October 10, 2006 Vancouver, BC – Rockwell Ventures Incorporated (“Rockwell” or the “Company”) (TSXV: RVI; OTCBB: RVINF) and Durnpike Investments (Pty) Limited (“Durnpike”), a private South African company, are pleased to announce large high value gemstone diamond recoveries from two South African alluvial diamond properties: the Holpan-Klipdam, located north of Kimberley, and Wouterspan, located on the middle Orange River west of Kimberley.
At Wouterspan, stones of 23.73 carats, 35.73 carats, 78.62 carats and 86.35 carats were recovered during September. The 23.73 and 78.62 carat stones are of exceptional clarity and colour with characteristics similar to the large 156 carat D-flawless stone reported in a press release on July 24, 2006. The remaining two large stones are clean light yellow stones typical of this deposit. All of these stones are presently subject to an appraisal and valuation.
At Holpan-Klipdam, four stones in excess of 20 carats each were recovered during September; the largest is a high quality white stone of 43.95 carats. These stones are also currently undergoing assessment and valuation.
In 2006, Wouterspan has produced 42 stones larger than 20 carats and Holpan-Klipdam mining operations have yielded 24 stones larger than 20 carats.
At its previous sale of diamonds (13 September 2006), representing less than 10 days of production, 444.94 carats of run of mine production from Wouterspan achieved a sale price of US$1051 per carat and 572.50 carats of run of mine production from Holpan-Klipdam achieved a sale price of US$1022 per carat.
Rockwell President and COO John Bristow commented: “Management is encouraged by the on-going improvements being made at the operations in the Kimberley area and the regular recovery of the exceptional ‘specials’ (+2 carats and above stones) as noted above. The production mix from the Kimberley operations ensures that the Company is uniquely placed in one of the highest value segments of the world diamond production. The size and quality of these stones provide the Company with the opportunity to further leverage its revenue potential”.
On a worldwide basis, 2-carat and larger diamonds comprise only 7% of world production, but account for about 45% of the value of that production.
Diamonds produced at Wouterspan in September
23.73 carat (on left) and 78.62 carat (on right)
The Holpan/Klipdam and Wouterspan properties are two of four alluvial properties in which Rockwell can gain an interest by acquiring Durnpike, pursuant to an agreement in principle announced on June 30, 2006. The other properties are the Galputs Minerale in South Africa and the Kwango River Project in the Democratic Republic of Congo. In addition to the operating alluvial operations at Holpan-Klipdam and Wouterspan in the Kimberley district, Rockwell is also pursuing other alluvial projects in RSA, including Galputs. In the DRC, the Company is in the process of establishing logistics and undertaking a geological investigation of an alluvial project on the Kwango River in the southwestern portion of the country.
For further details on Rockwell Ventures Inc., please visit the Company’s website at www.rockwellventures.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
On behalf of the Board of Directors
President and COO
No regulatory authority has approved or disapproved the information contained in this news release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statement
This release includes certain statements that may be deemed “forward-looking statements”. Other than statements of historical fact all statements in this release that address future production, reserve or resource potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, availability of capital and financing, geopolitical uncertainty and political and economic instability and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Rockwell, Investors should review Rockwell’s annual Form 20-F filing with the United States Securities and Exchange Commission www.sec.com and the Company’s home jurisdiction filings that are available at www.sedar.com.