Diamonds North Resources Ltd.
TSX VENTURE : DDN

Diamonds North Resources Ltd.

May 18, 2011 10:05 ET

Diamonds North Acquires Permits with Grab Samples as High as 43.9 g/T Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2011) - Diamonds North Resources Ltd. (TSX VENTURE:DDN) announces the acquisition of exploration permits over gold showings where grab samples as high as 43.9 g/T gold were reported. The acquisition and evaluation of the Fox Property in Southern Nunavut is part of the Company's strategy to identify significant gold opportunities.

The Fox property is comprised of four permits covering an estimated 45 kilometre strike length of prospective volcanic and sedimentary rocks including iron formation. This geological package is reported to be intersected by the Pyke Fault which is believed to control mineralization at the Meliadine Gold deposit (resource of more than 5 million oz gold *).

Several known gold prospects have been reported on the permit block. The Fox prospect comprises 2 distinct sub-parallel iron formation occurrences that have yielded grab samples assaying in the 1 to 43.9 g/T gold range over 2.2 kilometres. The Am prospect which is located 12 kilometers north of the Fox prospect comprises a gold bearing iron formation with numerous gold values ranging from 1 to 9.8 g/T gold.

"The project covers 45 kilometres of under-explored gold prospective geology with proven high grade assays. A new low cost exploration approach could lead to significant new discoveries," says Mark Kolebaba, President and CEO of Diamonds North.

The gold values reported were extracted from assessment reports and have not been verified by the Company, however, the work appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality. Bruce Kienlen (P. Geol) and Graham Gill (P. Geo) are Diamonds North's qualified persons, as defined by National Instrument 43-101, reviewing this project.

About Diamonds North

Diamonds North Resources is rapidly evolving and committed to building long-term value for shareholders through ongoing discoveries and leveraging business opportunities from our vast land holding.

On behalf of Diamonds North Resources Ltd.

Mark Kolebaba, President & CEO

* Meliadine Resource estimate includes: measured, indicated and inferred categories. Extracted from: Comaplaex Minerals Corp.: Meliadine Gold Project, Nunavut, Canada. Technical Report. February 2010.

Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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

Contact Information