity Participation Throughout

Overall Project Benefits! 3-Years of Construction

Capital Expenditure $1.3 billion! Northern Purchasing >38% northern

! Average 800 construction jobs 40% northern

! 20-years of Mining Operations Workforce > 450

! > 66% northern

! 40% Aboriginal

! $30 million annual salaries

$100 million annual purchasing ! > $70 million northern

! > 40% of value of resource (> $3 billion) accrues to governments

! 3-Years of ConstructionCapital Expenditure $1.3 billion

! Northern Purchasing >38% northern

! Average 800 construction jobs 40% northern

! 20-years of Mining Operations Workforce > 450

! > 66% northern

! 40% Aboriginal

! $30 million annual salaries

$100 million annual purchasing ! > $70 million northern

! > 40% of value of resource (> $3 billion) accrues to governments

2001 - 2002 Construction Highlights

! Winter road seasons7,200 loads of fuel, supplies & construction

materials trucked safely to site

! Winter road seasons7,200 loads of fuel, supplies & construction

materials trucked safely to site

! Constructing mine plant ! process plant! water treatment plant ! sewage treatment plant ! diesel power plant ! maintenance complex ! permanent accommodations! explosives facility

! Constructing mine plant ! process plant! water treatment plant ! sewage treatment plant ! diesel power plant ! maintenance complex ! permanent accommodations! explosives facility

! Constructing Earthworks ! Roads, Collection ponds & foundations ! Dams, A154 dike ! Prepare first open pit

! Constructing Earthworks ! Roads, Collection ponds & foundations ! Dams, A154 dike ! Prepare first open pit

Diavik Diamond Mine SiteDiavik Diamond Mine Site

August 2002

Diavik Plant Site

August 2002

Diesel power plant

Diesel power plant Boiler

plantBoiler plant

Permanent Accommodations

Permanent Accommodations

Administration / Maintenance Complex

Administration / Maintenance Complex

Process PlantProcess PlantFuel

TanksFuel

Tanks

Sewage TreatmentSewage

Treatment

September 2002

Diavik A154 DikeDiavik A154 Dike

July 2001

August 2001

September 2001

November 2001

August 2002

Working with Communities Contributing to Community Capacity

Advisory Training Employment Business Scholarships

GREAT B

EAR LAK

E

GREA

T SLA

VE LA

KE

Kilometres

00 200200100100

FortFortLiardLiard

FortFortSimpsonSimpson

FortFort

Norman Norman WellsWells

Edzo

RiverRiver

Lupin Mine

ResolutionResolution

TulitaTulita

YELLOWKNIFERaeWha Ti

WekwetiGameti

HayHay

Ekati

DelineDeline

Lac de Gras

ARCTIC CRICLE

Fort Fort SmithSmith

NUNAVUTTERRITORY

Diavik Diamonds Project

EnterpriseEnterprise

Fort ProvidenceFort ProvidenceJean Marie RiverJean Marie River

WrigleyWrigley

Nahanni Nahanni ButteButte

BathurstBathurst InletInlet

KugluktukUmingmaktokUmingmaktok

LutselkeDettahNdilo

Trout LakeTrout Lake

NORTHWEST TERRITORIES

YUKON

MACKENZIE RIVER

Neighbouring CommunitiesNeighbouring Communities

Providing Employment Providing Employment

Total Construction Workforce averaged 800

Total Construction Workforce averaged 800

Northern44%Southern

56%

Aboriginal people are about half of the Northern construction workforce

Aboriginal people are about half of the Northern construction workforce

Providing Business Benefits

Northern73%

Other27%

! Construction contracts worth approximately $1 billion

! Over $730 million withnorthern companies

! Doubles Diavik's 38 per cent commitment

! $500 million with Aboriginal firms and their JVs

! Construction contracts worth approximately $1 billion

! Over $730 million withnorthern companies

! Doubles Diavik's 38 per cent commitment

! $500 million with Aboriginal firms and their JVs

Diavik Conclusions! Constructing Canadas premier diamond mine ahead of

schedule and on budget

! Ensuring workplace safety

! Meeting / exceeding environmental commitments

! Successfully training northerners

! Meeting northern employment commitments

! Exceeding northern business commitments

! Community Advisory Participation

! Contributing to Community Capacity

! Looking forward to diamond production, February 2003

! Constructing Canadas premier diamond mine ahead of schedule and on budget

! Ensuring workplace safety

! Meeting / exceeding environmental commitments

! Successfully training northerners

! Meeting northern employment commitments

! Exceeding northern business commitments

! Community Advisory Participation

! Contributing to Community Capacity

! Looking forward to diamond production, February 2003

Canada: A Brilliant Future

Ekati and Diavik

SUPERIOR CRATONBUFFALO HEAD

TERRANE Otish Mountains

SLAVE CRATONSLAVE CRATON

Outline of VariablyOutline of VariablyOutline of VariablyOutline of VariablyReworked Reworked Reworked Reworked Archean Archean Archean Archean RocksRocksRocksRocksOutline of OldestOutline of OldestOutline of OldestOutline of Oldest Archean CratonsArchean CratonsArchean CratonsArchean Cratons

Coronation District

Buffalo Head Hills

Diavik DiamondsDiavik Diamonds

Acknowledgements:Acknowledgements:

Aber

NAVIGATOREXPLORATION CORP.

Ashton Mining of Canada