BRC Diamond completes combination with Diamond Core and trading to commence on the TSX

    TORONTO, Feb. 11 /CNW/ - BRC DiamondCore Ltd. (formerly named BRC Diamond
Corporation) (the "Company") (TSX - "BCD"; JSE - "BCD") is pleased to announce
that it completed today the acquisition of all of the outstanding shares of
Diamond Core Resources Limited ("Diamond Core"), thereby effecting the merger
of its business with Diamond Core's business.
    As the consideration for this acquisition, the Company issued to Diamond
Core shareholders one common share of the Company for every 24.5 Diamond Core
shares held (subject to the rounding of fractional shares), such that the
Company now has outstanding approximately 25.74 million shares and former
Diamond Core shareholders now hold approximately 47% of the Company's
outstanding shares. Concurrent with this transaction, the Company has changed
its name from BRC Diamond Corporation to BRC DiamondCore Ltd. and its shares
have been approved for listing on the Toronto Stock Exchange (the "TSX"). The
Company's shares are expected to commence trading on the TSX this morning
under the ticker "BCD" and will be delisted from the TSX Venture Exchange
concurrent with the TSX listing. The Company's shares began trading on the JSE
Limited in Johannesburg on February 4, 2008 and will continue to trade on the
JSE Limited under the new name under the ticker "BCD".
    Mike de Wit, President of the Company, said: "Although the merger of the
businesses has only become effective today, our teams have been working
together for several months and the activity level in the field has been
increasing through this period of corporate activity. We have made great
progress on prioritizing and mobilizing exploration teams to the earlier stage
projects, particularly in the Democratic Republic of the Congo, while trial
mining continues at the Silverstreams and Paardeberg projects in South Africa.
We look forward to providing ongoing positive results as our portfolio of
projects begins to shine through the first half of this year."
    Theo Botoulas, CEO of the Company, stated: "Mike and I are of a single
mind - that our skills can add the most value in the field, which is where we
have kept our focus. Fortunately, we have a great team alongside us and strong
advisors that delivered on creating this merged business that we are all
excited about. Integration of people is complete, systems and facilities are
coming together well, and the group is now in an excellent position to deliver
on our new vision as the growth-focused, African diamond company."

    BRC DiamondCore Ltd. is an African-focused diamond explorer active in
South Africa and the Democratic Republic of the Congo. 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
comprise both prospective alluvial gravels and primary kimberlite targets. In
all of its operations, the Company's ethos is to proactively work in a
responsible manner to discover, assess and, where feasible, develop diamond
resources for the benefit of its shareholders and local stakeholders. The
Company maintains listings on the TSX and the JSE, in each case under the
ticker "BCD".

    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
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, 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.

For further information:

For further information: please visit our website,, or contact: In Toronto: Arnold T. Kondrat, Director,
or Martin D. Jones, Vice President, Corporate Development, at (416) 366-2221
or 1-800-714-7938; In Johannesburg: James Duncan, Russell & Associates, at 27
11 880-3924

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BRC DiamondCore Ltd.

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