Diamonds North Resources Ltd.
TSX VENTURE : DDN

Diamonds North Resources Ltd.

June 07, 2006 12:37 ET

Diamonds North Appoints Uranium North's Board of Directors

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 7, 2006) - Diamonds North Resources Ltd. (TSX VENTURE:DDN) announces that Stuart (Tookie) Angus, Geir Liland, Maynard Brown and Mark Kolebaba have been appointed to the Board of Uranium North Resources Corp. Terry Lyons has been appointed as an advisor to the Board.

The first tasks of the Board will be to complete the property portfolio, finalize selection of a President and CEO and complete the filing of the prospectus. A brief summary of each director's history is listed below:

Mr. Stuart (Tookie) Angus has been involved with several resource companies and is an independent business advisor to the mining industry. He was most recently Managing Director - Mergers & Acquisitions for Endeavour Financial. Prior to joining Endeavour Financial, he was a partner at the Canadian law firm Fasken Martineau DuMoulin and headed that firm's Global Mining Group. For over 25 years, Mr. Angus has focused on significant international exploration, development and mining ventures, and all aspects of their structuring and finance. Mr. Angus has held directorships of several successful companies and is currently a director of Nevsun Resources Ltd., Bema Gold Corporation and Plutonic Power Corporation. Mr. Angus's previous success in business strategy and corporate finance will prove to be an exceptional asset in determining the direction of Uranium North Resources.

Mr. Geir Liland brings over 25 years of corporate finance, accounting and management experience to Uranium North. In 1982 after working for a number of accounting firms and public companies, Mr. Liland joined the TSX Venture Exchange, formerly the CDNX and Vancouver Stock Exchange. From November 1999 until August 2002 Mr. Liland held the position of Vice President, Corporate Finance (Vancouver). During this period Mr. Liland was involved in policy streamlining, member firm corporate finance review and was also a member of the Exchange's Executive Listings Committee. Currently Mr. Liland is a business consultant and a director of several public companies. Mr. Liland's understanding of corporate governance and his experience with the junior market will be an asset to Uranium North.

Mr. Maynard Brown has been a member of the Law Society of British Columbia since 1973, and was a partner of Brown McCue, a Vancouver law firm that specialized in advising public companies on securities law and matters related to financial and stock exchange transactions. Mr. Brown serves as a Director of several junior exploration companies and has been a Director of Diamonds North since its inception in 2002. Mr. Brown's knowledge of corporate structure and securities law has significantly contributed to the creation of Uranium North and will continue to serve as an asset as Uranium North develops.

Mr. Mark Kolebaba has been actively exploring for minerals since the 1980's and has experience with diamond, gold, silver and base metals. This experience ranges from early to advanced exploration, feasibility studies, and working in an operating mine. Mr. Kolebaba has held positions with BHP Billiton, Cominco Ltd. and the Northgate Group of companies. Mr. Kolebaba was part of the team that discovered the first 120 kimberlites at the Ekati Diamond Mine and was responsible for the initial discovery of the Hope Bay Gold deposit in Nunavut. Mr. Kolebaba currently serves as President and CEO of Diamonds North Resources Ltd. where he and the exploration team have acquired one of Canada's largest land positions. This work has resulted in the discovery of the Amaruk project and nearly 4 million acres of uranium prospective ground which serves as the foundation for Uranium North Resources Corp. Mr. Kolebaba's strengths lie in land and project acquisition and new business development. His aggressive management style and his understanding of exploration in northern Canada will be a significant advantage to the future development of Uranium North.

Mr. Terry Lyons is currently the Chairman of the board of Northgate Minerals Corporation, a company that is actively mining in British Columbia. Since 1976 Mr. Lyons has held a variety of senior positions at Versatile Corporation where he was involved in strategic planning, budgeting and finance, mergers and acquisitions and project management. In 1986 he was appointed Senior Vice-President responsible for the restructuring of Versatile Corporation, now known as BC Pacific Capital Corporation which is an affiliate of Brascan Financial Corporation. Mr. Lyons currently serves as a director and officer of several public corporations including Diamonds North, BC Pacific Capital Corporation, and Canaccord Capital Inc. As an advisor to the Board of Directors Mr. Lyons' business experience and his knowledge of the junior exploration industry will contribute substantially to the expansion of Uranium North.

On behalf of the Board of Directors of Diamonds North we welcome Stuart (Tookie) Angus, Geir Liland and Maynard Brown to the Board of Uranium North Resources Corp. and Terry Lyons to the Advisory Board. We believe that with this strong management team and the compelling property portfolio, Uranium North is positioned to succeed.

Diamonds North is a dynamic successful exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.

On behalf of Diamonds North Resources Ltd.

Mark Kolebaba, President & CEO

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.

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