Diadem Resources Ltd.
TSX VENTURE : DRL

Diadem Resources Ltd.

March 30, 2010 17:36 ET

Diadem Announces Equity Financing to Raise Up to $750,000

MONTREAL, QUEBEC--(Marketwire - March 30, 2010) - Diadem Resources Ltd. (TSX VENTURE:DRL) -

Diadem Resources Ltd. ("Diadem" or the "Company") announces today that, subject to TSXV approval, it is proceeding with its intention to effect a brokered private placement of up to 15,000,000 Units at $0.05 per Unit to raise up to $750,000 of equity financing and is expected to close on or about April 16, 2010.

Each Unit will be comprised of one (1) Common Share of the Company and one (1) common share purchase warrant ("Warrant"), each Warrant being exercisable to acquire one (1) Common Share of the Company at an exercise price of $0.10 within the first year of Closing and $0.20 within the second year of Closing.

The Company welcomes solicitations from licensed brokers to participate in the placement. Upon acceptance of any such solicitations, the Company will pay the subject broker a cash commission to be negotiated on a case-by-case basis but not to exceed 8% of the purchase price of the Units placed by such broker and an Agent's Option providing for the purchase of up to 4% of the Units placed by such broker at the exercise price of $0.10 within the first year of Closing and $0.20 within the second year of Closing.

All securities issued pursuant to this private placement (including those issued to brokers) will be subject to a minimum hold period of four (4) months from the date of issuance.

The Company currently has 27,944,647 outstanding common shares. Assuming full take-up of this private placement there will be an additional 15,000,000 common shares outstanding (being an aggregate of 42,944,647 common shares) and, on a fully-diluted basis and after giving effect to the exercise of all outstanding share purchase warrants (including those proposed to be issued pursuant to this private placement) and incentive stock options granted under its stock option plan the Company anticipates it would have 68,434,647 common shares outstanding.

The gross proceeds of the placement will be used for working capital purposes.

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

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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