Diamcor announces amendment to warrant expiry dates


    TSX.V Symbol (DMI)

    KELOWNA, BC, Feb. 4 /CNW/ - Diamcor Mining Inc. (TSX-V:DMI) (the
"Company"), reports that its Board of Directors has authorized an amendment to
the expiry date of warrants associated with the Private Placement and Shares
for Debt transactions previously announced on February 27, 2007. The original
transactions included the granting of 2,777,778 warrants issued in connection
with the Private Placement that were to expire on February 8, 2009, and
902,920 warrants issued in connection with the Shares for Debt that were to
expire on February 28, 2009. Subject to the final approval of the TSX Venture
Exchange, all unexercised warrants from those transactions will have an
amended expiry date of August 30, 2009. Of the total combined 3,680,698
warrants granted, 2,041,666 remain outstanding in conjunction with the Private
Placement, and 902,920 remain outstanding in conjunction with the Shares for
Debt. Each warrant originally entitled the holder to acquire one common share
at an exercise price of $0.27 each, and there has been 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.

    Phone:    (250) 864-3326
    Website:  www.diamcormining.com

    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:

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