Company Information for Vaaldiam Mining Inc

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Company Statement

The shareholders of Tiomin Resources Inc. (‘Tiomin’) voted, on March 15, 2010, to merge with Vaaldiam Resources Ltd. The new company is called Vaaldiam Mining Inc. and trades on the TSX (Toronto Stock Exchange) with the symbol VAA.

Vaaldiam Mining Inc's focus is on diamond production and exploration in Brazil. In addition, the company has a gold exploration property in Brazil, a net smelter return royalty on the Pukaqaqa copper/gold property in Peru, 100% of the Kwale titanium project in Kenya, an investment in Flemish Gold (former Kivu Gold Corp.) and other listed securities. At December 31, 2009, Tiomin reported cash, liquid investments and imminent cash receivables of about $18 million. 

Current Operations

Duas Barras Mine (diamond producer)

• Diamond sales to-date of 39,350 carats for Gross Proceeds of $5.7 million (Sept 07 to Oct 08)
• 1,737 oz. of gold  produced as by-product for Gross Proceeds of approximately $1.5 million (ave. sales value of US$892/oz)
• Average diamond sales price of US$165 per carat (pre July 2008)
• Average operating cost of US$85 per carat
• Targeted to re-start production by Q3-2010

Resources (43-101 compliant)

• Indicated Resource of 287,195 carats
• Inferred Resource of 161,730 carats

Feasibility study underway to evaluate sale of by-product gravel as decorative stone to maximise revenues.

Chapada Mine (diamond producer)

• Produced 17,892 carats of diamonds in 2007 and 5,261 carats H1-2008 with total value of $9.6 million
• High average diamond value of over US$490 per carat achieved for 2008 sales
• Mining operations suspended in June 2008 to allow installation of in-pit screening unit to lower mining and hauling costs
• 2010 focus on expansion of NI 43-101 compliant resources
• Targeted to re-start mining operations in Q1-2011

Brauna Diamond Project (diamond exploration, bulk sampling)

Diamonds - 20% Interest (with buy - back to 49%)

• 21 kimberlite occurrences discovered to date
• Potential to be South America's first kimberlite diamond mine
• High quality diamonds recovered from bulk samples including valuable pink diamonds

Gold 100% interest

• Small-scale gold production by garimpeiro operators
• Gold zone, 800 metres long on surface, untested by modern exploration
• Quartz vein widths of 0.6 metres to 2.0 metres
• Two samples taken in 10 metre-deep shafts, 125 metres apart assayed 5.9 g/t and 21.2 g/t
• Situated in the Rio Itapicuru Greenstone Belt which host Yamana's Fazenda Brasiliero Mine and the C1 Santa Luz Deposit

Pukakaka Cu-Au Project Net Smelter Royalty

• Copper-gold deposit hosted in a porphyry skarn system
• Total Measured + Indicated Resource of 99,148,000 tonnes at 0.56% Cu and 0.09 g/t Au for 1,206,509 lbs Cu ($4.1 billion @$3.40/lb) and 285,987 oz. Au ($323.74 million @$1,132/oz)
• Total Inferred Resource is 58,662,000 tonnes at 0.6% Cu and 0.11 g/t Au for 775,957, 471 lbs Cu and 207,458 oz Au
• US$4 million payments in years 1 and 2 of production
• 1% NSR if copper equals US$3/lb or less and 2% NSR above US$3/lb

Catalao Project

• 100% Interest in existing kimberlite
• Property covers the Catalao kimberlite cluster
• nine pipes discovered within exploration concession
• +25 million tonne potential
• Numerous geophysical targets suggest new discoveries
• Diamond grades of 23.55 cpht from 3.6 tonne mini-bulk sample by Rio Tinto in 2002
• Area of historic alluvial diamond production with incidence of large +100 carat diamonds
• Rio Tinto retains 60% back-in rights with VAA retaining a 40% carried interest in any new discovery

Kwale TiO2 Project

• 100% owned by Tiomin
• Reviewing alternatives
• Positive feasibility study completed in 2000
• Three mineralized zones trending parallel to the coastline with an average Titanium Heavy Mineral ("THM") content of 5.7%
• Tiomin owns surface rights suitable for a port facility with an estimate real estate value of $750,000
• Agreement signed, subject to various conditions, for sale to Base Iron Limited
   

Geographical Spread

Brazil, Peru

Board of Directors and Key Management

JC Potvin	Chairman
Lee Barker	Director
Roland Bertin	Director
Peter Bojtos	Director
Mario Caron	Director
Mr. Lu (Jinchuan)	Director
Sam Randazzo	Director
Robert Jackson	President & CEO, Director
Ken Johnson	Executive Vice President & COO
Frances Kwong	Vice President & CFO

Company Address 55 University Avenue, Suite 1105 Toronto, Ontario, Canada M5J 2H7 Telephone: (416) 363-6927 Email: info[at]vaaldiam.com Website: http://www.vaaldiam.com

Capital Shares outstanding - Basic – 71,752,158 Warrants – 9,935,289 Options – 4,927,518 Shares outstanding - fully diluted – 86,614,966

Annual General Meeting 27 May, Toronto

Year End 31 December

Major Shareholders

Jinchuan Group Ltd	12.41%
Management & Directors	7.93%
Jaguar Financial	5.16%
Candlewood Investments & Zoneplan	4.60
Fidelity Investments	2.79%
N Aftergut & Zonen	0.87%
Great Western Minerals	0.84%
RAB Capital	0.78%
LL Mining	0.58%
US Global	0.39%
Top ten Holding: 36.33%

Related News

13/04/10 - No Longer Missing In Action: Vaaldiam Ought To Be Generating Cash From Brazilian Diamond Operations Within A Matter Of Months

Most Recent Statement

08/09/10 - Vaaldiam Reports Good Diamond Results at Brauna
17/08/10 - Vaaldiam Reports 2010 Q2 Financial Results
05/08/10 - Short Positions on 2010/07/31 10,000 -142,500
03/08/10 - Vaaldiam Sells Titanium Asset for Cash & Royalty
23/06/10 - Vaaldiam Advances Kenyan Asset Sale
05/05/10 - Vaaldiam Advances Sale of Non-Core Assets