Diamondex Resources Ltd.

Diamondex Resources Ltd.

November 08, 2007 09:30 ET

Diamondex Resources Ltd.: Weiland Project Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - Diamondex Resources Ltd. (TSX VENTURE:DSP) ("Diamondex") is pleased to announce that the Weiland Joint Venture has approved a $1.8 Million 2008 winter exploration program which will include ground geophysical surveying, the drill testing of 40 high priority magnetic targets and the acquisition of 3,600 line kilometres of low-level high-resolution airborne magnetic data (see www.diamondex.net for project location and details).

The Weiland Project is located in the Kyle Lake kimberlite cluster area of the James Bay Lowlands of Northern Ontario, approximately 120 kilometres west of De Beers' Victor pipe and in the vicinity of the Noront Resources nickel-copper-PGM massive sulphide discovery. The property is held under a 40:60 joint venture with De Beers Canada Inc. with Diamondex as Operator. De Beers has elected not to participate in this upcoming winter program and its joint venture interest will be diluted accordingly.

The interpretation of 56,500 line kilometres of low-level high-resolution airborne magnetic surveys previously flown by the joint venture on 100 metre-spaced lines resulted in the staking of 98 claims covering 100 magnetic anomalies.

Two proprietary light-weight reverse circulation drills have been contracted to drill test the 40 magnetic targets and preparations for the upcoming winter ground geophysical program are underway. It is anticipated that the 2008 winter program will commence in mid-February.

Mr. Raymond Ashley, P.Geoph. Vice President of Exploration for Diamondex is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this press release.


Randy C. Turner, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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