Diamcor Mining Inc. plans to complete a private placement financing on a brokered and non-brokered basis, of up to 3,000,000 units, at a price of $CDN1.00 per unit or gross value of CDN$3,000,000.

Each unit will include one common share of the company and one-half of one common share purchase warrant. Each whole Warrant will entitle the holder thereof to purchase one Share at an exercise price of CDN$1.25 for a period of 36 months following the date of issuance.

The Offering is subject to the approval of the TSX Venture Exchange and formalities of definitive documentation and filings.

The funding from the Offering will be directed to support advancement of the Krone-Endora at Venetia Project, acquiring additional operational items to help enhance the effective treatment of larger material in the +26.0mm size fractions, and for general and administrative purposes.

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100 percent of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project.