Big Red Diamond Corporation

Big Red Diamond Corporation

March 28, 2006 12:51 ET

Big Red Diamond Corporation: $236,250 Private Placement

MONTREAL, QUEBEC--(CCNMatthews - March 28, 2006) - Big Red Diamond Corporation (TSX VENTURE:DIA) announces that it has concluded with six (6) qualified investors a private placement of $236,250 consisting in the issuance of 225 units at a price of $1,050 per unit. Each unit entitles the holder to acquire 5,600 flow-through common shares and 1,400 common shares, at a price of $0.15 per share. 3,500 common share purchase warrants exercisable at $0.20 per warrant are also issued as part of each unit and are valid until December 31st, 2007.

As compensation in completing this placement 300,000 brokers options are to be issued. These Options allow the holder to acquire shares at a price of $0.20 per share until December 31st, 2007.

The proceeds from this private placement will be used for general working capital and to pursue exploration efforts on its Ontario and Quebec diamond properties.

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

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