Diagem Inc.
TSX VENTURE : DGE

Diagem Inc.

September 24, 2007 11:28 ET

Diagem Realizes $2.1 Million from Sale of Investments

MONTREAL, QUEBEC--(Marketwire - Sept. 24, 2007) - Diagem Inc. ('Diagem" or "the Company")(TSX VENTURE:DGE) announces that it has realized $2.1 million in gross proceeds from the sale of 7,000,000 common shares of MacDonald Mines Exploration Ltd. ("MacDonald"), 2,000,000 common shares of Spider Resources Inc. ("Spider") and 2,000,000 common shares of KWG Resources Inc. ("KWG").

Denis Francoeur, Diagem's CEO, stated "The proceeds from the sales deliver to the Company additional working capital, enhancing our ability to proceed with our exploration and development plans without interruption. Our main focus, of course, continues to be to further define and develop our Brazilian kimberlite pipe discoveries that have been made over the past year and to complete a feasibility study on the advanced Collier-04 project."

Diagem continues to hold 1,000,000 common shares of MacDonald, and remains a significant shareholder of KWG with 37,913,827 common shares.

About Diagem

Diagem Inc. is a publicly listed Canadian exploration mining company focused on primary diamondiferous resources in the Juina Diamond Province of Mato Grosso, Brazil, where it controls a large portfolio of mineral properties. The Company has one advanced development stage project and recently discovered two clusters of kimberlite pipes believed to be the main sources of the Juina Province historical alluvial diamond production.

Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Contact Information

  • Diagem Inc.
    Denis Francoeur
    CEO
    514-866-6001 (ext 265)
    or
    Diagem Inc.
    Paul Einarson
    CFO
    514-866-6001 (ext 251)
    or
    Diagem Inc.
    Nicole Blanchard
    Investor Relations
    450-627-6600
    www.diagem.com