VANCOUVER, BRITISH COLUMBIA–(Marketwire – Oct. 29, 2012) – Peregrine Diamonds Ltd. (“Peregrine”) (TSX:PGD) is pleased to announce the closing of a $10-million financing with Newstar Securities SRL (“Newstar”), a company wholly owned by Robert Friedland, and with Dundee Corporation (“Dundee”) as announced on October 25, 2012. Under the terms of the financing, Newstar purchased 16.4 million shares and Dundee purchased 3.6 million shares of Peregrine from treasury, for a total of 20 million shares, priced at $0.50 per share, for total net proceeds of $10-million.

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