BRC Diamond Corporation begins trading on JSE as prelude to merger with Diamond Core Resources



    TORONTO, Feb. 4 /CNW/ - BRC Diamond Corporation ("BRC" or the "Company")
(TSX.V - "BRC"; JSE - "BCD") is pleased to announce that its common shares
have been listed on the JSE Limited ("JSE") in Johannesburg and that trading
of such shares on the JSE commenced today, February 4, 2008, under the trading
symbol "BCD".
    This listing precedes the pending merger of the businesses of BRC and
Diamond Core Resources Limited ("Diamond Core"). As previously disclosed, this
merger is being implemented by way of a court-sanctioned scheme of arrangement
(the "Scheme") between Diamond Core and its shareholders under the provisions
of applicable South African corporate law, pursuant to which BRC will acquire
all of the outstanding shares of Diamond Core in exchange for the issuance of
BRC shares. The Scheme received overwhelming support from Diamond Core's
shareholders. The transaction is expected to be completed on February 11, 2008
and, in connection with such completion, the Company's name will be changed to
BRC DiamondCore Ltd. Trading on the JSE under this new name will continue
under the symbol "BCD".
    As part of the transaction, BRC has applied, and received conditional
approval, for the listing of its shares on the Toronto Stock Exchange ("TSX").
Such listing is subject to certain conditions, including that the Diamond Core
transaction be completed. It is expected that trading of such shares on the
TSX under the new name of BRC DiamondCore Ltd. will begin on or about
February 11, 2008, also under the symbol "BCD".
    Dr. Mike de Wit, President and C.E.O. of BRC, commented: "This is a very
exciting day for all stakeholders, with the listing of BRC on the JSE being
the final step preceding the merger of the businesses of BRC and Diamond Core.
The combined business, which builds on the natural synergies of both
companies, will bring together Diamond Core's strong engineering capabilities
and advanced development projects in South Africa, with BRC's geological
expertise and substantial portfolio of highly prospective projects in the most
prominent diamond districts of the Democratic Republic of the Congo."
    "With listings on two major stock exchanges and a leadership team with a
proven track record in diamond exploration, development and operations, BRC
DiamondCore Ltd. will be in a unique position to grow organically and through
acquisition."
    For more information on the transaction, please see the press releases
dated July 5, 2007, August 2, 2007, September 7, 2007, October 30, 2007 and
December 14, 2007, copies of which are available on SEDAR at www.sedar.com.

    Cautionary Note Regarding Forward-Looking Statements
    ----------------------------------------------------
    This press release contains forward-looking statements. All statements,
other than statements of historical fact, that address activities, events or
developments that the Company believes, expects or anticipates will or may
occur in the future (including, without limitation, statements relating to the
completion of the transaction with Diamond Core and future objectives and
plans of the Company) are forward-looking statements. These forward-looking
statements reflect the current expectations or beliefs of the Company based on
information currently available to the Company. Forward-looking statements are
subject to a number of risks and uncertainties that may cause the actual
results of the Company to differ materially from those discussed in the
forward-looking statements, and even if such actual results are realized or
substantially realized, there can be no assurance that they will have the
expected consequences to, or effects on the Company. Factors that could cause
actual results or events to differ materially from current expectations
include, among other things, failure to complete the transaction with Diamond
Core, the possibility that future exploration results will not be consistent
with the Company's expectations, changes in equity markets, changes in diamond
markets, foreign currency fluctuations, political developments in the
Democratic Republic of the Congo or South Africa, changes to regulations
affecting the Company's activities, uncertainties relating to the availability
and costs of financing needed in the future, delays in obtaining or failure to
obtain required project approvals, the uncertainties involved in interpreting
geological data and the other risks involved in the diamond exploration
business. Any forward-looking statement speaks only as of the date on which it
is made and, except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or results or
otherwise. Although the Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this press release.




For further information:

For further information: Dr. Mike de Wit, President and C.E.O., Arnold
T. Kondrat, Executive Vice President, or Martin D. Jones, Vice President,
Corporate Development, at (416) 366-2221 or 1-800-714-7938

Organization Profile

BRC DiamondCore Ltd.

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