CANABRAVA DIAMOND CORPORATION ANNOUNCES MAJOR JOINT VENTURE: CANABRAVA DIAMOND AND PLATINUM PROJECT - BRAZIL.

VANCOUVER, British Columbia--(BUSINESS WIRE)--APRIL 12, 1995-- CANABRAVA DIAMOND CORP(VSE: CNB) TECK CORPORATION (TEK-T,M,V) and CANABRAVA DIAMOND CORPORATION (CNB-V) are pleased to announce the signing of a Letter Agreement to form a joint venture on the Canabrava Diamond and Platinum Project.

The project is located about 400 kilometres southeast of the capital city of Brasilia. The Canabrava project is comprised of 23 properties totalling 748,900 hectares (1.85 million acres) of exploration concessions. To date, over 100 kimberlite/lamproite pipes have been discovered of which 10 clusters are known to be the source for alluvial diamonds with stones up to 354 carats recovered from historical diggings. A total of nine platinum targets have also been delineated with grades of up to 4.5 grams per tonne platinum and 0.5 grams per tonne palladium in outcrop.

Under the terms of the Letter Agreement, which is conditional upon completion of a satisfactory due diligence review within 45 days and regulatory approval, Teck Corporation will:

1. purchase, by way of a private placement, 750,000 shares of Canabrava at $3.00 per share for total proceeds of $2,250,000. In addition, one-half warrant will be attached to each share. With one full warrant Teck can purchase one share at $3.75 within 18 months of the date of the private placement.

2. have the option to earn a 60% equity in the project by:

a) spending a minimum of US $10 million over the next five years with a minimum expenditure of US $2 million in the first year and funding all additional exploration up to and including a positive bankable quality feasibility study. If the feasibility study is not completed or commissioned within the five year option period then Teck can extend its option for a further five years by making expenditures until a positive feasibility study is completed;

b) making cash payments to Canabrava totalling US $2 million over the five year option period;

c) arranging all financing and providing all performance guarantees to put the deposit into production;

d) making the production bonus payment to Canabrava of US $20 million less any option payments already made within 30 days of the start of production.

Teck will have the option to purchase a further 10% interest by paying to Canabrava a cash value determined by independent valuation based on the results defined in the feasibility study.

Certain costs incurred by Teck are recoverable from 90% of the net proceeds from production. Teck will be the operator with one representative from Canabrava directly involved in the day to day exploration.

Canabrava Diamond Corporation is 51.8% owned by Southwestern Gold Corporation (SWG-V,T).

Both companies look forward to a successful joint venture.

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Note to editors: The Vancouver, Toronto and Montreal Stock Exchanges have not reviewed and are not responsible for the adequacy or accuracy of this release.

CONTACT: Canabrava Diamond Corp.

George H. Plewes, 604/669-2925

or

Teck Corp.

Bill Meyer, 604/687-1117

INDUSTRY KEYWORD: MINING REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or