October 30, 2006. Vancouver, BC. Rockwell Ventures Inc. (“Rockwell or the “Company”) (TSXV: RVI; OTCBB: RVINF) and Durnpike Investments (Pty) Limited (“Durnpike”), a private South African company, announce that a sale price of US$4.4 million, or US$29,123 per carat, was received for a 152.11 carat D-colour diamond that was recovered from the Wouterspan operations in early September. This stone was sold by sealed tender during the week of October 16. A picture of this exceptional gemstone is shown below.
The companies are also pleased to announce that excellent prices have been received for run of mine production at the Holpan/Klipdam operations north of Kimberley, South Africa, and for the Wouterspan production. Wouterspan is located on the Orange River to the west of Kimberley. In September, 1,292.03 carats of diamonds were produced at Holpan/Klipdam, which sold for US$1,247,636.10. This is an average value of US$965.64 per carat.
A total of 1,229.09 carats were recovered from Wouterspan in September. The diamonds were sold for US$2,792,166.42 for an average value of US$2272.73 per carat. These numbers exclude the 152.11 carat gemstone.
John Bristow, President and COO of Rockwell commented “We are encouraged by the strength of prices at the large stone – high quality end of the market and the great returns received from the most recent tenders. The 152.11 carat stone was the second 100 plus carat stone recovered at Wouterspan in 2006, and is a testament to the exceptional size and quality of diamonds recovered from the alluvial deposits of this area.”
Rockwell and Durnpike have signed an Agreement in Principle with respect to the acquisition of four alluvial diamond properties, as described in a news release of June 30, 2006, including the Holpan/Klipdam and Wouterspan properties. Completion of the acquisition is subject to, among other things, receipt of the required regulatory approvals, and is now expected to occur in early November 2006.
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.
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 each 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. There is no certainty of the financing completing. 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, and 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.