Karelian Diamond, Rio Tinto Extend Confidentiality Agreement Until June 2020

(RTTNews) - Karelian Diamond Resources plc (KDR.L), the diamond exploration company focussed on the Karelian Craton in Finland, Thursday announced that it has signed an amendment letter to extend the existing confidentiality agreement (with Back in Rights), as announced on 22 July 22, 2010, with Rio Tinto Mining and Exploration Limited until June 30, 2020.

Under the deal, Rio Tinto Mining, of Anglo-Australian mining giant Rio Tinto Plc (RTNTF, RIO, RIO.L, RTPPF), may disclose to Karelian confidential information and physical geological samples relating to exploration in Finland for the purpose of Karelian, considering that information in relation to Karelian's potential and existing exploration programmes in Finland.

For the disclosure of the confidential information, Karelian has agreed that Rio Tinto will have the option to earn a 51 percent interest in any project identified by Karelian in Finland by Rio Tinto paying the direct cash expenditures incurred in developing the project.