Diadem Resources Ltd.

Diadem Resources Ltd.

May 01, 2007 14:46 ET

Diadem Resources Ltd.: Resignation of Director

TORONTO, ONTARIO--(CCNMatthews - May 1, 2007) - Diadem Resources Ltd. (TSX VENTURE:DRL) reported that William M. Shaver has resigned today as a Director of the Company and accordingly also will cease to be Vice-Chairman of the Board. Mr. Shaver is Executive Vice President, Mine Development and Canadian Operations of Denison Mines Corp. which is in an active growth period and he found that he could not devote adequate time to the affairs of Diadem. There are no current plans to replace Mr. Shaver as a Company Director.

Management of Diadem is focused on acquiring near-production mining opportunities in North America, especially those related to gold. Diadem is active with its Duquesne West gold project in the Destor-Porcupine fault zone, 32 km north of Rouyn-Noranda, Quebec. A 12,000 meter diamond drill program on the gold project was completed earlier this year and the results are currently being assessed. The Company also is engaged in diamond exploration in the Franklin Bay area of the Northwest Territories. On the diamond exploration property on the Parry Peninsula, which constitutes most of the Franklin Diamond Project, the Company has identified 23 potential drill targets. Plans are being developed to drill these targets.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the information contained in this news release.

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