Diamcor Announces Amendment To Warrant Expiry Dates

February 4, 2009
KELOWNA, February 4, 2009 – Diamcor Mining Inc. (TSX-V:DMI) (the “Company”), reports that its Board of Directors has authorized an amendment to the expiry date of warrants associated with the Private Placement and Shares for Debt transactions previously announced on February 27, 2007. The original transactions included the granting of 2,777,778 warrants issued in connection with the Private Placement that were to expire on February 8, 2009, and 902,920 warrants issued in connection with the Shares for Debt that were to expire on February 28, 2009. Subject to the final approval of the TSX Venture Exchange, all unexercised warrants from those transactions will have an amended expiry date of August 30, 2009. Of the total combined 3,680,698 warrants granted, 2,041,666 remain outstanding in conjunction with the Private Placement, and 902,920 remain outstanding in conjunction with the Shares for Debt. Each warrant originally entitled the holder to acquire one common share at an exercise price of $0.27 each, and there has been no amendment to the exercise price of any of the associated warrants.

Diamcor Mining 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
President & CEO
Diamcor Mining Inc.

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

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.


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