Centaurus Diamond Technologies Provides Update on Unique Cultured Diamond Patents

LAS VEGAS, Nov. 12, 2012 /PRNewswire/ -- Centaurus Diamond Technologies Inc. (the "Company" or "Centaurus") (OTCBB: CTDT) continues its drive toward perfecting the manufacture of diamonds through the Magnatek process.

US Patent 7,854,823 entitled, "Synthesis of Diamond by Extraction of a Pulse Derived from the Abrupt Collapse of a Magnetic Field", was issued on December 21, 2010. This technology is a process for converting carbonaceous material into diamond, utilizing the compressive force derived from an abruptly collapsing magnetic field. The Magnatek diamond manufacturing process has met and in some areas exceeded corporate mandates regarding the ability to produce diamonds. Mr. Alvin Snaper, principal researcher and chairman of the firm, has expanded the carbon sources for diamond creation to include graphite along with other carbon sources including the use of nuclear grade carbon. This inclusion of new source material has greatly eased any supply chain constraints and has the positive potential of reducing the wear on manufacturing machinery. The firm still enjoys a close working relationship with its laboratory in Rhode Island having secured the talents of the chief scientist there on a full time basis this past quarter. The Centaurus team conducted a plant visit to Tabco Products Inc. on June 25 - 27, 2012 and signed an agreement on July 17, 2012 to commence work on the Centaurus' diamond production process (Magnatek).

Anticipating considerable production ramping, the firm has begun its due diligence into additional funding for staffing and plant expansion. Centaurus Diamond Technologies Inc. is a diamond technology company and is in the process of becoming a mass diamond manufacturing firm. Despite the volatility witnessed in the financial markets of the entire world, the firm presently is in the black financially and has laboured dutifully, over the last quarter, to achieve the rollout of a new and unique diamond product. 

All of this began in 2006, when a sample "cultured" diamond was sent to the Gemological Institute of America (GIA). The resultant report #14882271 confirmed the synthetic source as diamond after resubmission by an independent outside consultant.The Gemological Institute of America (GIA) is the world's foremost authority on diamonds, colored stones and pearls. GIA exists to protect all purchasers of gemstones, by providing the education, laboratory services, research and instruments needed to accurately and objectively determine gemstone quality. For more information on the GIA visit http://www.gia.edu.

Recently, The World Federation of Diamond Bourses (WFDB) called for a meeting on the issue of 'undisclosed synthetic diamonds'. The meeting, held in Las Vegas, included leading parties of the International Diamond Manufacturers Association (IDMA), the Diamond Trading Company (DTC) and leading diamond certification laboratories. It was decided that all would join efforts to preserve the transparency of the diamond trade for the benefit of the global business to ensure that consumers can receive full disclosure about the diamonds they purchase. As the quality of Centaurus Diamond Technologies' product has improved, the firm has investigated those universally accepted methods whereby our diamonds may be marked or identified for the broader market and all diamond-centric regulatory agencies as being man-made in origin.

About Centaurus Diamond Technologies
Centaurus has been established to fully commercialize its proprietary, cost-efficient and high-volume diamond production method to provide industrial quality diamonds. The Company's patented technology enables the production of "cultured" diamonds that are chemically, atomically and structurally identical to natural diamonds. The Gemological Institute of America has tested the Company's "cultured" diamonds and has confirmed they are diamonds according to their testing protocols.

For further information, please contact:
American Capital Ventures
Tel: 1-305-918-7000

Notice Regarding Forward-Looking Statements 

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Exchange Act. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements typically involve risks and uncertainties and actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

SOURCE Centaurus Diamond Technologies Inc.