Canabrava Completes Sale of Brazilian Assets to Black Swan.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 16, 2003

Canabrava Diamond Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002)
TSX Transfer from Stack Pointer to Index
TSX True Space Extension VENTURE: CNB CNB Czech National Bank
CNB Centro Nacional de Biotecnologia
CNB City National Bank
CNB Citizens National Bank
CNB Croatian National Bank
CNB Chloronitrobenzene
CNB Corresponsales No Bancarios (Spanish, Colombia) ) announced today that it has completed the sale of its Brazilian assets to Black Swan Resources Ltd. through the disposition of Canabrava's wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners. , Parima Mineracao SA.

The total acquisition cost for Parima Mineracao SA was US$225,000, payable in installments, with the remaining installment of US$75,000 due on December 15, 2003. Canabrava will also receive a 2% royalty on gross revenue generated by the production and sale of diamonds from any future mine developed within the 340 square kilometre Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:

1,000,000 m²
100 ha (hectare)

Conversely:

1 m² = 0.

claim area acquired, plus a 1% royalty on a large area covered by a 6,231 square kilometre geophysical survey Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. surrounding the claims acquired.

Canabrava Diamond Corporation is exploring for diamonds in Canada both independently and through joint ventures with Inco Limited, Majescor Resources Inc. and Navigator Exploration Corp. The Company is 33.6% owned by Southwestern Resources Corp.

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Publication:	Business Wire
Geographic Code:	4EUUK
Date:	Sep 16, 2003
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