Diamondex Resources Ltd.
TSX VENTURE : DSP

Diamondex Resources Ltd.

February 19, 2007 11:02 ET

Diamondex Resources Ltd.: Exploration Programs Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 19, 2007) - Diamondex Resources Ltd. (TSX VENTURE:DSP) ("Diamondex") is pleased to provide 2007 exploration program updates for its Warman and Summit Lake projects, both located in central Saskatchewan. Exploration results from both the Lena West and Brodeur projects, located in the Northwest Territories and Nunavut respectively, along with 2007 exploration programs and budgets are currently being compiled and will be released in the near future. (See www.diamondex.net for project locations).

Warman Project, Saskatchewan

The 2007 exploration program on the Warman project is expected to begin shortly. A detailed gravity survey will commence during the week of February 19 to test a large gravity anomaly, which measures approximately 1.2 kilometres x 1.2 kilometres. Diamondex field crews conducted an initial evaluation of this potential kimberlite target in September 2006. Following the completion of this survey, a 1,000-metre diamond drill program will be undertaken during the first week of March. It is expected that at least three (3) holes will be drilled over the target. The results from this program will help determine the next phase of exploration for the project.

The Warman Property is located 30 kilometres north of Saskatoon, Saskatchewan. The property comprises 15 contiguous mineral claims, covering a total of 9,201 hectares. Diamondex has the right to earn a 100% interest in the property, subject to an option agreement with Hartley and Associates and Mr. Michael Hartley of Edmonton, Alberta.

Summit Lake Project, Saskatchewan

The exploration work on the Summit Lake property will comprise surveying priority magnetic targets and subsequent drill testing. A geophysical crew will commence work on the property on or about February 25. Detailed gravity and magnetic surveys will be conducted over five (5) priority magnetic anomalies on the property that could be representative of kimberlite intrusions. Up to 1,500 metres of diamond drill testing will commence in March. Target 2793, characterized by a gravity high, is of particular interest to the Company. This target, according to initial magnetic data, measures approximately 750m x 200m.

The Summit Lake Project is comprised of 17 mineral claims totaling 4,980 hectares centered approximately 135 kilometres northeast of Prince Albert, Saskatchewan. Diamondex has a right to earn a 60% undivided interest in the property from Adamas Minerals Inc.

The combined field costs for the proposed Warman and Summit Lake exploration programs is approximately $500,000.

David Clarke, P.Geol., MSc., 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

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

Contact Information