2007


Diamcor Announces Initial Exploration Programme Details for Hardcastle Alluvial Project

 

November 19, 2007, KELOWNA, BC – Diamcor Mining Inc. (TSX-V:DMI) (the “Company”) today announces it has begun the initial exploration programme on the recently announced Hardcastle Alluvial Project (the “Project”) located on the north bank of the Middle Orange River (the “Property”). The initial exploration programme is being complete with the assistance of Dr. Norman Lock (BSc, PhD, CGeol FGS MGSSA, PrSciNat) of MSA Geoservices (Pty) Ltd. (“MSA”), acting as the Independent Qualified Person, and Diamcor’s Mr. James Hawkins (BSc, PGeoph), as Exploration Manager and Qualified Person for the Company. Diamcor’s South African operating team is assisting as required.

ASTER Satellite Imagery Interpretation

The initial ASTER (Advanced Spaceborne Thermal Emission and Reflection Radiometer) Satellite Imagery and interpretation procured as part of the due diligence completed prior to closing (see “Hardcastle Alluvial Diamond Project” Technical Report (NI 43-101) filed with SEDAR, dated November 7, 2007) identified areas of geological interest which the Company believes could contain diamond bearing alluvial gravels. The Company identified several areas of interest that collectively cover approximately 30% of the announced 3,603.44 hectare (approximately 8,900 acre) surface area of the Property. To further augment these findings, a low level helicopter based airborne geophysical survey will now be completed to test these areas of interest and other sections of the Property that may contain gravels not identified by the ASTER interpretation.


Helicopter Based Airborne Geophysical Survey

The Company has retained New Resolution Geophysics (“NRG”) of Pretoria, South Africa to conduct approximately 700 line kilometres of helicopter gradiometer and radiometric survey on an area comprising over 70% of the Property. Alluvial gravel deposits in portions of the Middle Orange River in which the Project is located can carry up to 30% banded iron formation clasts evenly distributed throughout the depositional profile, making the entire gravel sequence an optimal magnetic target for high resolution airborne surveys. Various other properties in the area have previously been surveyed using services such as the Council for Geoscience’s fixed-wing airborne magnetometer aircraft and interpretation of that magnetic data has lead to usable definition of terraces and palaeo-channels.

The Company’s planned NRG survey specifications will be comprised of flying north-south survey lines at a 50 metre line separation at an optimal ground clearance of 50 metres. The slower acquisition speed inherent in a helicopter survey, along with a much lower survey altitude, tighter line separation, and the higher resolution gradiometer instrument is expected to yield reliable geophysical data. The Company expects to have the results from the final interpretation of this low level helicopter data by mid-December 2007. The interpretation will be conducted by GAP Geophysics of Johannesburg, South Africa. GAP is a well known company with extensive experience in the interpretation of airborne magnetic data for gravel deposits. The Company expects the interpreted results to more accurately delineate potential gravel terraces and palaeo-channels on the Property, which should aid in the calculations of the gravel tonnages when combined with the results of ASTER imagery, and the planned drilling programme.

Drill Programme

The Company in proceeding with an extensive drilling programme of approximately 200 percussion and reverse circulation drill holes to further aid the Company in defining potential gravel thicknesses and locations. Planned initial drilling will take place on identified areas of interest every 100 metres along traverse lines 400 metres apart and parallel to the northern boundary of the Property. Holes will be drilled to bedrock (expected to be in the order of 10 metres depth) and sample chips will be collected and recorded every metre to help define overburden, calcrete, and gravel thicknesses. Independent geologists from MSA and the Company’s operational management have been mapping all applicable GPS based coordinates for the Property, and it is expected drilling will commence in the next few days and conclude toward the end of December, 2007.

Location of drill holes, identification of samples, and recording of thickness of each sequence of the drilling programme will be conducted under the independent supervision of an MSA field geologists in order to comply with, and further enhance, the Company’s NI 43-101 reporting criteria.

Final Exploration Analysis

The drilling data will be used in conjunction with the airborne and satellite geophysical interpretation to develop a model of the inferred gravel deposits located on the Property. Based on the available cubic metres of gravel defined by this model, and a regionally-averaged specific gravity of similar gravels, the Company expects to generate an estimate of the total gravel tonnage for its ongoing estimated valuation and reporting purposes. If these results are encouraging, the Company will move bulk sampling treatment equipment to the Property to process several hundred thousand tonnes of gravel from key areas identified. The Company anticipates that a bulk sample of this magnitude would enable the Company to determine the diamond bearing potential (if any) of the gravels on the property and to complete initial grade and valuation calculations in respect of any such diamond bearing material.


Diamcor Mining Inc. is a junior resource company with established operations and production history in South Africa. The Company is determined to use this established operating history and industry knowledge to increase its current production of diamonds through the development and/or acquisition of additional quality properties in the region.

On behalf of the Board of Directors

Mr. Dean H. Taylor
CEO
Diamcor Mining Inc.
DTaylor@Diamcormining.com

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.

WE SEEK SAFE HARBOUR