SOURCE: Dolat Ventures, Inc.

April 15, 2010 11:36 ET

Dolat Ventures Inc. Acquires Majority Stake in Diamond Producer Millennium Mining LLC of Sierra Leone

Millennium Mining in Full Scale Diamond Production Since 2008

NEW YORK, NY--(Marketwire - April 15, 2010) -  Dolat Ventures Inc. (OTCBB: DOLV) announced today that it has acquired a majority stake in Millennium Mining LLC of Sierra Leone. Dolat is acquiring 75% of the common and outstanding stock of the diamond producer in return for thirty million (30,000,000) common shares in a share exchange agreement.

"We are very excited about the acquisition," announced Mr. Dovid Hauck, President of Dolat Ventures. "This purchase enables the company to move forward full scale in continuing the diamond and precious gem mining operations that are currently underway."

 Sierra Leone's diamond exports were valued at $98 million in 2008, according to the latest data published by the Kimberley Process (KP). The most recent official Sierra Leonean export figures valued shipments of diamonds, the country's main source of foreign currency, at $79 million for 2009.

Millennium's mining licenses are in the heart of the Baimbawai Pool of the Sewa River located near Gandorhun and Njala in the Tikonko Chiefdom, Bo district of Sierra Leone. 

"Our location in the Baimbawai pool in the Sewa River has historically produced a significant amount of the diamonds in Sierra Leone," said Mr. Hauck, "We will continue to work in Sierra Leone and we see substantial more international investment coming into the country into 2010 and the coming years," he added.

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About Dolat Ventures Inc. (OTCBB: DOLV)
Dolat Ventures Inc. through its wholly owned subsidiary Dove Diamonds & Mining and Millennium Mining LLC intends to mine, sell, market, cut and distribute its diamonds and gems around the world. The company intends to purchase rough and uncut diamonds and gems from international suppliers globally.

About Millennium Mining LLC
Millennium Mining LLC incorporated in Sierra Leone as a Private Limited Liability Company on March 3, 2008 and commenced commercial operations after obtaining its license from the Ministry of Mineral Resources (Sierra Leone). The company's core operations are to mine extracted, refine, and purify precious metals and stones. The Company buys, sells, distributes and exports diamond bauxite, rutile gold, silver and all other precious minerals in Sierra Leone and internationally. The company entered into a mining agreement to dredge mine land in the towns of Gandorhun and Njala in the Tikonko Chiefdom, Bo district of Sierra Leone. This area is known as the Baimbawai Pool of the Sewa River. 

Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.

These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

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