BRC DiamondCore: Third Tender Sale Realises US$2.5 million

    77.34 Carat Silverstreams Diamond Sells for US$904,724;
    13.65 Carat Silverstreams Diamond Sells for US$518,180

    TORONTO and JOHANNESBURG, South Africa, June 3 /CNW/ - BRC DiamondCore
Ltd. (the "Company") (TSX - BCD; JSE - BCD) is pleased to announce the results
of its third tender sale for diamonds from its Paardeberg East kimberlite and
Silverstreams alluvial trial mining projects in South Africa's Northern Cape


    -   1,909.19 carats in total were sold for US$2,492,715.
    -   A 77.34 carat stone recovered from a Silverstreams high terrace
        channel trench, where bulk sampling has been under way for the last
        month, was sold for US$904,724 or US$11,698 per carat.
    -   The recovery of the 77.34 carat stone reinforces the size frequency
        distribution plots of the diamond population recorded by the Company
        for the various sampling trenches; indicates a plot typical of a
        Middle Orange deposit; and confirms the presence of large diamonds in
        the distribution.
    -   A 13.65 carat stone recovered at Silverstreams sold for US$518,180 or
        US$37,962 per carat.
    -   The tender demonstrated continued strong average value (US$390.90 per
        carat) for the product from the PK5 kimberlite at Paardeberg East,
        where further geophysical work and delineation drilling is being
    -   As a result of the exploration results at Silverstreams, the
        metallurgical capacity will be increased by 50%, to deliver an
        expected proportional increase in production.
    -   A 57% increase to US$2,511.19 per carat has been realized in the
        average value for all diamond product at Silverstreams since
        inception of sampling.
    -   The average value for all diamonds recovered from Paardeberg East PK
        5 since inception of sampling is US$381.06 per carat.

    The diamond analysis data, independent diamond valuations and price
received for the tender will be used to underpin the economic metrics of both
    The services of an independent diamond consultant, Mr. Ramon Ferraris of
QTS-Kristal Dinamika, are retained to audit the bulk sampling plants, bulk
sampling process and diamond analysis of both projects. The tender diamonds
were prepared and overseen by Mr. Ferraris and an additional independent
technical diamond consultant to the Company, Mr. Maurice Barker.
    Commenting on the prices received on the third tender, Company CEO Theo
Botoulas said: "The average prices achieved per carat for the entire run of
mine production for both Paardeberg East and Silverstreams of US$390.90 per
carat and US$6,065.89 per carat respectively are most encouraging.
    "As a result of increased geological and grade confidence delivered by
the systematic sampling program at Silverstreams, as well as access to
adequate Eskom power, we will implement the first phase of doubling capacity.
The capacity of the rotary pan plant section will be increased by 50% with the
addition of two 16 ft rotary pans. Production is expected to increase
proportionally as the Silverstreams project gears up."
    Photographs of diamonds referred to in this press release, and additional
diamonds recovered at Paardeberg East and Silverstreams, can be viewed on the
Company's website at


                           TOTAL             AVG. SIZE      TOTAL      VALUE
                          WEIGHT     STONES      (CTS.      VALUE   (US$ PER
    SITE                 (CARATS)   (NUMBER)  PER STN.)      (US$)     CARAT)
    SILVERSTREAMS         307.74        102       3.02  1,866,716   6,065.89

    The diamond analysis of the product from various trenches on the
Silverstreams bulk sampling site was undertaken by the independent consultants
on an ongoing basis. The sample size comprised 102 stones. The size frequency
distribution of the diamond population recovered from the various sampling
trenches indicates a plot typical of a Middle Orange River deposit, which is
characterized by the recovery of large diamonds.
    In previous reports, the independent consultants predicted the recovery
of a 40+ carat stone, based on the size frequency interval analysis and size
forecasting. The Company is pleased to announce the recovery of a 77.34 carat
unbroken stone. Accordingly, there has been a significant increase in the
average dollar per carat value of the Silverstreams deposit to US$2,511.19 per
    Using the prices achieved for the Silverstreams product on the open
tender, the Silverstreams run of mine production for the tender is valued at
US$6,065.89 per carat. Of note, the 77.34 carat stone equals 25.1% of the
weight and 48.5% of the value of the parcel. This stone sold for US$11,698 per

    Other special stones (+10.8 cts) included:
    -   13.65 carat - D Colour dodecahedron, which sold for
        US$37,962 per carat.
    -   11.96 carat - Fancy Yellow dodecahedron, which sold for
        US$11,202 per carat.
    -   16.56 carat - Off White octahedron/dodecahedron, which sold for
        US$7,059 per carat.

    The Company confirms that the full run of mine product is represented in
this tender and no diamonds were removed for beneficiation or other purposes.


                           TOTAL             AVG. SIZE      TOTAL      VALUE
                          WEIGHT     STONES      (CTS.      VALUE   (US$ PER
    SITE                 (CARATS)   (NUMBER)  PER STN.)      (US$)     CARAT)
    EAST - PK5          1,601.45      4,302       0.37    625,999     390.90

    The ongoing diamond analysis of the various PK5 samples, representing
distinct kimberlite facies, continued to be undertaken by independent
consultants. The PK5 size frequency distribution for the samples in this
tender plotted is similar to the last samples, indicating the continuous
nature of the ore body. However, the average stone size has increased slightly
to 0.37 carats per stone from 0.35 carats per stone for previous samples. The
forecasting plots indicate that PK5 has the potential of recovering special
stones (+10.8 cts). This has been reinforced by the recovery of an 18.36 carat
stone. The stone sold for US$7,307 per carat.
    The quality of diamonds produced from the PK5 samples has been
exceptional, as indicated by the high average value achieved of US$390.90 per
carat. Besides the 18.36 carat stone, three other high value stones greater
than 5 carats were sold:

    -   9.11 carat - White irregular dodecahedron, which sold for
        US$11,618 per carat.
    -   7.15 - Light Yellow dodecahedron, which sold for US$3,349 per carat.
    -   5.34 carat - White dodecahedron, which sold for US$2,505 per carat.

    The Company confirms that the full run of mine product is represented in
this tender and no diamonds were removed for beneficiation or other purposes.

    Kimberley Process: Chain of custody and diamond control

    Mr. Ferraris, working in conjunction with Company security officials, was
mandated to design and develop a chain of custody process and an effective
diamond control process for Company diamond production. This process has been
constructed in a manner that complies with international best practices and
the requirements of the Kimberley Process. Mr. Ferraris is responsible for
auditing this process as well as for providing technical expertise with
regards to the diamond product. Mr. Ferraris has 30 years' experience in the
rough diamond industry, including working for both De Beers and RTZ.
    The Company maintains an inventory of diamond product from its operations
which are sold as the diamond analysis per sample is concluded. Technical data
with respect to the diamond populations per deposit has been recorded and
analysed by independent diamond consultants.
    Additional information with respect to the Paardeburg East and
Silverstreams projects is contained in the technical report prepared by Venmyn
Rand (Pty) Limited, dated July 31, 2007 and entitled "National Instrument
43-101 Technical Report Prepared on the Mineral Assets of Diamond Core
Resources Limited in the Northern Cape and Free State Provinces, South
Africa." A copy of this report can be obtained from SEDAR at

    Qualified Person

    Dr. Mike de Wit, President of the Company, is the "qualified person" (as
such term is defined in National Instrument 43-101) who supervised the
preparation of and is responsible for the technical information in this press
    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 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.

    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
diamond prices, future diamond recoveries and sales, future production,
exploration results, potential mineralization and the Company's plans with
respect to the exploration and development of its properties) 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 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,
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: 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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