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Black Diamond Group Secures Phase II Construction Contract of Workforce Housing Project

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Jan 11 2011

Black Diamond Group Limited ("Black Diamond" or "the Company") (TSX:BDI), a leading provider of modular accommodation and energy services in North America, is pleased to announce it has secured the construction and long-term rental contract for the second phase of a previously announced upscale remote workforce housing project, located in north central British Columbia.

The second phase of the project brings the total project value to $15 million and the total number of beds to 440. Phase one is currently under construction and construction on the next phase will begin in February 2011. Full occupancy for phase two is slated for April 2011. The project will provide premier housing for a Canadian mineral development and exploration company located 155 km northwest of Prince George, B.C.

The capital expenditure for both phases of this project falls within the Company's announced $40 million of capex for 2011.

Source: http://www.blackdiamondlimited.com/

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