Diamonds North Resources Ltd.

Diamonds North Resources Ltd.

July 14, 2010 16:03 ET

Diamonds North Closes Tranche 2 of Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2010) - Diamonds North Resources Ltd. (TSX VENTURE:DDN) reports that a portion of the non-brokered private placement announced on June 15, 2010 has closed for gross proceeds of $470,000. The Company has issued 2,350,000 flow-through common shares and paid finders fee of 17,500 finders warrants. The finders warrants are exercisable at $0.25 until July 13, 2011.

All the securities issued hereunder are subject to a four month hold period and may not be traded until November 14, 2010.

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

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

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