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Diamonds North Completes Banks Island Acquisition
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VANCOUVER, July 20, 2007 - Diamonds North Resources Ltd. (TSX-V: DDN)
reports the Company has received acceptance from the TSX Venture
Exchange for the Banks Island Purchase Agreement. Pursuant to the
Purchase Agreement (see News Release NR07-15, July 5th, 2007), the
Company has issued 1,000,000 common shares of Diamonds North to
Majescor Resources Inc. to acquire Majescor's 50% interest in the Banks
Island project. The securities are subject to a hold period and may not
be traded until November 21, 2007.
Diamonds North now holds a 100% interest in the 1.1 million acre Banks
Island project and the Company is eager to advance this project.
The Banks Island project is located on the northeast corner of Banks
Island in the Northwest Territories. Sampling programs have recovered
kimberlite indicator minerals with compelling mineral chemistry similar
to the Ekati and Diavik diamond mines. A geophysical survey over only
10 % of the project has already identified 65 targets, including a 12
to 14 hectare target.
Bruce Kienlen (P.Geol) is Diamonds North's qualified persons reviewing
this project and is responsible for the design and conduct of the
exploration program and the verification and quality assurance of
analytical results.
Diamonds North Resources is focused on discovering Canada's next
diamond mine. The Company is rapidly evolving and committed to building
long-term value through ongoing diamond discoveries.
On behalf of Diamonds North Resources Ltd.
Mark Kolebaba
President & CEO
For additional information please contact:
Nancy Curry
VP Corporate Communications
Diamonds North Resources Ltd.
Telephone: (604) 689-2010
Facsimile: (604) 484-7143
Email: info@diamondsnorth.com
Website: www.diamondsnorth.com
For additional information please contact:
Nancy Curry
VP Corporate Communications
Diamonds North Resources Ltd.
Telephone: (604) 689-2010
Facsimile: (604) 484-7143
Email: info@diamondsnorth.com
Website: www.diamondsnorth.com
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Copyright (c) 2007 DIAMONDS NORTH RESOURCES LTD. (DDN) All rights
reserved. For more information visit our website at
http://www.diamondsnorth.com/ or send mailto:info@diamondsnorth.com
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