Mr. Dean Taylor reports

RETIRED TIFFANY & CO. EXECUTIVE MR. D. WAYNE HOWARD JOINS DIAMCOR BOARD OF DIRECTORS

Recently retired Tiffany & Co. executive, D. Wayne Howard, has joined Diamcor Mining Inc.'s board as an independent director.

"I am very pleased to announce the addition of Mr. Howard to our company's board as an independent director," noted Diamcor's chief executive officer, Dean Taylor. "Having collaborated with Wayne at Tiffany & Co. over the years on the current and future direction of the diamond industry, and the growing complexities of securing supplies of non-conflict natural rough diamonds, I could not think of a better person to assist our company at a time when our desire is to grow our business and position ourselves as a key additional source of rough diamonds to reputable diamantaires and luxury retailers," added Mr. Taylor.

"I look forward to working with Mr. Taylor, and to providing him with the insight, experience and knowledge I have gained over the years to successfully grow businesses into larger entities," commented Mr. Howard. "Dean and I share many of the same visions on the past, present and future direction of the diamond industry, and we both believe that the opportunity exists to now position Diamcor for the future."

Mr. Howard is a leadership expert and results-oriented executive with a creative, entrepreneurial approach to business issues and extensive experience as an international board member, with global experience with several New York Stock Exchange-listed companies. He has a demonstrated ability to improve profitability for companies by developing new strategies for growing revenues, reducing costs and improving operations. Mr. Howard has held various senior executive positions over his extensive career, including vice-president, finance, executive vice-president, global operations, director of marketing and sales, and business owner. Mr. Howard has extensive knowledge of the diamond industry and well-established relationships with key industry players. Most recently and prior to his recent retirement, Mr. Howard held various executive-level positions at Tiffany & Co., including divisional vice-president, diamond supply -- operations officer, divisional vice-president, jewellery supply -- operations officer, and vice-president of manufacturing. He is also currently managing director for New York-based Peale Davies, an independent advisory firm that provides strategic and financial advice on acquisitions, private capital solutions, restructurings, mergers and acquisitions, and growth initiatives. His extensive career has also included positions as vice-president of sourcing and logistics with Cerberus Capital Management Portfolio Company, profit improvement consultant with DWH Solutions, as well as executive vice-president of global operations for New York-based International Flavors & Fragrances where he successfully improved return on invested capital, lowered costs and successfully integrated the operations of a $1-billion acquisition. He has also served as vice-president of other NYSE-listed companies including luxury retailer Nordstrom, and Unilever-Lipton. Mr. Howard has an honours degree in business administration from Ivey Business School at Western University and has completed PMD at Harvard Business School.

Diamcor has agreed to grant Mr. Howard options to purchase three million shares to be priced at 10 cents per share. The options will vest in accordance with the TSX Venture Exchange vesting requirements. All options will expire five years from the date of issue, and all options exercised will be subject to the required hold periods pursuant to applicable securities laws and TSX Venture Exchange policies.

About Diamcor Mining Inc.

Diamcor Mining is a fully reporting publicly traded diamond mining company with a proven history, which is focused on building a growing supply of ethically sourced, non-conflict, natural rough diamonds to some of the world's most reputable diamantaires and luxury retailers. The company has a long-term strategic alliance with world-famous Tiffany & Co., and currently, its primary focus is on the development of its Krone-Endora at Venetia project, which is co-located and directly related to De Beers' flagship Venetia diamond mine in South Africa. The Venetia diamond mine is long recognized as one of the world's top diamond-producing mines, and the deposits which occur on the company's Krone-Endora project have been identified as being the result of shift and subsequent erosion of an estimated 50 million tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The company is also focused on the acquisition and development of additional mid-tier projects with near-term production capabilities to allow the company to position itself as a growing supplier of ethically and responsibly mined non-conflict natural rough diamonds to reputable diamantaires and select luxury retailers. The company has a strong commitment to junior mining, social responsibility, women in mining, supporting local communities and to protecting the environment.

Qualified person statement

James P. Hawkins (BSc, PGeo) is manager of exploration and special projects for Diamcor Mining, and the qualified person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor's exploration programs and a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA). Mr. Hawkins has reviewed this press release and approved of its contents.

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