Sanatana Diamonds Inc Announces Pricing for Private Placement by 24hgold

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Sanatana Diamonds Inc.
TSX VENTURE:	STA
AIM:	SAN

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January 22, 2008
Sanatana Announces Pricing for Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 22, 2008) - NOT FOR DISEMMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES Sanatana Diamonds Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) (AIM:SAN) is pleased to announce that the pricing for the private placement previously announced on January 14, 2008 will be $1.35 per Unit and $1.55 per Flow-Through Share. A syndicate of agents led by Genuity Capital Markets and including J.F. Mackie & Company Ltd., Haywood Securities Inc. and Raymond James Ltd. (the "Agents") will act as agents for the private placement on a marketed reasonable best efforts agency basis, to raise between $9,000,000 to $10,000,000. The offering will consist of units ("Units", consisting of one common share and one-half of an 18-month common share purchase warrant) and flow-through common shares ("Flow-Through Shares") of the Company. The exercise price of the warrants forming part of the Units will be $1.65. The Units and Flow-Through Shares will be offered and sold by way of private placement exemptions in all provinces and jurisdictions of Canada mutually agreed to by the Company and the Agents, into the United States via Rule 144A or in such other manner as not to require registration under the United States Securities Act of 1933, as amended and in jurisdictions outside of Canada and the US. The offering is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the acceptance of the TSX Venture Exchange. Sanatana will use the gross proceeds from the sale of the Flow-Through Shares to incur Canadian Exploration Expenses for the purposes of the Income Tax Act (Canada) and such Canadian Exploration Expenses will be renounced with an effective date of no later than December 31, 2008. The net proceeds from the private placement will be used to fund exploration on the Company's Mackenzie Diamond Project in the Northwest Territories, working capital and general corporate purposes. The private placement is expected to close on or before February 5, 2008. The Agents will be granted an option to purchase additional Units and Flow-Through Shares to cover over-allotments, if any, on the same terms and conditions as the securities issued under the offering, provided that the total offering size is not greater than $10 million. All securities issues in connection with the private placement will be subject to a four-month hold period. The Agents will receive a cash commission of 7.0% of the gross proceeds raised in this private placement and compensation warrants (the "Compensation Warrants") entitling the Agents to purchase such number of common shares as is equal to 7.0% of the aggregate number of Units and Flow-Through Shares sold pursuant to the private placement. Each Compensation Warrant will entitle the Agents to purchase one common share of the Company at an exercise price of $1.35 for a period of 12 months following the closing. The securities being offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States in the absence of registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to purchase securities in the United States. Forward Looking Statements Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control, and may include statements regarding resource estimates, potential mineralization, exploration results, completion or continuation of work programs and studies, and future plans and objectives. Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources, but from finding mineral deposits that though present, are insufficient in quantity and quality to be economic or to return a profit from production. There can be no assurance that such statements and information will prove to be accurate and actual results could differ materially from those suggested by any forward-looking statements and information. Sanatana disclaims any obligation to update or revise such forward looking statements and information except as required by law. NEITHER THE AIM MARKET OF THE LONDON STOCK EXCHANGE PLC NOR THE TSX VENTURE EXCHANGE HAS REVIEWED, NOR ACCEPTS RESPONSIBILITY FOR, THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CONTACT INFORMATION:

Sanatana Diamonds Inc.
Mr. Peter Miles
President and Chief Executive Officer
(604) 408-6680
Email: investor@sanatanadiamonds.com
Website: www.sanatanadiamonds.com

or

Seymour Pierce Limited (Nominated Adviser):
David Newton
+44 (0) 20 7107 8000
Email: davidnewton@seymourpierce.com

INDUSTRY: Manufacturing and Production - Mining and Metals

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