Diadem Resources Ltd.

Diadem Resources Ltd.

December 03, 2009 11:49 ET

Diadem Announces Election of Directors and Shareholder Approval of Change of Auditor

MONTREAL, QUEBEC--(Marketwire - Dec. 3, 2009) - Diadem Resources Ltd. ("Diadem" or the "Company") (TSX VENTURE:DRL) is pleased to announce that at its annual and general meeting held on November 30, 2009, its shareholders elected Edward Schiller as a director of the Company.

Dr. Schiller is a consulting geologist with more than forty (40) years of worldwide experience in the mineral industry. Specializing in gemstones, Dr. Schiller has supervised mineral exploration programs in Canada as well as in Central and South America, Africa, Australia and Southeast Asia.

In particular, Dr. Schiller previously served as a director and consultant to Dia Met Minerals Ltd., where he supervised the drilling of the first diamond-bearing kimberlite in Canada's Northwest Territories, at Pointe Lake. Since then, he has been directly involved in several other Canadian diamond projects.

Diadem is also pleased to announce that Mssrs. (Hon) William H. (Bill) McKnight, Aime Bertrand, Thomas Skimming, A. Lee Barker and Andre Dupuy, being all of the incumbent directors of the Company, were re-elected.

"We are very excited to have such an experienced and talented board of directors. We look forward to making our diamond exploration activities in the Franklin Bay area (Northwest Territories) a great success and, ultimately, bringing value to our shareholders," stated Aime Bertrand, Chairman and Chief Executive Officer.

Additionally, the Company's shareholders approved the change of auditors from McGovern, Hurley, Cunningham, LLP (which was initially appointed by the Corporation effective May 1, 2004) to Raymond Chabot Grant Thornton, LLP, a chartered accounting firm based in Montreal, Quebec.

The Company also takes this opportunity to announce that its shareholders have approved the adoption of its "rolling" Stock Option Plan (in the form attached as a schedule to its recent Information Circular).

As of the date hereof, Diadem has 19,944,647 issued and outstanding common shares (20,444,647 on a fully diluted basis).

About Diadem Resources Ltd.

Management of Diadem is focused on acquiring near-production mining opportunities in North America, especially those related to diamonds and gold. Its principal current activity is diamond exploration in the Franklin Bay area of the Northwest Territories. On that project Diadem now has identified 28 potential drill targets on the Parry Peninsula, which currently constitutes the Franklin Bay project area. A ground magnetic survey has just been completed and the results are being analyzed. When the analysis is complete, Diadem expects to finalize its drilling program (which is subject to permitting).

Additional information about Diadem Resources Ltd. may be found on its web page (www.diademresources.com) and under Diadem's profile on www.sedar.com.

Cautionary Statement

This press release may contain certain forward-looking statements with respect to Diadem Resources Ltd. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Diadem Resources Ltd.'s expectations are various risks detailed from time to time in the filings made by Diadem Resources Ltd. with securities regulations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.

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