Shares For Debt Settlement - Accepted

November 5, 2007

KELOWNA, BC – Diamcor Mining Inc. (TSX-V:DMI) (the “Company”) announces that the TSX Venture Exchange has accepted for filing, and the Company has completed its previously announced shares for debt whereby it settled a total of $40,810 in debt through the issuance of 68,017 shares at a deemed value of $0.60 per share.  There were no warrants associated with the settlement and the common shares issued are subject to a 4 month hold period and may not be traded until March 5, 2008.

On behalf of the Board of Directors

Mr. Dean H. Taylor
Diamcor Mining Inc.

Phone: (250) 864-3326
Website: www.diamcormining.com

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

This press release contains certain forward-looking statements.  While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements.  Further, the Company expressly disclaims any obligation to update any forward looking statements.  Accordingly, readers should not place undue reliance on forward-looking statements.  This news release is not for dissemination in the United States, to “U.S. Persons” or to United States of America news services.