Mr. Dean Taylor reports

DIAMCOR ISSUES BI-WEEKLY MCTO DEFAULT STATUS REPORT

Diamcor Mining Inc. is providing this biweekly default status report in accordance with National Policy 12-203 (Management Cease Trade Orders).

On July 29, 2022, the company announced that it had filed an application with the B.C. Securities Commission and the Alberta Securities Commission under NP 12-203, requesting that a temporary management cease trade order be granted in respect of the anticipated late filing of the company's audited financial statements and corresponding management's discussion and analysis for the year ended March 31, 2022. Due to continuing delays in South Africa related to Stage 6 load shedding (also known as rolling blackouts) last month by the state-owned electricity utility, Eskom, the company was unable to file annual filings on or before the prescribed filing deadline of July 29, 2022, as required by National Instrument 51-102 (Continuous Disclosure Obligations). The MCTO was granted Aug. 3, 2022.

The company confirms that since the date of the default notice: (i) there has been no material change to the information set out in the default notice that has not been generally disclosed; (ii) there has been no failure by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the company under NP 12-203; and (iv) there is no other material information concerning the affairs of the company that has not been generally disclosed.

The company confirms that its directors, officers and insiders cannot trade the company's securities until the annual filings have been made.

The company is working to provide the additional documentation to its auditor and to complete the audit of the financial statements for the year ended March 31, 2022. The company anticipates that it will be in a position to file its financial disclosure on or before Aug. 31, 2022. The company confirms that it will comply with the alternative information guidelines included in NP 12-203, for so long as it remains in default of a specified requirement.

About Diamcor Mining Inc.

Diamcor is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTCQB International under the symbol DMIFF. The company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

We seek Safe Harbor.