Mr. Bruce Hodgman of Debut Diamonds reports

DEBUT DIAMONDS TO CONVERT DEBT

Debut Diamonds Inc. has agreed to convert its outstanding indebtedness to KWG Resources Inc. into new treasury shares of Debut to discharge a fixed and floating charge to KWG securing $1.44-million of advances. Debut was granted an exemption to the minimum listing price policy of the Canadian Securities Exchange to convert the loan balances into treasury shares of Debut at one cent each. Effective on Jan. 1, 2015, Debut will issue 144,464,000 treasury shares to KWG Resources, upon all outstanding indebtedness and accrued interest being discharged and subscribed to the capital of Debut.

At the annual and special meeting of shareholders of Debut held on Dec. 17, Luce St. Pierre, Martin Doyle, Bruce Reid, Doug Flett and Frank Smeenk were re-elected as directors of the company. A proposed resolution to authorize the directors to consolidate the company's shares was withdrawn, as was a resolution to change the company's name consequent upon such a consolidation being undertaken.