Talmora Diamond Inc.

October 10, 2007 12:56 ET

Talmora Diamond Completes 2007 Summer Exploration Program on Horton River

TORONTO, ONTARIO--(Marketwire - Oct. 10, 2007) - Talmora Diamond Inc. (CNQ:TALM) is pleased to provide a further update of the 2007 exploration program on its Horton River project.

A field program was carried out in the second half of August on the company's diamond exploration property on the Horton River south of Paulatuk in the Inuvialuit Settlement Area of the Northwest Territories.

Anomalies from an airborne magnetic survey that was completed in June over four of the company's prospecting permits, were investigated on the ground. Many of the anomalies have characteristics that would be expected of a kimberlite pipe. They cluster on or near magnetic (diabase?) dykes and many coincide with small shallow and often rounded ponds. They are all magnetic highs (1 to 17 nanoteslas.)

Eight of the anomalies that coincide with small ponds were ground-truthed. The ponds could not be surveyed but magnetic highs were approached at the edges of the ponds. Nothing was noted that might indicate the cause of the anomalies. However, occasional pieces of fercrete were found over a wide area and is significant as its formation may coincide with destruction of silicate indicator minerals in the weathered surface of kimberlites.

Till samples weighing 50lbs were collected down-ice of many of the anomalies and 178 samples have been shipped to the De Beers laboratory for concentration and analysis for kimberlite indicator minerals (KIMs). The presence or absence of KIMs will help prioritize drill targets. The anomalies are located up stream and some are located up-ice of KIMs found in Talmora stream and till samples collected in 2004. Further, a regional survey described in a prospectus of Sanatana Diamonds Inc. dated April 19, 2006 shows anomalous KIMs on the Sanatana permits down-ice of the Talmora anomalies.

The field program included staking of anomalies on the three original permits as these permits lapse at the end of January 2008. 42,000 Acres were staked and include a block of 15 large claims covering clusters of anomalies and 35 small claims covering individual anomalies.

A number of the anomalies will be tested by drilling which will probably have to be done in the winter months as so many of the anomalies coincide with ponds. The drill program will be more extensive than any carried out by the company to date and will require new funding after program planning and budgeting.

The large number of anomalies on the original permits was unexpected and the importance of evaluating and staking them did not leave time to do the planned work on the new permits acquired in 2007. Sampling on these permits will be done in the 2008 summer field season.

The technical information contained in this release was compiled by Alan W. Davies, P.Eng., P.G., who is the Vice-President of Exploration for Talmora. Alan W. Davies is a qualified person as defined by National Instrument 43-101.

CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, future plans and objectives of Talmora Diamond Inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Talmora Diamond Inc.'s expectations are the risks detailed herein and from time to time in the filings made by Talmora Diamond Inc. with securities regulators.

The CNQ does not accept responsibility for the adequacy or accuracy of this release.

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