Mr. Dean Taylor reports

DIAMCOR AND TIFFANY & CO. CANADA SIGN AGREEMENT TO AMEND OUTSTANDING LOANS

Diamcor Mining Inc. and Tiffany & Co. Canada have entered into an agreement to amend the total balance of the outstanding loans between the companies. Under the terms of the agreement, Diamcor will pay Tiffany $2-million 90 days from signing of the agreement, followed by a second and final payment of $1,505,256 on the one-year anniversary of the initial payment, to retire all remaining principal and accrued interest associated with the outstanding loans. As a result of this agreement, the total current carrying balance currently recorded in the company's financials for these loans of $6,753,045 will be adjusted to reflect a new amount of $3,505,256 as outstanding for these loans.

About Diamcor Mining Inc.

Diamcor is a fully reporting publicly traded Canadian diamond mining company with a well-established proven history in the mining, exploration and sale of rough diamonds. The company's primary focus is on the mining and development of its Krone-Endora at Venetia project, which is co-located and directly adjacent to De Beers' Venetia diamond mine in South Africa. The Venetia diamond mine is recognized as one of the world's top diamond-producing mines, and the deposits which occur on Krone-Endora 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.

Diamcor also focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential, and uses unique approaches to mining that involve the use of advanced technology and techniques to extract diamonds in a safe, efficient and environmentally responsible manner. The company has a strong commitment to social responsibility, including the support of local people, communities and the environment.

Qualified person statement

James P. Hawkins (BSc, PGeo) is manager of exploration and special projects for Diamcor, 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. Mr. Hawkins has reviewed this press release and approved of its contents.

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