Delrand Resources Limited

Delrand Resources Limited

February 03, 2008 19:00 ET

BRC Diamond Corporation Begins Trading On JSE As Prelude To Merger With Diamond Core Resources

BRC Diamond Corporation ("BRC" or the "Company") (TSX.V -- "BRC"; JSE -- "BCD") is pleased to announce that its common shares have been listed on the JSE Limited ("JSE") in Johannesburg and that trading of such shares on the JSE commenced today, February 4, 2008, under the trading symbol "BCD".

This listing precedes the pending merger of the businesses of BRC and Diamond Core Resources Limited ("Diamond Core"). As previously disclosed, this merger is being implemented by way of a court-sanctioned scheme of arrangement (the "Scheme") between Diamond Core and its shareholders under the provisions of applicable South African corporate law, pursuant to which BRC will acquire all of the outstanding shares of Diamond Core in exchange for the issuance of BRC shares. The Scheme received overwhelming support from Diamond Core's shareholders. The transaction is expected to be completed on February 11, 2008 and, in connection with such completion, the Company's name will be changed to BRC DiamondCore Ltd. Trading on the JSE under this new name will continue under the symbol "BCD".

As part of the transaction, BRC has applied, and received conditional approval, for the listing of its shares on the Toronto Stock Exchange ("TSX"). Such listing is subject to certain conditions, including that the Diamond Core transaction be completed. It is expected that trading of such shares on the TSX under the new name of BRC DiamondCore Ltd. will begin on or about February 11, 2008, also under the symbol "BCD".

Dr. Mike de Wit, President and C.E.O. of BRC, commented: "This is a very exciting day for all stakeholders, with the listing of BRC on the JSE being the final step preceding the merger of the businesses of BRC and Diamond Core. The combined business, which builds on the natural synergies of both companies, will bring together Diamond Core's strong engineering capabilities and advanced development projects in South Africa, with BRC's geological expertise and substantial portfolio of highly prospective projects in the most prominent diamond districts of the Democratic Republic of the Congo."

"With listings on two major stock exchanges and a leadership team with a proven track record in diamond exploration, development and operations, BRC DiamondCore Ltd. will be in a unique position to grow organically and through acquisition."

For more information on the transaction, please see the press releases dated July 5, 2007, August 2, 2007, September 7, 2007, October 30, 2007 and December 14, 2007, copies of which are available on SEDAR at www.sedar.com.

For further information, please contact Dr. Mike de Wit, President and C.E.O., Arnold T. Kondrat, Executive Vice President, or Martin D. Jones, Vice President, Corporate Development, at (416) 366-2221 or 1-800-714-7938.

Johannesburg
4 February

Sponsor
River Group