WITHDRAWAL OF AIM & ASX QUOTATION

    ELKEDRA DIAMONDS NL

                                                        Level 1, 130 Hay Street

                                                                Subiaco WA 6008

                                              PO Box 8035, Subiaco East WA 6008

                                                     Telephone: +61-8-6380 2855

                                                     Facsimile: +61-8-6380 1644

                                                 E-mail: elkedra@elkedra.com.au

                                                   Web Site: www.elkedra.com.au

18 October 2007

AIM London Stock Exchange

Dear AIM Shareholders

WITHDRAWAL OF AIM AND ASX QUOTATION

On 29 October 2007 Elkedra Diamonds NL (ASX and AIM: EDN) ("Elkedra")
shareholders will vote on the scheme of arrangement under which Canadian-listed
diamond group Vaaldiam Resources Ltd (TSX: VAA) (Vaaldiam) is to acquire all of
the outstanding shares of Elkedra in exchange for Vaaldiam common shares.

If Elkedra shareholders approve the Scheme and the Scheme is subsequently
approved by the Supreme Court, Elkedra shares are expected to cease trading on
AIM at 7am UK time on 8 November 2007 (and at the close of business on the ASX
on 8 November 2007). Elkedra's AIM admission will then be cancelled on 9
November 2007 (and it will be delisted from the ASX).

Following the Record Date for determining entitlements (anticipated to be 15
November 2007), Vaaldiam will issue 0.52 of a Vaaldiam share for each Elkedra
share held by Elkedra shareholders. Shareholders who have not previously sold
their Elkedra shares will be posted a Vaaldiam share certificate representing
their new Vaaldiam shareholding. The certificates are expected to be despatched
on 23 November 2007 and should be kept in a safe place.

The new Vaaldiam shares are expected to commence to trade on the Toronto Stock
Exchange (TSX) on 23 November 2007.

How can UK shareholders deal in their NEW VAALDIAM shares?

UK shareholders will be able to trade shares in Vaaldiam on the TSX either:

 i. through UK brokers with trading relationships and facilities in place to
    trade on the TSX; or
   
ii. directly with brokers in Canada licensed to trade on the TSX.
   
An account will have to be established with such a broker and the broker will
require your share certificate so that they can get it electronically cleared
into their account. This process normally takes one to two weeks, after which
the broker will be able to execute a sell order on the shareholder's behalf. .

Yours sincerely,


Don Best

Chairman



END

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