Peregrine Announces $3 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 17, 2013) - Peregrine Diamonds Ltd. ("Peregrine") (TSX:PGD) is pleased to announce a non-brokered private placement of 4,616,222 common shares at a price of $0.65 per share for gross proceeds of $3,000,544 (the "Placement"). The common shares issued under the Placement will be sold on a "flow-through" basis pursuant to the Income Tax Act (Canada) and purchased by institutional investors. A cash fee equal to six percent of the gross proceeds will be paid as a Finder's Fee to Secutor Capital Management Corp., an Investment Industry Regulatory Organization of Canada member firm.

Proceeds from the Placement will be used for Peregrine's mineral exploration projects in Canada. The Placement is subject to regulatory approval.