Diamond Frank Exploration Inc.

Diamond Frank Exploration Inc.

October 21, 2008 08:45 ET

Diamond Frank Exploration Inc.: Acquisition of a Property With Diamondiferous Potential

LAVAL, CANADA--(Marketwire - Oct. 21, 2008) - Diamond Frank Exploration Inc. (TSX VENTURE:DOD) announces that it has reached an agreement to acquire a 100% interest in the K6 property of Diagnos Inc.

The property is comprised of 25 claims located in the area of Monts Otish (Territory of North of Quebec)

Following the terms of this agreement, Diamond Frank Exploration Inc has committed to the following terms:

- To disburse a payment of $5,000 within the 30 days following the signature of this agreement;

- To spend a minimum of 250.000 $ CAD in work of exploration for 2 years period following the signature of this agreement;

- In the possibility of a discovery confirmed by a positive feasibility study, Diamond Frank will have to pay to he vendor in the three following months of this discovery, 250.000 shares of its capital action;

- The property has a 2% GOR royalty if a mine is placed into commercial production, The society can acquire any time 1% of the GOR Royalty at the $1 000 000 CAD;

- This agreement is subject to the approval of the regulatory authorities.

The common shares of Diamond Frank Exploration are listed on the TSX Venture Exchange under the symbol "DOD".

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those in these "forward-looking statements".

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

Contact Information

  • Diamond Frank Exploration Inc.
    450-622-4066 / Toll Free: 1-877-622-4004
    450-622-4337 (FAX)