BRC DiamondCore announces financing



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    TORONTO and JOHANNESBURG, South Africa, Aug. 21 /CNW/ - BRC DiamondCore
Ltd. (the "Company") (TSX - BCD; JSE - BCD) announces that it has engaged
Kingsdale Capital Markets Inc. (the "Agent") of Toronto, Canada to act as
agent to sell on a best efforts basis, by way of private placement, up to
3,000,000 common shares of the Company at a price of Cdn$1.00 per share for
gross proceeds of up to Cdn$3,000,000 (the "Financing"). The Company has
agreed to pay to the Agent a cash commission equal to 5% of the gross proceeds
of the Financing and to grant to the Agent that number of broker warrants
which is equal to 5% of the number of shares sold under the Financing, with
each such broker warrant entitling the holder to purchase one common share of
the Company at a price of Cdn$1.00 for a period of two years from closing.
    The net proceeds of the Financing will be used for general corporate
purposes. The closing of the Financing is subject to the receipt of all
required regulatory approvals, including the approval of the Toronto Stock
Exchange.
    The securities offered have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or any applicable exemption from the
registration requirements. This press release does not constitute an offer to
sell or the solicitation of an offer to buy nor will there be any sale of the
securities in any state in which such offer, solicitation or sale would be
unlawful.
    The Company raised Cdn$525,000, by way of the issue and sale of
350,000 common shares of the Company, pursuant to the non-brokered private
placement announced in the Company's June 30, 2008 press release.

    BRC DiamondCore Ltd. is an African-focused diamond explorer active in
South Africa and the Democratic Republic of the Congo (the "DRC"). Led by a
management team with extensive experience in diamond exploration and mine
development, the Company has a broad spectrum of projects ranging from
advanced stage trial mining operations through grass-roots exploration. The
Company's projects include both high-value carat alluvial gravels and primary
kimberlite targets. The Company works in a systematic and responsible manner
to discover, assess and develop diamond resources for the benefit of its
shareholders and local stakeholders.

    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 closing of the Financing and the anticipated
proceeds from the Financing) 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, the possibility that the
proceeds from the Financing will be less than anticipated due to market
conditions or other factors, 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 South Africa or the DRC, changes to regulations affecting the
Company's activities, uncertainties relating to the availability and costs of
financing needed in the future, 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.





For further information:

For further information: please visit our website,
www.brc-diamondcore.com, or contact: In Toronto: Martin D. Jones, Vice
President, Corporate Development, (416) 366-2221 or 1-800-714-7938; In
Johannesburg: James Duncan, Russell and Associates, +27 11 880-3924

Organization Profile

BRC DiamondCore Ltd.

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