prnews






VANCOUVER, Dec. 5, 2011 /PRNewswire/ - Rockwell Diamonds Inc. ("Rockwell" or
the "Company") (TSX: RDI; JSE: RDI; OTCBB: RDIAF) is pleased to
announce the sale of a unique investment diamond recovered from its
Saxendrift mine, which formed one of a pair of matching D-color,
flawless clarity, diamonds with excellent cut, polish and symmetry
weighing approximately 35 carats each. The diamonds were sold on
auction by Christies in Hong Kong on November 27, 2012 fetching a price
of $232,000 per carat including the buyer's premium.


The 105.53 carat rough diamond was recovered from Saxendrift in October
2009 and sold into the Company's beneficiation joint venture with
Steinmetz Diamond Group. Rockwell's share in the profit from the sale
of the 35.77 carat polished diamond added a further $1.9 million to its
rough sale price. In addition, two emerald cut DIF diamonds weighing
3.07 carats and 2.03 carats respectively, were produced from this rough
diamond.


"This once again demonstrates the benefits of our strategic partnership
with Steinmetz, which has extensive benefits for both partners,"
explains James Campbell, CEO, Rockwell. "Rockwell was the first diamond
producer to forge such an agreement, enabling us to participate in the
downstream value created from the polishing and cutting of our stones
into unique investment diamonds. At the same time it has enabled
Steinmetz to secure high quality stones such as those typically
produced by Rockwell."


About Rockwell Diamonds:


Rockwell is engaged in the business of operating and developing alluvial
diamond deposits, with a goal to become a mid-tier diamond mining
company. The Company has three existing operations, which it is
progressively optimizing, two development projects and a pipeline of
earlier stage properties with future development potential.


Rockwell also evaluates merger and acquisition opportunities which have
the potential to expand its mineral resources and production profile
and would provide accretive value to the Company.


No regulatory authority has approved or disapproved the information
contained in this news release.


Forward Looking Statements


Except for statements of historical fact, this news release contains
certain "forward-looking information" within the meaning of applicable
securities law. Forward-looking information is frequently characterized
by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements that
certain events or conditions "may" or "will" occur. 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 uncertainties and costs related
to exploration and development activities, such as those related to
determining whether mineral resources exist on a property;
uncertainties related to expected production rates, timing of
production and cash and total costs of production and milling;
uncertainties related to the ability to obtain necessary licenses,
permits, electricity, surface rights and title for development
projects; operating and technical difficulties in connection with
mining development activities; uncertainties related to the accuracy of
our mineral resource estimates and our estimates of future production
and future cash and total costs of production and diminishing
quantities or grades if mineral resources; uncertainties related to
unexpected judicial or regulatory procedures or changes in, and the
effects of, the laws, regulations and government policies affecting our
mining operations; changes in general economic conditions, the
financial markets and the demand and market price for mineral
commodities such and diesel fuel, steel, concrete, electricity, and
other forms of energy, mining equipment, and fluctuations in exchange
rates, particularly with respect to the value of the US dollar,
Canadian dollar and South African Rand; changes in accounting policies
and methods that we use to report our financial condition, including
uncertainties associated with critical accounting assumptions and
estimates; environmental issues and liabilities associated with mining
and processing; geopolitical uncertainty and political and economic
instability in countries in which we operate; and labour strikes, work
stoppages, or other interruptions to, or difficulties in, the
employment of labour in markets in which we operate our mines, or
environmental hazards, industrial accidents or other events or
occurrences, including third party interference that interrupt
operation of our mines or development projects.


For further information on Rockwell, Investors should review Rockwell's
annual Form 20-F filing with the United States Securities and Exchange
Commission http://www.sedar.com/">www.sedar.com.




SOURCE Rockwell Diamonds Inc.