$9,630,000 Raised From Exercise of Warrants; Progress Report on Activities in Botswana, South Africa and Angola, to June 30, 1997.

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--July 8, 1997--BOTSWANA DIAMONDFIEL (VSE BWD.) Botswana Diamondfields Inc.is pleased to announce that $9,630,000 has been raised through the exercise of 3,210,000 warrants. A further 790,000 warrants remain outstanding and may be exercised at a price of $3.50 up to June 6, 1998.

BOTSWANA

In Botswana, where the Company holds approximately 13,000 square kilometers of highly prospective precious stones prospecting licenses, our progress over the past two months has been as follows:

Deception Pan (3,559 square kilometers)

As previously reported (News Release November 20, 1996), reconnaissance soil sampling and laboratory results have revealed a broad northwest trending block of garnets. To the north of the Deception Pan block, a new license covering 652 square kilometers has been issued and reconnaissance (2 kilometer spacing) soil sampling has been completed to close off the anomaly to the south. Laboratory results of 138 samples are awaited. 219 follow-up samples, from 500 meter grids over selected priority parts of the northwest trend have now been collected and washing, heavy mineral separation and microscope examination of these are in progress.

Mopipi Block (1,939 square kilometers)

The previously announced detailed soil sampling program on 500 meter grids is due for completion in July, following which the samples shall be processed in the laboratory.

Tswapong Block (3,912 square kilometers)

The reconnaissance sampling and the laboratory processing continues in the lowland areas. Laboratory results from the previously announced follow-up of two anomalous samples is still awaited.

Jwaneng Block (186 square kilometers)

Two angled percussion drill holes into the mineral anomaly did not intersect kimberlite but recovered indicator minerals. These have been sent to the laboratory for analysis prior to further drilling in this location.

SOUTH AFRICA Water Fissure 

The Phase II evaluation program of bulk testing 10,000 tonnes of kimberlite ore from the Water Fissure is underway. The test mining of ten separate 1,000 tonne samples along the Fissure, which has a strike length of approximately 4.5 kilometers is nearing completion. The commissioning of the HMS plant has been completed and successfully tested. Commissioning of the Sortex/Recovery plant is scheduled in July, following which processing of the samples will commence.

Bellsbank Pipe

Following the establishment of the Bellsbank Pipe as a single kimberlite of approximately 0.6 ha surface area, a Phase II bulk testing program is being prepared to establish the commercial potential.

Rovic Mine

At the Rovic Mine, a drilling and testing program to establish the strength and stability of the host rock to the number 3 pipe, is underway. Once completed, the company and it's consultants will reassess the economic and commercial viability of recommencing mining operations.

ANGOLA

The negotiations in respect of the two diamond concessions continue to make good progress, with the anticipation that both will be concluded in August.

"John M. Darch", President

The Vancouver Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: Botswana Diamondfields Inc.

John M. Darch, 604/682-0566 or 1-800-444-9284

(Toll Free)

604/662-3180 (FAX)

Website: http://www.crewgroup.com

E-mail: [e-mail]