Delrand Resources Limited

Delrand Resources Limited

May 26, 2011 20:00 ET

BRC Diamondcore Closes Financing



NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Toronto, Canada - May 27, 2011. BRC DiamondCore Ltd. (the "Company") (TSX -- BCD; JSE -- BCD) announces that, further to its May 13, 2011 press release, it has closed a non-brokered private placement of 2,500,000 units of the Company at a price of Cdn$0.10 per unit for proceeds to the Company of Cdn$250,000. Each such unit is comprised of one common share of the Company and one warrant of the Company, with each such warrant entitling the holder to purchase one common share of the Company at a price of Cdn$0.11 for a period of three years. The Company intends to use the proceeds from this financing for general corporate purposes. Directors and officers of the Company were the subscribers under the financing.


This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

BRC DiamondCore Ltd. is an African-focused diamond explorer with projects in the Democratic Republic of the Congo. Led by a management team with extensive experience in diamond exploration and mine development, 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: Arnold T. Kondrat, Director, (416) 366-2221 or 1-800-714-7938.
In Johannesburg: Brian P. Scallan, Vice President, Finance, +27 82 902 6273 or +243 991772978.