Corporate Overview RBC Diamond Conference, London May 2008

1. Corporate OverviewRBC Diamond Conference, LondonMay 2008

2. Topics

3. Company Background • Listed on AIM 1998 • Management team • Philip Kenny – CEO • Tim Wilkes – COO • Jan Louw – Director of Operations • 10 diamond geologists on staff • Focused on kimberlite exploration in Botswana • assembled largest land position in Botswana kimberlite fields • Cash flow from toll treatment JV with De Beers in South Africa

4. Diamond Exploration Worldwide Siberia 17% 11% Kasai 9% 3% 10% Craton “Hot spots” Kaapvaal 40% Source: BHP Billiton

5. Diamond Mines in Southern Africa

6. Key Projects – Botswana

7. Why Botswana? • World’s largest diamond producer • 30% by value • geology is favourable for new discoveries • Lowest cost producer • Climate, infrastructure, politics are favourable • Lowest economic threshold of major kimberlite producing regions • Northern Canada, Russia ~ $100-120/tonne • Angola, DRC ~ $25-50/tonne • Botswana ~ $8-10/tonne

8. Orapa • 8 out of 75 economic • Orapa Mine ~ $1B revenue p.a., 70% margin Gope • 1 out of 9 economic • Gem doing feasibility Martin’s Drift • 5 out of 7 economic • Mine being developed Kokong • 79 kimberlites • 19 with diamonds • Rio Tinto evaluating Jwaneng • 3 out of 11 economic • Jwaneng Mine ~ $2B revenue p.a., >90% margin Tsabong • 83 kimberlites • 18 with diamonds • Firestone evaluating Botswana Kimberlite Fields Economic ratio worldwide: 1% Economic ratio Botswana: 7%

9. Jwaneng • 3,000 sq km surrounding Jwaneng • JV with De Beers over 3,000 sq km; De Beers earning 61% to BFS Tsabong • 5,000 sq km • Covers entire kimberlite field Firestone Interests in Botswana Orapa • BK11 advanced evaluation • 10,000 sq km surrounding Orapa • JV with De Beers over 5,000 sq km; De Beers earning 61% to BFS Firestone Licence areas De Beers JV areas

10. Key Projects – Botswana  Tsabong

11. Mir 7ha Udachnaya 20ha MK1 180ha ~200 cpht $200/t ~100 cpht $100/t Premier 32ha ~40 cpht $14/t MK38 ~20ha Kimberley 4ha ~100 cpht $200/t MK45 25ha Catoca 66ha ~46 cpht $28/t Jwaneng 45ha Orapa 111ha ~147 cpht $162/t ~100 cpht $100/t Tsabong Kimberlite Field • One of the largest diamondiferous kimberlite fields in the world • 83 known kimberlites; 18 diamondiferous • MK1 kimberlite - 180 hectares, diamondiferous

12. Tsabong Background • Limited evaluation since first discoveries in the 1980’s • Evaluation limited by overburden – 20 to 80m • Microdiamond and geochem techniques in their infancy • Most kimberlites sampled with 50 kg sample from a single 6” hole • Good diamond potential • Geochemistry favourable for diamonds • Similar setting to Jwaneng • Drilling technology improved significantly • Diamond prices increased substantially • Economic threshold is modest • 20 cpht & $120/carat would support a major mine

13. Tsabong Kimberlites 95%>10Ha

14. Evaluation Programme • Focus on most prospective kimberlites • Indicator mineral chemistry • Diamond content • Size • 14 high interest kimberlites selected • 17 LDD holes planned • ~ 6,000 m of 24” LDD drilling • ~ 3,500 tonnes of kimberlite sample • 6,000 metres of core drilling

15. Kalahari Crater Sedimentary Facies Tuffaceous Facies Intrusive facies MK1 - Historical Work A A’ Significant microdiamond intersections ??? 0 200 400m

