Diadem Resources Ltd.

Diadem Resources Ltd.

June 22, 2010 15:30 ET

Diadem Announces Agreements Relating to the Issuance of Shares for Debt

MONTREAL, QUEBEC--(Marketwire - June 22, 2010) - Diadem Resources Ltd. (TSX VENTURE:DRL) -

Diadem Resources Ltd. ("Diadem") announces that it has entered into settlement and shares-for-debt agreements (the "Agreements") with three (3) service providers (collectively, the "Service Providers") to settle an aggregate of $309,022.08 of historic trade payables.

Pursuant to the Agreements, and subject to approval from the TSX Venture Exchange ("Exchange"), Diadem proposes to issue 949,820 common shares (at deemed share prices between $0.20 - $0.25 per share) to the Service Providers in full and final settlement of the debt owed to the Service Providers. The debt is owed by Diadem to the Service Providers in respect of trade services previously performed by the Service Providers.

All securities issued pursuant to the service providers are subject to a minimum hold period of four (4) months and one day from the date of issuance.

Inclusive of the aforementioned issuances, Diadem would have issued and outstanding 39,349,014 common shares. On A fully-diluted basis, Diadem has 61,903,561 common shares outstanding, inclusive of the aforementioned issuances.

Additional information about Diadem Resources Ltd. may be found on its web page (www.diademresources.com) and under Diadem's profile on www.sedar.com.

Cautionary Statement

This press release may contain certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are various risks detailed from time to time in the filings made by the Company with securities regulators.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.

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