Firestone Diamonds PLC - Botswana Joint Venture Agreement Signed

Firestone Diamonds plc, ("Firestone" or "the Company"), the AIM-quoted diamond mining and exploration company (ticker: AIM:FDI), is pleased to announce that it has entered into a joint venture agreement with Tawana Resources NL ("Tawana") over Tawana's kimberlite exploration and evaluation projects in Botswana, which includes 8 kimberlites in the Orapa kimberlite field. Under this agreement Firestone could earn up to an 85% interest in any kimberlites in the prospecting licences controlled by Tawana.

Philip Kenny, CEO of Firestone Diamonds, commented: "With production from our planned new mine at BK11 due to commence in Q2 2010, we will be able to use the infrastructure at BK11 to develop and exploit economic potential at other satellite kimberlites in the Orapa area quickly and at relatively low cost. We are excited about the potential of Tawana's kimberlites in the Orapa area, which bring the total number of kimberlites in Firestone's portfolio in the Orapa area to 15, and look forward to updating our shareholders about the results of our initial review of the project in early 2010."

The Orapa prospecting licence covers an area of 57 square kilometres in the Orapa kimberlite field and contains a cluster of 8 kimberlites, BK19-26. The largest of these kimberlites, BK24, is located 2.5 kilometres from Debswana's Damtshaa Mine and 26 kilometres from Firestone's BK11 kimberlite, which is due to commence commercial production in Q2 2010. The Company has commenced a review of the historical data available from work carried out by Tawana and other operators on BK19-26. This review is expected to be completed in January 2010."

The Francistown prospecting licences cover an area of 1,500 square kilometres close to the town of Francistown in eastern Botswana. Although no kimberlites have been discovered in this area before now, the prospecting licences are located in the right geological setting for the discovery of diamondiferous kimberlites. The Company has also commenced a review of the historical data available from work carried out by Tawana and other operators in this area. This review is expected to be completed in Q1 2010.

Firestone can earn a 70% interest in any kimberlite by financing all evaluation work on that kimberlite up to the completion a bulk sample of a minimum of 150 tonnes from kimberlites less than 1 hectare in size, and of a minimum of 250 tonnes from kimberlites greater than 1 hectare in size. Tawana will then have an option to fund its pro-rata share of all further work on that kimberlite. If Tawana is unwilling or unable to exercise this option, Firestone will be entitled to earn an additional 15% by financing all further evaluation work up to and including the making of a mine development decision on that kimberlite. The agreement is subject to the approval of the Minister of Minerals, Energy & Water Resources.

Firestone Diamonds plc ("FDI.L") is an international diamond mining and exploration company with operations in Botswana and South Africa. Botswana is the world's largest and lowest cost producer of diamonds, with annual production worth over $2.5 billion, and is considered to be one of the most prospective countries in the world to explore for diamonds.

Firestone is the largest holder of mineral rights in Botswana's diamondiferous kimberlite fields, controlling over 25,000 square kilometres around the major Orapa and Jwaneng mines and the entire Tsabong kimberlite field. Firestone has 95 kimberlites in its portfolio, of which 24 have been proven to be diamondiferous. Fifteen of Firestone's kimberlites are at the bulk sampling stage.

1. The information in this statement has been reviewed by Mr. Tim Wilkes, BSc, Pr Sci Nat, who is a qualified person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies. Mr. Wilkes is Chief Operating Officer of Firestone Diamonds plc and has over 27 years' experience in diamond exploration, mineral resource management and mining. Mr. Wilkes is a member of the sub-committee for diamonds of the South African Mineral Resource Committee (SAMREC).

DISCLAIMER - IMPORTANT

DUE TO RESTRICTIONS UNDER APPLICABLE SECURITIES LAWS THE MATERIALS ON THIS SECTION OF THE WEBSITE ARE RESTRICTED AND SUCH INFORMATION AND DOCUMENTS ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN CERTAIN JURISDICTIONS. IN PARTICULAR, THEY ARE NOT DIRECTED AT OR ACCESSIBLE BY PERSONS LOCATED IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT IS UNLAWFUL TO TRANSMIT SUCH INFORMATION.

Please read this notice carefully - it applies to all persons who view this webpage. Please note that the notice set out below may be altered or updated. You should read it in full each time you visit the site.

Overseas Persons

Viewing these materials in jurisdictions other than the United Kingdom may be prohibited or restricted by applicable law and regulation. In some of these jurisdictions, only certain categories of person may be allowed to view such materials. Any person resident outside the United Kingdom who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.

The website and the information and materials contained herein do not constitute or form a part of any offer to buy or a solicitation of an offer to purchase or subscribe for securities in Fitzgerald plc in any jurisdiction or jurisdictions in which such offers, sales or solicitations are unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In particular, the securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act"), or under the applicable securities laws of the United States and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act. There will be no public offering of the securities in the United States. The securities offered and sold outside the United States are being offered in reliance on Regulation S of the US Securities Act.

In addition, no securities registration or other clearances have been or will be made or obtained with or from the relevant authorities in Australia, Canada, Japan or South Africa or any other jurisdiction except the United Kingdom. Accordingly, unless an exemption under the relevant securities law is applicable, the securities may not be offered, sold, resold, delivered or distributed, directly or indirectly, in or into the United States, Australia, Canada, Japan or South Africa or any other jurisdiction if to do so would breach any applicable law, or require registration thereof in such jurisdiction. If you are not permitted to view materials on this website or are in any doubt as to whether you are permitted to view these materials, please exit this website.

Basis of access

Access to electronic versions of these materials is being made available on this website by Fitzgerald plc in good faith and for information purposes only. Any person seeking access to this section of the website represents and warrants to Fitzgerald plc that they are doing so for information purposes only. Making these materials available in electronic format does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for securities in Fitzgerald plc or constitute a recommendation by Fitzgerald plc or any other party to sell or buy securities in Fitzgerald plc.

Access to this website may be restricted under securities laws in certain countries. Accordingly, by clicking below, you warrant that:

I have read and understood the disclaimer set out above. I confirm that I am permitted to access this section of the website and that I am not a resident of the United States, Australia, Canada, Japan or South Africa nor located inside the United States, Australia, Canada, Japan or South Africa, nor am I a resident of, or located inside, any other jurisdiction other than the United Kingdom unless in such territory the contents of this website can be lawfully transmitted without contravention of any unfulfilled registration or other legal or regulatory requirement.

By clicking on "I ACCEPT" below you are agreeing to the terms and conditions above.

Philip Kenny, Firestone Diamonds	+44 20 8834 1028/+44 7831 324 645
Simon Edwards / Tim Redfern, Evolution Securities (Joint Broker)	+44 20 7071 4330 / 4312
Rory Scott, Mirabaud Securities (Joint Broker)	+44 20 7878 3360
Alexander Dewar, Brewin Dolphin (Nominated Adviser)	+44 131 529 0276
Jos Simson / Leesa Peters, Conduit PR	+44 20 7429 6603/+44 7899 870 450