16. Kalahari Crater Sedimentary Facies Tuffaceous Facies Intrusive facies MK1 – Firestone Work A A’ 85-120m 14 diamonds 240-275m 15 diamonds 360-390m 26 diamonds 475-508m 62 diamonds 510m

17. MK1 – MiDa Results • 117 microdiamonds recovered from 561 kgs • Size frequency analysis done by Tinus Oosterveld • Plotted micro portion • Extrapolated macro portion • Requires 200-400 diamonds • Ideally 20 stones across the middle sieve sizes • Grade of all samples 20cpht • Grade of sample 4 – 119cpht 20cpht 119cpht

18. LDDH MK1 - Work Programme Kalahari Crater Sedimentary Facies Tuffaceous Facies Intrusive facies DDH Hole 53 A A’ MiDa samples pending 490m 510m 524m 0 200 400m 4 x 100t LDD holes planned

19. Bulk sampling – LDD Rig • Large diameter drill rig • 18” & 24” holes • Drill to 700m • Allows rapid recovery of bulk sample

20. Bulk sampling – DMS plant • 10 tonne per hour, 50-100 tonne per day • No reliance on labs • 25-30 bulk samples in 2008 • Mobile

21. MK1 - Volume Model -0 -80 MK1-101 (m) -520 20

22. MK1 - Preliminary Volume Estimates 21

23. MK1 - conceptual modelling Base case - @20cpht, $120/ct = $24/tonne revenue $10/tonne opex 1.1 B tonnes 24Mt per annum 50 year LOM Start 2014, full tonnage 2015 22

24. High Interest Kimberlites 23

25. High Interest Kimberlites NS = Not yet sampled

26. Olivine macrocrysts Graded bedding Mantle eclogite MK45 Core

27. MK38 Core

28. Mini Bulk Sampling Programme - 2008 Rig 1 Rig 2

29. Tsabong Evaluation Timeline

30. Tsabong Exploration 29

31. MK6 MK4 MK51 MK1 MK37 MK1 Tsabong Exploration • >80 geophysical targets to drill. • 13 kimberlites discovered since Nov 06 • 8,000 metres of drilling planned

32. New discoveries

33. Tsabong Exploration Timeline Phase 1 Geophysics Discovery drilling KIM and Mida analyses Phase 2 Geophysics Discovery drilling KIM and Mida analyses Ranking and evaluation

34. Tsabong Town

35. 4 Outlook

36. Botswana projects • 92 kimberlites, 23 diamondiferous • Expect more than 100 kimberlites by end 2008 • Bulk sample 25-30 kimberlites by end 2008 (3 samples completed) • Botswana economic ratio 7% • Good prospects for significant economic discovery • New projects identified

37. Shares in issue: 55 million, 63 million fully diluted ~45% institutions; ~26% retail; ~29% management Market cap £106 million Cash Dec 07 ~ £5 million Major shareholders AXA/Framlington - 10% Gartmore - 9% JPMorgan - 6% Artemis - 6% Corporate Information

38. Summary Experienced management team Cash and cash flow Highly prospective kimberlite portfolio Bulk sampling and exploration news flow in 2008

39. Disclaimer The information contained in this presentation ("Presentation") has been prepared by Firestone Diamonds plc (the "Company") and is being communicated for general background informational purposes only. The Presentation has not been independently verified and the information contained within is subject to updating, completion, revision, verification and further amendment. While the information contained herein has been prepared in good faith, neither the Company, nor its shareholders, directors, officers, agents, employees, or advisors give, has given or has authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortuous, statutory or otherwise, in respect of the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising from this Presentation. In communicating this Presentation, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentation which may become apparent. Information contained in this Presentation is the property of the Company. It is made available strictly for the purposes referred to above. The presentation and any further information made available to any recipient may not be reproduced, used or disclosed without the prior written consent of the Company. This Presentation shall not be copied, published, reproduced, or distributed in whole or in part at any time without the prior written consent of the Company.