2009


Diamcor Announces Amendment To Warrant Expiry Dates



August 24, 2009

KELOWNA, August 24, 2009 – Diamcor Mining Inc. (TSX-V:DMI) (the “Company”), reports that its Board of Directors has authorized an amendment to the expiry date of the warrants associated with previous Private Placement and Shares for Debt transactions.

Pursuant to a Private Placement and Shares for Debt transaction, both previously disclosed in the Company’s February 27, 2007 news release, an aggregate 2,777,778 warrants were issued bearing an original expiry date of February 8, 2009 and an exercise price of $0.27 per share and an aggregate 902,920 warrants were issued bearing an original expiry date of February 28, 2009 and an exercise price of $0.27 per share. On February 4, 2009, the Company issued a news release announcing the extension to the expiry date of these warrants to August 30, 2009, and the extension was approved by the TSX Venture Exchange on February 12, 2009. There was no amendment to the exercise price.

Pursuant to a Private Placement transaction previously disclosed in the Company’s August 31, 2007 news release, 1,000,000 warrants were issued bearing an expiry date of August 30, 2009 and an exercise price of $0.75 per share.

The Company is now seeking the approval of the TSX Venture Exchange to extend the expiry date of all unexercised warrants from these transactions to March 31, 2010.

Of the total combined 4,680,698 warrants originally granted pursuant to the above-noted transactions, 2,041,666 remain outstanding in conjunction with the Private Placement disclosed on February 27, 2007, 902,920 remain outstanding in conjunction with the Shares for Debt disclosed on February 27, 2007, and 1,000,000 remain outstanding in conjunction with the Private Placement disclosed on August 31, 2007. There will be 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.
DTaylor@Diamcormining.com

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.

WE SEEK SAFE HARBOUR

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