Dianor Resources Inc.

Dianor Resources Inc.

July 31, 2006 12:32 ET

Dianor Resources Inc.: : 2,066 Commercial Sized Diamonds Including a 0.667 Carat and a 0.576 Carat Diamond Recovered from Surface Rock Samples on the Leadbetter Diamond Property

VAL-D'OR, QUEBEC--(CCNMatthews - July 31, 2006) - 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) is pleased to inform its shareholders that it has received preliminary DMS ("Dense Media Separation") diamond results from SGS Lakefield Research for an additional 45 of the 105 "6 tonne" samples excavated on the Leadbetter Diamond Property. Diamond selection from the remaining sample concentrates is continuing and the results will be released when received from SGS Lakefield. Diamond results for the first three samples were previously reported in April (press release April 28(th) 2006).

The sampling program was undertaken in late 2005 and was designed to establish continuity of diamonds in the conglomerates throughout the surface bedrock exposures and between the drill holes (200m x100m drillhole spacing) in the Northern and Central Sectors of the Leadbetter Diamond Property. Sample sites were located at 25 to 30 metre centers on surface rock outcrops. Current diamond results from the Leadbetter Conglomerate reported below were recovered from two categories of material found on surface: fresh, competent bedrock that was drilled and blasted prior to excavation and weathered incompetent bedrock that was directly excavated.

32 of the 45 samples were taken from the Leadbetter Conglomerate and contained 1,984 commercial sized diamonds (greater than 0.85 millimetres in size) weighing 46.61 carats in 164.4 tonnes of bedrock. The remaining 13 samples representing dykes, metasediments, and volcanic rocks near contact zones and altered conglomerates near shear zones totaled 66.05 tonnes and contained 82 commercial sized diamonds weighing 1.754 carats.

The largest diamond was recovered from sample MBP 101 located in the Northern Sector. The stone weighed 0.667 carats with dimensions of 5.22mm x 4.33mm x 3.03mm and was described as a fragment with crystal faces exhibiting 85% preservation. The next largest diamond was recovered from sample MBP 184 in the Central Sector. This stone weighed 0.576 carats with dimensions of 5.56mm x 3.99mm x 3.48mm and was described as an octahedral fragment exhibiting 99% preservation. In addition, diamonds weighing 0.454, 0.386, 0.347 and 0.306 carats were recovered from pits 112, 148, 401 and 136 in the Northern Sector whilst diamonds weighing 0.296 and 0.285 carats were recovered from pits 165 and 161 in the Central Sector. Overall, the majority of the diamonds from the 32 samples consist of white to off-white, transparent to translucent crystal shapes exhibiting a high degree of preservation (85 to 99+ %). Coloured stones constitute approximately 10% to 15% of the population and consist of grey, yellow, brown, pink and green diamonds.

Summary of Results from the Leadbetter Conglomerate Samples

Sample/ Property Dry Wt Total Carats
Pit No. Sector Kg Diamonds Total
101 North 4819 56 1.785
107 North 4870 37 0.637
112 North 4261 23 1.003
114 North 4857 80 1.667
115 North 5344 91 1.714
118 North 5394 101 2.067
119 North 4897 29 0.560
124 North 3306 30 0.527
126 North 4990 55 0.817
127 North 5384 100 2.055
129 North 4976 45 1.109
130 North 5260 46 0.984
132 North 4373 37 0.728
133 North 5309 70 1.129
136 North 4012 21 3.270
138 North 6374 46 1.402
140 North 4658 59 1.108
141 North 5949 110 2.186
143 North 5126 55 1.541
144 North 5943 49 1.146
147 North 4681 71 1.515
148 North 5298 85 2.858
150 North 5175 62 1.518
160 Central 5533 24 0.586
161 Central 5556 130 3.390
165 Central 5391 90 2.100
171 Central 5577 22 0.885
172 Central 5554 21 0.580
179 Central 4501 31 0.624
184 Central 6001 27 0.980
191 Central 4702 34 0.815
(ii)401 North 6360 147 3.324
32 Samples Total 164,431 (i)1,984 46.610

(i) Only diamonds greater than 0.85mm recovered

(ii) 401 re-sample of site 301 diamond results reported in April
28(th) press release

In order to determine the appropriate bedrock sample size for grade estimation (based on the diamond results obtained to--date from the various "6 tonne" samples) an additional sample (MBP 401) was taken from the site of the original Pit 1 sample (press release of September 13, 2005) and which was sampled previously (MBP 301) with results reported in the spring (press release of April 28, 2006). The purpose of this work is to determine the variance in diamond content of similar sized samples taken at the same place and therefore deduce the appropriate sample size for grade estimation purposes. Recovery of diamonds using caustic fusion will be undertaken as part of this study in order to determine the relationship between populations of small diamonds and those diamonds having commercial characteristics. The results of this work will be used to effectively evaluate the drill data in planning for larger samples.

In order to demonstrate that the diamonds occur in the matrix of the Leadbetter Conglomerate a series of additional samples weighing 22 to 28 kilograms were taken from sample sites 301 (Pit #1), 302 (Pit #4), and 303 (Pit #8) and caustically fused. For each sample, friable and weathered material excavated from the pits was passed through a 10 millimetre square mesh screen and processed as a separate sample whilst the oversize material consisting of cobble-sized clasts was processed as a second sample from each of the sites. The results indicate that the matrix of the conglomerate is enriched in diamond relative to clasts contained in the conglomerate. The enrichment is in the order of 5 diamonds to 1 for matrix material. Diamond results for the matrix material ranged from 1.6 to 2.12 carats/tonne compared to 0.14 to 0.20 carats/tonne for the coarse clasts material. The results clearly demonstrate that diamonds reside primarily in the matrix (and are also supported by independent work conducted by Dr. Allan Miller, P Geo on diamonds recovered still attached to rock) and that it is possible to make a relatively high-grade diamond concentrate from the weathered portions of the Leadbetter deposit by screening out the clasts. Studies to determine whether similar upgrading of the unweathered conglomerate will be undertaken.

Exploration of the Leadbetter Diamond Property will continue to involve the surface sampling of the conglomeratic horizon in those areas of the Central Sector not previously sampled as well as in the South Sector. Replicate samples will be taken from selected sites in order to determine the size of sample needed to give appropriate confidence limits for grade estimates. Drilling will continue to delineate the lateral and down-dip extent of the diamond-bearing unit. Once the drilling and surface sampling have been completed to the satisfaction of management and all results have been evaluated, planning will commence for the collection of samples large enough to procure parcels of diamonds having commercial characteristics that can be used for valuation purposes.

Carl G. Verley, P.Geo is the Qualified Person responsible for the technical contents of this press release.

Dianor is an innovative exploration company focused on diamond exploration. The Company has entered into option/joint ventures in Quebec and Ontario with numerous exploration companies to explore for and discover diamond deposits.

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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