Dianor Resources Inc.
TSX VENTURE : DOR

Dianor Resources Inc.

September 06, 2007 16:06 ET

Dianor Holds First Closing of Private Placement

VAL-D'OR, QUEBEC--(Marketwire - Sept. 6, 2007) - This news release is not for distribution to United States newswire services or for dissemination in the United States.

Dianor Resources Inc. (TSX VENTURE:DOR) announces that it has held a first closing for $3 million of its $3.5 million private placement by issuing flow-through units and non-flow-through units to five funds associated with Mavrix of Toronto, Ontario.

At the closing, Dianor issued 1,666,667 non-flow-through units at a price of $0.60 per unit, for gross proceeds to Dianor of $1,000,000. Each non-flow-through unit consists of one common share and one-half of a common share purchase warrant. Each full warrant entitles the holder to acquire one additional common share at a price of $0.90 until September 6, 2008.

Dianor also issued 2,666,666 flow-through units at a price of $0.75 per unit, for gross proceeds to Dianor of $2,000,000. Each flow-through unit consists of one flow-through common share and one-half of a common share purchase warrant. Each full warrant entitles the holder to acquire one additional common share at a price of $1.00 until September 6, 2008.

In connection with the private placement, Dianor paid a finder's fee to Desjardins Securities Inc. of $180,000, representing 6 % of the gross proceeds raised in the private placement.

The net proceeds from the private placement will be used for exploration on Dianor's properties in Quebec and Ontario and for general corporate and working capital purposes. As a result of the closing of the private placement, there are 136,317,657 common shares of Dianor issued and outstanding. A second closing of the private placement is expected to be held shortly.

Under applicable securities legislation and the policies of the TSX Venture Exchange, all of the securities issued by Dianor at the first closing are subject to a hold period expiring on January 7, 2008.

Dianor is an innovative exploration company focused on advancing diamond exploration properties in Canada. The Leadbetter Diamond Project is its most advanced project and is located 12 kilometres north east of Wawa in Northern Ontario. It is a unique diamond deposit that in addition to diamonds it contains gold, sapphires and rubies (press release January 18th 2007). It is also the oldest in the world being dated at 2.697 billion years old (press release April 4th 2007).

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

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