BRC DiamondCore reports second quarter 2008 results

    TORONTO, Aug. 15 /CNW/ - BRC DiamondCore Ltd. (the "Company") (TSX -
"BCD"; JSE - "BCD") reported a net loss of $1,193,000, or $0.05 per share, for
the three month period ended June 30, 2008 and a net loss of $4,631,000, or
$0.20 per share, for the six month period ended June 30, 2008. The most
significant item affecting the said six month results is an unrealized foreign
exchange loss in the amount of $2,794,000 recorded in the first quarter of
    Net revenue of $4,369,000 for the six months ended June 30, 2008 achieved
from the sale of diamonds recovered from the bulk sampling operations in South
Africa has been applied to reduce the overall deferred exploration expenditure
recorded in respect of the Company's operations. Taking this into account,
deferred exploration expenditure recorded for the first six months of 2008
amounted to $3,954,000 (included in this amount was depreciation of
    The Company's unaudited interim consolidated financial statements as at
and for the three and six month periods ended June 30, 2008 and the related
management's discussion and analysis have been filed on SEDAR at
    The Company 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. 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.

For further information:

For further information: please visit our website at, or contact: In Toronto: 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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