Diamondex Resources Ltd.

Diamondex Resources Ltd.

February 28, 2008 09:30 ET

Diamondex Resources Ltd.: Drilling Commences on Weiland Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2008) - Diamondex Resources Ltd. (TSX VENTURE:DSP) ("Diamondex") is pleased to announce that drilling has commenced on the Weiland project, located in the Kyle Lake kimberlite cluster area of the James Bay Lowlands of Northern Ontario (See www.diamondex.net for project location and details).

The $1.8 Million 2008 winter exploration program will include the drill testing of 40 high priority magnetic targets utilizing two light-weight reverse circulation drills. Ground geophysical surveying began on February 15th to detail magnetic anomalies in advance of the drilling.

An additional 3,600 line kilometres of low-level, high-resolution, airborne magnetic data was recently acquired by the joint venture (see news release dated November 8, 2007) and is currently being analyzed. Any additional high priority anomalies identified will be staked during the current exploration program. Prior to the purchase of the most recent airborne data set, a total of 56,500 line kilometres of a similar quality magnetic surveys, flown on 100 metre-spaced lines was evaluated and 98 claims were staked over 100 magnetic anomalies.

The Weiland Project is located approximately 120 kilometres west of De Beers Canada's Victor mine and in the vicinity of the Noront Resources nickel-copper-PGM massive sulphide discovery. The property is held under a 60:40 joint venture with De Beers Canada Inc. with Diamondex as Operator. De Beers has elected not to participate in this upcoming winter program and its joint venture interest will be diluted accordingly.

Mr. Raymond Ashley, P.Geoph. Vice President of Exploration for Diamondex, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this press release.


Randy C. Turner, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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