Delrand Resources Limited

Delrand Resources Limited

August 20, 2008 20:00 ET

Brc Diamondcore Announces Financing


Toronto, Canada and Johannesburg, South Africa -- August 21, 2008: BRC DiamondCore Ltd. (the "Company") (TSX -- BCD; JSE -- BCD) announces that it has engaged Kingsdale Capital Markets Inc. (the "Agent") of Toronto, Canada to act as agent to sell on a best efforts basis, by way of private placement, up to 3,000,000 common shares of the Company at a price of Cdn$1.00 per share for gross proceeds of up to Cdn$3,000,000 (the "Financing"). The Company has agreed to pay to the Agent a cash commission equal to 5% of the gross proceeds of the Financing and to grant to the Agent that number of broker warrants which is equal to 5% of the number of shares sold under the Financing, with each such broker warrant entitling the holder to purchase one common share of the Company at a price of Cdn$1.00 for a period of two years from closing.

The net proceeds of the Financing will be used for general corporate purposes. The closing of the Financing is subject to the receipt of all required regulatory approvals, including the approval of the Toronto Stock Exchange.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

The Company raised Cdn$525,000, by way of the issue and sale of 350,000 common shares of the Company, pursuant to the non-brokered private placement announced in the Company's June 30, 2008 press release.

BRC DiamondCore Ltd. is an African-focused diamond explorer active in South Africa and the Democratic Republic of the Congo (the "DRC"). Led by a management team with extensive experience in diamond exploration and mine development, the Company has a broad spectrum of projects ranging from advanced stage trial mining operations through grass-roots exploration. The Company's projects include both high-value carat alluvial gravels and primary kimberlite targets. The Company works in a systematic and responsible manner to discover, assess and develop diamond resources for the benefit of its shareholders and local stakeholders.

For further information, please visit our website, www.brc-diamondcore.com, or contact:

In Toronto:
Martin D. Jones, Vice President, Corporate Development, (416) 366-2221 or 1-800-714-7938.

In Johannesburg:
James Duncan, Russell and Associates, +27 11 880-3924


Forward-Looking Statements: This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the closing of the Financing and the anticipated proceeds from the Financing) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that the proceeds from the Financing will be less than anticipated due to market conditions or other factors, the possibility that future exploration results will not be consistent with the Company's expectations, changes in equity markets, changes in diamond markets, foreign currency fluctuations, political developments in South Africa or the DRC, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting geological data and the other risks involved in the diamond exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.