Delrand Resources Limited

Delrand Resources Limited

September 07, 2008 20:00 ET

BRC DiamondCore Appoints New Director and Stock Options Grants

Toronto, Canada and Johannesburg, South Africa - September 8, 2008 - BRC DiamondCore Ltd. (the "Company") (TSX - "BCD"; JSE - "BCD") announces that Brian Scallan has been appointed a director of the Company. Mr. Scallan also holds the position of Vice President, Finance of the Company.

As required by sections 3.63 to 3.65 of the JSE Limited Listing Requirements, the following information is also reported:

The board of directors of the Company has granted to employees, officers, directors and consultants of the Company a total of 2,420,000 stock options of the Company (the "Options"), with each such Option entitling the holder to purchase one common share of the Company at a price of Cdn$1.05 until August 28, 2013. The Options were so granted on August 28, 2008 at a meeting of the board of directors of the Company, where clearance to deal in terms of section 3.66 of the JSE Limited Listing Requirements was obtained. The Options were granted pursuant to the terms of the Company's Stock Option Plan and, as provided for in the said Plan, vest as follows: 1/4 of the Options granted to each optionee vested immediately on the date of grant and another 1/4 of such Options will vest on each of the 6 month, 12 month and 18 month anniversaries of the date of grant.

The following sets out details of the Options granted to the directors of the Company:

Name Number of Options
Michiel C.J. de Wit 300,000
Geoffrey G. Farr 100,000
Gregory D. Hunter 100,000
Arnold T. Kondrat 250,000
Brian Scallan 175,000
Stephen C. Thomson 100,000
Simon F. W. Village 250,000

The Company is an African-focused diamond explorer active in South Africa and the Democratic Republic of the Congo. 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 comprise both prospective 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 at, or contact:

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

In Johannesburg: James Duncan, Russell & Associates, at 27 11 880-3924.