Diamonds North Resources Ltd.
TSX VENTURE : DDN

Diamonds North Resources Ltd.

October 31, 2007 17:06 ET

Diamonds North Resources Ltd.: New Nunavut Nickel Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2007) - Diamonds North Resources Ltd. (TSX VENTURE:DDN) announces the discovery of high-grade nickel in outcrop on its 100% owned Amaruk property in Nunavut.

Grab samples from a highly oxidized, sulfide rich zone within suspected gabbro yielded high nickel values with associated copper and cobalt. Sample 1 yielded 1.36% nickel, 0.21% copper and 0.07% cobalt. Assays from five samples collected from the location are listed below.

The sulfide mineralized outcrop is approximately 20 to 30 metres wide and slopes gently into an extensive low lying area with no outcrop exposure. Associated with this location is a 700 to 1500 metre-long magnetic anomaly with estimated widths ranging from 20 to 65 metres. Other similar anomalies and oxidized sulfide zones exist in the area.



Sample Assays
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Nickel Copper Cobalt
Sample % % %
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1 1.36 0.21 0.07
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2 0.92 0.25 0.05
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3 0.63 0.28 0.02
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4 0.50 0.24 0.04
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5 0.35 0.14 0.02
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"Having explored for nickel for more than 20 years, these results are significant and highly encouraging. If other nearby anomalies or gossans also return anomalous nickel values, we may well have discovered a new nickel district in Canada," says Bernard Kahlert, Director of Diamonds North.

Sulfides were observed in the outcrop samples. Due to strong oxidization and leaching, some metal loss is likely. Hand specimens are moderately to strongly magnetic.

The Company is planning a detailed EM survey over the area to better define drill targets.

B. Kahlert (P. Eng.) is Diamonds North's qualified person reviewing the data for this project. Mr. Kahlert has been associated with several nickel discoveries including Forrestania and Maggie Hays Hill in Australia.

All samples were analyzed at ALS Chemex (ALS Laboratory Group-Mineral Division) in North Vancouver, BC. ALS Chemex is accredited by the QMI Quality Registrars to ISO 9001:2000, and by the Standards Council of Canada to ISO 17025. A standard aqua-regia digestion and ICP-AES package was used on all samples. Ore grade assays were analyzed by AA.

Diamonds North Resources is rapidly evolving and committed to building long-term value for shareholder through ongoing discoveries and leveraging business opportunities from its vast land holdings.

On behalf of Diamonds North Resources Ltd.

Mark Kolebaba, President and CEO

Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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

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