DITEM EXPLORATIONS INC.
TSX VENTURE : DIT
FRANKFURT : D8X

DITEM EXPLORATIONS INC.

January 29, 2007 14:43 ET

Ditem Announces Closing of $2,750,000 Private Placement

MONTREAL, QUEBEC--(CCNMatthews - Jan. 29, 2007) - Ditem Explorations (TSX VENTURE:DIT) is pleased to announce that on Friday the 26th of January 2007, it has closed the private placement financing disclosed on January 25th 2007, resulting in gross proceeds of $2,750,000.

Accordingly, the company has issued an aggregate of 4,230,769 Units at a price of $0.65 per Unit for gross proceeds of approximately $2,750,000. Each Unit is comprised of one common share and one-half of one common share purchase warrant, each of which full warrant is exercisable at a price of $0.75 for 24 months from date of closing.

The offering was made to accredited investors, within the meaning of National Instrument 45-106, in the Provinces of British Columbia, Alberta, Ontario and Quebec and is subject to the receipt of all the required regulatory approvals, including the approval of the TSX Venture Exchange. All the securities issued pursuant to the offering are subject to a hold period of four months from date of closing. A commission equal to 8% of the gross proceeds, as well as broker unit warrants equal to 10% of issued units at $0.75, was paid by the Corporation to Bearbeech Capital Partners Corporation.

The proceeds from the private placement will be used by Ditem for exploration primarily on the Otish Mountain Property in Quebec, the Beartooth Island Project in the Athabasca Basin of Saskatchewan and the Cree Lake Property also in the Athabasca Basin of Saskatchewan, as well as for general working capital.

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

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