Big Red Diamond Corporation
TSX VENTURE : DIA

Big Red Diamond Corporation

November 23, 2010 12:39 ET

Big Red Diamond Corporation: Nomination to the Board, Increase to Stock Option Plan and Grant of Stock Options

MONTREAL, QUEBEC--(Marketwire - Nov. 23, 2010) - Big Red Diamond Corporation ("Company" or "DIA") (TSX VENTURE:DIA) is pleased to announce the appointment of Gordon Henriksen to its board of directors, effective immediately, subject to regulatory approval. The board of directors has granted 250,000 stock options to Mr. Henriksen, exercisable for a period of five years at a price of $0.10 per share. The Company has also granted 800,000 stock options to a corporate development consultant, exercisable for a period of two years, at a price of $0.10 per share.

Mr.Henriksen graduated from Concordia University with a Bachelors of Science in geology and has been a member of the Ordre des Géologues du Québec since 2003. Mr. Henriksen is an independent geologist. He is currently the chief geologist of Knick Exploration inc. and this since the last two years. From 2002 to 2007, Mr. Henriksen was a consultant in geology on a contractual basis. Mr. Henriksen presently acts as principal geologist consultant for several junior mining exploration companies. He is also part owner, with several prospectors, of interests in a number of mining properties in Ontario and Quebec. During his career, Mr. Henriksen has developed considerable experience in the research and evaluation of sources of precious metals and several other metals. He is an acting consultant for the Geological Commission of Canada for several mining exploration corporations. He has worked in Mexico, Alaska, Washington, British Columbia, Newfoundland and Labrador, Ontario and also in Quebec, mainly in Abitibi-Témiscamingue. Currently Mr. Henriksen is a director for Exploration Aurtois Inc.

Big Red also announces that, subject to the TSX Venture Exchange's approval, it has increased the number of common shares reserved under its stock option plan from 6,000,000 to 8,200,000. This amendment is subject to the approval of the TSX-Venture Exchange. The increase has been authorized by the Board of Directors of the Corporation to maintain the ratio of shares reserved under the plan to outstanding shares at 10%, as a result of the Corporation's completed private placement financing. Other than the 5,900,000 options already reserved for issuance under the stock option plan, all options are subject to the TSX Venture Exchange's approval of the increase in the Corporation's stock option plan and will only be exercisable if and when such approval is received. With this grant, the Company now has a number of 6,950,000 stock options outstanding.

The board of directors consisting of Jean-François Perrault, Clint Barr and Michael Neary are pleased to welcome Mr. Henriksen to the board and look forward to his contribution to the exploration success of the Company.

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