Diamondex Resources Ltd.
TSX VENTURE : DSP

Diamondex Resources Ltd.

August 08, 2005 18:10 ET

Diamondex Resources Ltd.: Drilling Commences on Carat Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 8, 2005) - Diamondex Resources Ltd. ("Diamondex") (TSX VENTURE:DSP) and Majescor Resources Inc. ("Majescor") are pleased to report that diamond drilling has commenced on the Carat property, located in the Northwest Territories. The property, comprised of 94,363 acres, is held under a joint venture agreement in which Diamondex holds 70% interest and Majescor holds the remaining 30%. The property is situated approximately 350 kilometres northeast of Yellowknife, Northwest Territories and lies immediately north of the Ekati Diamond Mine.

To date, a total of $3.2 million has been expended on the property on exploration including detailed airborne and ground geophysics, till sampling and diamond drilling. In 2001, a kimberlite (CT-55) was discovered on the Carat property, but no drilling has been carried out since then. In 2004, detailed enzyme leach, soil gas and till sampling program was conducted. Under this current program, Kluane Drilling Ltd. of Whitehorse, Yukon Territories, has been contracted to drill test 4 geophysical/geochemical targets. The 2005 exploration budget, including drilling, is estimated at $660,000. Results from this drilling will be announced following the completion of the program.

David Clarke, P.Geol., M.Sc., Vice President of Exploration for Diamondex Resources Ltd. is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Diamondex Resources Ltd.

DIAMONDEX RESOURCES LTD.

Randy C. Turner, President


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