Diamonds North Resources Ltd.

Diamonds North Resources Ltd.
Shear Minerals Ltd.

Shear Minerals Ltd.

April 17, 2007 16:00 ET

Diamonds North Resources and Shear Minerals Ltd. Approve C$185,000 Exploration Budget for Sakari Project

Airborne Geophysical Survey Underway

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 17, 2007) - Diamond North Resources (TSX VENTURE:DDN) and Shear Minerals Ltd. (TSX VENTURE:SRM) announce a C$185,000 budget for the Sakari project located in the Franklin Kimberlite District of Nunavut and adjacent to the Darby property where five kimberlites were discovered during the 2006 field season. Preliminary targets suggestive of kimberlites have been identified on the Sakari Property that the companies believe could be part of the diamondiferous Franklin kimberlite field.

The C$185,000 exploration program for Sakari in 2007 will include:

- Airborne geophysics on the Sakari property

- Evaluating targets with detailed geophysics

- Drill testing high priority targets

The objective of the 2007 exploration program is to increase shareholder value by discovering diamondiferous kimberlites in this known diamondiferous kimberlite field.

"The 2007 exploration program is designed to determine if the Sakari property covers a portion of the Franklin kimberlite field. If we are successful, I believe this will generate significant value for both Companies," says Mark Kolebaba, president and CEO of Diamonds North Resources.

Shear Minerals Ltd. has the right to earn a 50% interest in the Sakari property (See news release NR06-27, August 15, 2006) and Diamonds North is the project operator.

Mr. Bruce Kienlen (P.Geol.) is Diamonds North's Qualified Person for the project and Ms. Jennifer Burgess, P.Geol. of Burgess Diamonds, is Shear Minerals Qualified Person as defined under NI 43-101 and will be responsible for data review by Shear Minerals on this project.


Diamonds North Resources is the dominant explorer in the Pelly Bay region and is focused on discovering Canada's next diamond mine. The Company is rapidly evolving and committed to building long-term value through ongoing diamond discoveries.


Shear Minerals Ltd. is a Canadian-based exploration company focused on diamond exploration in the Canadian North where it explores in established diamond districts and has discovered new ones. Shear currently has a portfolio of ten diamond projects, seven of which are drill-ready. The Company has advanced its 51%-owned Churchill Diamond property in Nunavut from a conceptual grassroots project to a new kimberlite district hosting 52 kimberlites.


Mark Kolebaba, President & CEO

Diamonds North Resources Ltd.

Pamela Strand, President & CEO

Shear Minerals Ltd.

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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