BRC Diamond closes financing

    TORONTO, March 29 /CNW/ - BRC Diamond Corporation (the "Company" or
"BRC") (TSX-V - "BRC") announces that it has completed its previously
announced non-brokered financing (the "Financing"). The Company has issued, by
way of private placement, 1,000,000 common shares of the Company at a price of
Cdn$5.00 per share resulting in aggregate gross proceeds to the Company of
 Cdn$5,000,000. The proceeds from the Financing will be added to the Company's
working capital.
    The said shares issued by the Company under the Financing are subject to
a four month "hold period" and the resale rules of applicable securities
    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 or other jurisdiction in which such offer,
solicitation or sale would be unlawful.

    BRC is a Canadian-based diamond exploration company active principally in
the Democratic Republic of the Congo (the "DRC"). Led by a management team
with extensive experience in the DRC, the Company is active in some of the
most prospective diamond regions of the country. Banro Corporation, the
Company's largest shareholder with approximately a 28% interest in BRC, is a
mineral exploration company focused on the DRC.

    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 regarding
future 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, changes in equity markets,
political developments in 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
exploration results and the other risks involved in the mineral 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: Arnold T. Kondrat, Executive Vice President, or
Martin D. Jones, Vice President, Corporate Development, at (416) 366-2221

Organization Profile

BRC DiamondCore Ltd.

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