Quarterly Report

RNS Number:0513Q
BDI Mining Corp
24 January 2007


London office:
Level 5
22 Arlington Street
London SW1A 1RD
England

T: +44 (0) 207 016 5106
F: +44 (0) 207 016 5101


NEWS RELEASE

CEMPAKA DIAMOND MINE QUARTERLY UPDATE

                                4th Quarter 2006

LONDON - 24th January 2007 - BDI Mining Corp. ("the Company") announces its
quarterly sales and production report for its Cempaka alluvial gem diamond
operation in SE Kalimantan, Indonesia.



Highlights:

*    Revenue from diamond sales up 40% over Q3
*    Mining operations commence at Cempaka Main Channel
*    Encouraging valuation for Main Channel Production
*    Potential for resource increase at Danau Seran


Production

Production statistics for the period 1 October 2006 to 31 December 2006 were as
follows:

+----------------------------+--------------+--------------+---------------+
|                            |1 Oct - 31 Dec|1 Jul - 30 Sep|1 Apr - 30 Jun |
|                            |              |              |     2006      |
|                            |     2006     |     2006     |               |
+----------------------------+--------------+--------------+---------------+
|Overburden mined (bcm)      |       775,785|       530,440|        555,356|
+----------------------------+--------------+--------------+---------------+
|Gravels processed (bcm)     |        70,985|        73,306|         72,146|
+----------------------------+--------------+--------------+---------------+
|Diamond production (carats) |     12,660.06|     14,593.18|       9,551.84|
+----------------------------+--------------+--------------+---------------+
|Au & Pt concentrates (grams)|         9,554|        11,340|       9,833.79|
+----------------------------+--------------+--------------+---------------+


The quarter marked the start of mining in the main Cempaka Channel as operations
moved into Phase II expansion of the mine. Accordingly, 266,544 bcm ("bench
cubic meters") of overburden was mined from the Cempaka Channel during the
period as the first mining pits were excavated. The resultant additional
stripping represented an increase of over 46% in waste movement on the preceding
quarter. The initial gravels from the Cempaka channel were mined and processed
during the period as reported on 20th December 2006.


Operations at the Danau Seran channel continued to perform strongly, with record
monthly diamond production of 6,524 carats being achieved during October. Due to
the onset of the wet season however, December production was down on previous
months as high rainfall impacted mining operations. Given the operating
experience accumulated during the previous wet season these impacts have been
minimized and operations remain on schedule.



Sales

During the quarter, a total of 16,099.85 carats of diamonds were sold generating
total gross diamond revenues of US$3.45 million, improving by 40%, gross diamond
revenues from last quarter. As stated above, the first diamond recoveries from
the Cempaka channel also took place during the quarter, with the initial 702
carat parcel achieving an independent valuation of US$266 per carat. As reported
on the 20th December 2006, this figure reflects the larger than average stone
size and better stone quality than diamonds recovered from mining at Danau
Seran.


Despite continued weakness in rough diamond market conditions, the Company's
medium term forecasts for rough diamond prices remain strong.


Gold and platinum by-product sales (12.5 kg of gold and platinum concentrates)
totaled US$159,513 for the period, while inventory as at 10 January was 2,634.20
carats of gem diamonds and 1.9 kg of gold and platinum concentrate.



Exploration

Drilling to the west of current mining operations at Danau Seran have confirmed
the downstream continuity of diamond bearing gravels in an area previously
untested. Recently compiled drill-hole data has indicated the potential to
expand the current resource base and thus extend the life of operations in the
Danau Seran area.


This newly identified extension of the Danau Seran palaeochannel has previously
not been included in the current mine plan, and an infill drilling campaign is
now underway. This drilling will target the refining of current drill hole data
to allow further mining of these western extensions to be included in revised
mine plans for early 2007.





BDI Mining Corp is an Asia-Pacific focused mining and exploration Company whose
primary assets are the Cempaka Diamond Mine in Indonesia, and the 100%-owned,
Woodlark Island gold project in Papua New Guinea.


BDI Mining Corp's exploration is supervised by the Company's Managing Director
and CEO, Mr Lee K. Spencer, MSc, MAusIMM, a Competent Person as defined by
Clause 10 of the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC Code - 2004 Edition). Mr. Spencer has reviewed
all references to resources and exploration results contained herein and have
approved them for release.





For further information, please contact:

BDI Mining Corp.
David Lenigas (Chairman)                      Tel: +44 (0) 788 182 5378
Martin Horgan (Director)                      Tel: +44 (0) 777 867 0342

Corporate Affairs                             Tel: +61 (0) 448 812 128
General email                                 info@bdiminingcorp.com
Website                                       www.bdiminingcorp.com

Ruegg & Co. (AIM Nominated Advisor)
Brett Miller                                  Tel: +44 (0) 20 7584 3663

Hichens, Harrison & Co. (Joint AIM Broker)
Dave Paxton/Adam Wilson                       Tel: +44 (0) 20 7382 4473

WH Ireland Ltd. (Joint AIM Broker)
Philip Haydn-Slater                           Tel: +44 (0) 20 7220 1690

Parkgreen Communications
Justine Howarth / Clare Irvine                Tel: +44 (0) 20 7851 7480




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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