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Early Warning Report Filed Pursuant to National Instrument 62-103

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/28/14 -- This press release is issued by Newstar Securities SRL ("Newstar"), a company wholly-owned by Robert M. Friedland, pursuant to the early warning requirements of National Instrument 62-103 with respect to the common shares of Peregrine Diamonds Ltd. (the "Company").

On February 28, 2014, Newstar acquired ownership and control of 5,982,000 common shares of the Company, representing approximately 4.15% of the Company's issued and outstanding common shares. These common shares were acquired through the facilities of the Toronto Stock Exchange. The aggregate purchase price for the common shares was Cdn$2,392,800 (representing a per common share price of Cdn$0.40).

Prior to this acquisition, Newstar beneficially owned 20,717,142 common shares representing 14.40% of the Company's issued and outstanding common shares. Following this acquisition, Newstar beneficially owned 26,699,142 common shares representing 18.56% of the Company's issued and outstanding common shares. All of these securities are beneficially owned and controlled by Newstar.

Newstar acquired the common shares for investment purposes. Depending on economic or market conditions or matters relating to the Company, Newstar may choose to either acquire additional common shares or dispose of common shares of the Company.

A copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with this acquisition is available under the Company's profile on the SEDAR website at www.sedar.com.

Signed, Robert M. Friedland

Contacts:
Newstar Securities SRL
Penny Schattenkirk
+1.604.331.9801

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