Diamcor announces amendment to warrant expiry dates



    
    /THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES, TO
    "U.S. PERSONS" OR TO UNITED STATES OF AMERICA NEWS SERVICES/

    TSX.V Symbol (DMI)
    

    KELOWNA, BC, Aug. 24 /CNW/ - Diamcor Mining Inc. (TSX-V:DMI) (the
"Company"), reports that its Board of Directors has authorized an amendment to
the expiry date of the warrants associated with previous Private Placement and
Shares for Debt transactions.
    Pursuant to a Private Placement and Shares for Debt transaction, both
previously disclosed in the Company's February 27, 2007 news release, an
aggregate 2,777,778 warrants were issued bearing an original expiry date of
February 8, 2009 and an exercise price of $0.27 per share and an aggregate
902,920 warrants were issued bearing an original expiry date of February 28,
2009 and an exercise price of $0.27 per share. On February 4, 2009, the
Company issued a news release announcing the extension to the expiry date of
these warrants to August 30, 2009, and the extension was approved by the TSX
Venture Exchange on February 12, 2009. There was no amendment to the exercise
price.
    Pursuant to a Private Placement transaction previously disclosed in the
Company's August 31, 2007 news release, 1,000,000 warrants were issued bearing
an expiry date of August 30, 2009 and an exercise price of $0.75 per share.
    The Company is now seeking the approval of the TSX Venture Exchange to
extend the expiry date of all unexercised warrants from these transactions to
March 31, 2010.
    Of the total combined 4,680,698 warrants originally granted pursuant to
the above-noted transactions, 2,041,666 remain outstanding in conjunction with
the Private Placement disclosed on February 27, 2007, 902,920 remain
outstanding in conjunction with the Shares for Debt disclosed on February 27,
2007, and 1,000,000 remain outstanding in conjunction with the Private
Placement disclosed on August 31, 2007. There will be no amendment to the
exercise price of any of the associated warrants.

    Diamcor Mining is a junior resource company with established operations
and production history in South Africa. The Company is determined to use this
established operating history and industry knowledge to increase its current
production of diamonds through the development and or, acquisition of
additional quality properties in the region.

    
    On behalf of the Board of Directors

    Mr. Dean H. Taylor
    President & CEO
    Diamcor Mining Inc.
    

    This press release contains certain forward-looking statements. While
these forward-looking statements represent our best current judgement, they
are subject to a variety of risks and uncertainties that are beyond the
Company's ability to control or predict and which could cause actual events or
results to differ materially from those anticipated in such forward-looking
statements. Further, the Company expressly disclaims any obligation to update
any forward looking statements. Accordingly, readers should not place undue
reliance on forward-looking statements. This news release is not for
dissemination in the United States, to "U.S. Persons" or to United States of
America news services.

    
                             WE SEEK SAFE HARBOUR

        The TSX Venture Exchange has not reviewed and does not accept
      responsibility for the adequacy or, the accuracy of this release.
    





For further information:

For further information: Mr. Dean H. Taylor, President & CEO, Diamcor
Mining Inc., DTaylor@Diamcormining.com, Phone: (250) 864-3326, Website:
www.diamcormining.com


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