Diamond Frank Exploration Inc.

Diamond Frank Exploration Inc.

January 28, 2010 11:40 ET

Diamond Frank Options a Rare Earth Elements Property in Kipawa

LAVAL, QUEBEC--(Marketwire - Jan. 28, 2009) - Diamond Frank Exploration Inc. (TSX VENTURE:DOD) announces the conclusion of an option agreement to acquire 100% of the Blackrock property which is situated in one of North America's most well-known areas for heavy rare earth potential.

The property is composed of 18 claims (1062 hectares) located in the vicinity of the Villedieu townships.

The property is located in the Kipawa Basin within the Proterozoic Grenville Province. The basin is comprised of metamorphosed and folded sedimentary sequences that have been intruded by composite intrusive bodies. The most important intrusive rocks on the property are part of an alkaline intrusive complex which intersects strongly deformed and folded sedimentary host rock. This type of geological environment seems favorable for mineralizations containing rare earth.

David Mc Donald, President and CEO said, "This is an opportunity for Diamond Frank to take advantage of this very unique situation - the future demand prospects for heavy rare earth are promising and prices are still climbing in all usage sectors."

The terms of this agreement are:

1) To acquire 60%: (a) Pay the sum of $10,000 CAD and issue 250, 000 shares of Diamond Frank to the seller and (b) complete a minimum of $120,000 CAD worth of exploration work before June 30th, 2010;

2) To acquire the remaining 40%: (a) Pay the sum of $20,000 CAD and issue 250,000 shares of Diamond Frank to the seller before December 31st, 2010 and (b) complete a minimum of $175,000 CAD worth of exploration work before March 31st, 2011;

3) This agreement is subject to the approval of the regulatory authorities.

The fact that Diamond Frank's immediate neighbours are well-known companies such as Fieldex Exploration Inc., Globex Mining Enterprises, Matamec Exploration Inc. and Aurizon Mines shows that the Kipawa region offers the possibility of economic production.


It should be noted that in the January 4th, 2010 press release, the exercise price of the subscription warrants should have read as follows: $0.10 and not $0.075. Conditions remain the same.

Robert Gagnon (Geo.), Technical Advisor, a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.

The common shares of Diamond Frank Exploration are listed on the TSX Venture Exchange under the symbol "DOD".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Diamond Frank Exploration Inc.
    David Mc Donald
    President and CEO
    450-622-4337 (FAX)