Delrand Resources Limited

Delrand Resources Limited

April 23, 2008 20:00 ET

BRC DiamondCore Second Tender Realises US$750,077

Recoveries include 45.86-carat dark orange/brown diamond at Paardeberg East

Toronto, Canada and Johannesburg, South Africa - April 24, 2008 - BRC DiamondCore Ltd. (the "Company") (TSX - "BCD"; JSE - "BCD") is pleased to announce that it has realized US$750,077 from its second tender of diamonds - comprising a total of 1,651.02 carats - recovered from bulk sampling/trial mining at its Silverstreams alluvial and Paardeberg East kimberlite projects in South Africa's Northern Cape Province.

Commenting on the tender for the month of April - comprising production from the two projects for the month of March - Theo Botoulas, CEO of the Company, said: "The prices received are generally in line both with the continuing strong price trend and our expectations; however, the prices achieved for diamonds from Silverstreams and the PK5 deposit at Paardeberg East have been particularly encouraging."

A highlight for the March production month was the recovery of a 45.86 carat dark orange/brown stone from the eastern lobe of the PK1 kimberlite at Paardeberg East. This was withheld from the tender and will be beneficiated by the Company.

"Such a large stone of unusual colour presents us with an opportunity to extract better value by having it cut and polished to our specification, then selling it ourselves," Mr. Botoulas said.

Other special stones - which were sold at tender - included a 10.22 carat fancy yellow dodecahedron sold for US$12,509 per carat and a 14.88 carat white dodecahedron sold for US$7,211 per carat, both recovered from Silverstreams; and a 9.97 carat rhombic dodecahedron sold for US$5,531 per carat and a 5.05 carat white dodecahedron sold for US$3,865 per carat, both recovered from Paardeberg East.

Photos of the special diamonds mentioned in this press release and in the Company's press release of March 4, 2008, as well as additional diamonds recovered at Paardeberg East and Silverstreams, can be viewed in the photo gallery section of the Company's website,


The 200 stones recovered from Silverstreams sold at tender weighed a total of 327.76 carats, an average of 1.64 carats per stone. Their total value was US$484,044, an average of US$1,476.84 per carat.

"The size frequency distribution of the diamond population for the April tender is in line with the Silverstreams diamond analysis to date," said Mr. Botoulas.

"The Cumulative Number of Stones vs Lower Critical Size plot of the +2 carat diamonds indicate that within a sample of 1,000 carats there is a probability of recovering a diamond of +50 carats.

"Silverstreams has recovered in excess of 1,000 carats to date and the recovery of a large stone in this range would be to expectation. We have configured the metallurgical plant to recover the larger fraction as described by the diamond analysis thus far."

The Silverstreams 'special stones' (+10.8 carats) totalled 25.06 carats (approximately 8% by weight) and achieved a value of US$234,777 (approximately 48% by value).

Paardeberg East

From Paardeberg East's PK5 kimberlite, 975 stones with a total weight of 337.76 carats and averaging 0.35 carats per stone were sold at tender. Their total value was US$112,955, averaging US$334.42 per carat. From Paardeberg East's PK1 kimberlite, 3,993 stones with a total weight of 985.50 carats and averaging 0.25 carats per stone were sold at tender. Their total value was US$153,078, averaging US$155.33 per carat.

"In respect of Paardeberg East, an additional highlight for the month was the sale of diamonds from the PK5 kimberlite - on which sampling operations are currently under way - in order to establish average value," said Mr. Botoulas.

"The PK5 diamond Size Frequency Distribution analysis indicates that this deposit will have the coarsest diamond distribution of all deposits on the Paardeberg East project. The diamond analysis of production from PK5 to date, totaling 1,139.86 carats, has indicated that its diamond population is whiter and cleaner than those of the PK1 and PK3 deposits.

"The Cumulative Number of Stones vs Lower Critical Size plot of the +2 carat diamonds of the PK5 deposit indicates it will have a larger percentage of special stones, with a high probability of a +80 carat stone in the next 10,000 carats."

The Company maintains an inventory of diamond product from its operations which are sold as the diamond analysis per sample is concluded. Technical data with respect to the diamond populations per deposit has been recorded and analysed by independent diamond consultants.

Additional information with respect to the Paardeburg East and Silverstreams projects is contained in the technical report prepared by Venmyn Rand (Pty) Limited, dated July 31, 2007 and entitled "National Instrument 43-101 Technical Report Prepared on the Mineral Assets of Diamond Core Resources Limited in the Northern Cape and Free State Provinces, South Africa." A copy of this report can be obtained from SEDAR at

Dr. Mike de Wit, President of the Company, is the "qualified person" (as such term is defined in National Instrument 43-101) who supervised the preparation of and is responsible for the technical information in this 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 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,, 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.

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 diamond prices, future diamond recoveries and sales, future production, exploration results, potential mineralization and the Company's plans with respect to the exploration and development of its properties) 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 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, delays in obtaining or failure to obtain required project approvals, 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.