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Dolat Ventures, Millenium Mining Discovers First Diamonds

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  Published in Stocks and Investing on Tuesday, June 1st 2010 at 4:45 GMT by Market Wire
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NEW YORK, NY--(Marketwire - June 1, 2010) - Dolat Ventures Inc. (OTCBB: [ DOLV ]) announced today that its subsidiary Millennium Mining, located in the heart of the Sewa River in Sierra Leone, announced the company's first tests of its washing plant have brought in 300 stones that are in total 187 Carats. The largest stone found was six carats and initial tests have averaged 0.40 carats per ton with over 80% gem quality.

"The first parcel was done on a very small test of 15-20 tons of gravel per day and the diamonds were extracted from the ground by hand and washed in a two-ton wash plant," announced Dovid Hauck, President of Dolat Ventures.

The stones found in the first test were mostly white with a few smaller yellow and green stones with an estimated market value, after polishing, of USD $65,000. The average stone found in the first test averaged 0.62 carats.

"These initial tests have been very successful and with our finds averaging 0.40 carats per ton with the one- six carat stone found worth $ 40,000 after cutting. All of these stones were found over the course of a few days on a very minor test run. As we move our operating capacity up to 1500 tons of gravel per day we can expect by using these test numbers to average finding 600 carats of diamonds per day," added Mr. Hauck. "At these numbers and with the cost per carat averaging around $250, we will expect to be doing close to $4 Million dollars in total sales per month. With the new equipment that we have already purchased and installed we expect that these numbers will become the average very quickly in the upcoming months for Dolat Ventures," Mr Hauck declared.

A report from Diamond New World said Sierra Leone exported $35 million worth of diamonds in the first five months of 2010, indicating a 25 percent increase over the corresponding months in 2009.

For more information please visit [ www.dove-diamonds.com ]

About Dolat Ventures Inc. (OTCBB: [ DOLV ])
Dolat Ventures Inc., through its wholly owned subsidiary Dove Diamonds & Mining and Millennium Mining LLC, intends to mine, sell, market, cut and distribute its diamonds and gems around the world. The company intends to purchase rough and uncut diamonds and gems from international suppliers globally. Millennium Mining LLC incorporated in Sierra Leone as a Private Limited Liability Company on March 3, 2008 and commenced commercial operations after obtaining its license from the Ministry of Mineral Resources (Sierra Leone). The company's core operations are to mine extracted, refine, and purify precious metals and stones. The Company buys, sells, distributes and exports diamond bauxite, rutile gold, silver and all other precious minerals in Sierra Leone and internationally. The company entered into a mining agreement to dredge mine land in the towns of Gandorhun and Njala in the Tikonko Chiefdom, Bo district of Sierra Leone. This area is known as the Baimbawai Pool of the Sewa River.

Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.

These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.