2006


So Ver First Quarter Production Update

 

KELOWNA, BC, Sep. 1, 2006 (Canada NewsWire via COMTEX News Network) -- TSX.V Symbol (DMR)

Mr. Wayne Wolf, President, Diamcor Mining Inc. ("Diamcor") is pleased to announce the first quarter operational results for diamonds recovered at the Company's So Ver tailings re-treatment facility located near Kimberley, South Africa.

For this first quarter period, from April 1, 2006 thru June 30, 2006, the production results from continued operations were as follows. For the month of April 2006 a production run time of 84.86% allowed the plant to process 20,833 tons of raw tailings, which resulted in the recovery of 2,478.86 carats of diamonds. May 2006 showed a similar production run time of 81.25%, with an increase in the raw tailings material being processed to 24,282 tons, which produced 1,870.66 carats of diamonds. June 2006 production run time was 93.47%, with 22,220 tons of raw tailings material processed which resulted in the recovery of 1,507.42 carats of diamonds. The above results combined for the entire quarter produced an average production run time for the period of 86.53% with the total raw tailings material processed during the quarter at 67,335 tons, for an average of 22,445 tons of raw tailings processed per month. The total diamonds recovered for the period was 5,856.94 carats, for an average of 1,952.31 carats per month.

These So Ver results exceeded Management expectations for the period, given the facility had just return to full production after the completion of its use during the fourth quarter for the previously announced initial Doornkloof exploration program. The Company had focused its efforts at So Ver in the first quarter on the remaining better quality tailings piles in an effort to maximize diamond recoveries for the period, and to offset some of the associated lost revenue incurred due to the exploration work performed in the fourth quarter.

Diamcor is a Canadian based junior diamond mining and exploration company which trades on the Canadian TSX Venture Exchange under the symbol DMR.

Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: Diamcor Mining Inc.

Mr. Wayne Wolf
Diamcor Mining Inc.
Phone: (250) 862-3212
Website: www.diamcormining.com

Copyright (C) 2006 CNW Group. All rights reserved.