Dianor Resources Inc.

Dianor Resources Inc.

April 23, 2007 11:23 ET

Dianor Resources Inc.: Preliminary Geological Estimate of 566 Million Tonnes of Leadbetter Conglomerate Calculated Plus Another Large Diamond Recovered

VAL-D'OR, CANADA--(CCNMatthews - April 23, 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) is pleased to inform its shareholders that it has received the preliminary tonnage estimate for the diamond bearing Leadbetter Conglomerate on its Leadbetter Diamond Property located 12kms north east of the town of Wawa, Ontario. A geological estimate of 566 million tonnes has been independently calculated for the three units (S1C, S1CO and S1CV) comprising the diamond bearing Leadbetter Conglomerate. The Company has been informed by Kennecott Canada that a second large diamond, a 1.0105 carat diamond, was recovered during picking of one of the DMS concentrates from sample MBP 101 recently processed at their DMS facility in Thunder Bay, Ontario (press releases March 21st and April 18th 2007).

The 1.01 carat stone is described as medium brown in colour, intact with octahedral features. It is approximately 4.8mm in its longest dimension and sits on a 3.35mm square mesh sieve. A photo of the diamond will be available on Dianor's web site later today (www.dianor.com).

A three dimensional (3D) model of the Leadbetter diamond bearing conglomerate was constructed by Christian d'Amours P.Geo, President of Geopointcom, a consulting firm based in Val-d'Or, Quebec that specializes in 3D geological modeling and ore reserve calculations. All available geotechnical data up to December 31, 2006 was used in the (3D) model and preliminary tonnage estimate including drill hole data from the Phase I and Phase II drilling programs conducted on the Leadbetter Diamond Property since April 2005. The number of drill holes used to construct the 3D model of the Leadbetter Conglomerate was 122 representing 36,226m of drill core (see table below). The diamond drill core was logged by Dianor personnel and consultants on site at the Leadbetter project facilities and specific gravity/ density measurements was based on 850 analyses conducted on NQ drill cores at SGS Lakefield and SRC laboratories in Ontario and Saskatchewan.

Maximum Number of Total Metres
Lithological Density Tonnes Conglomerate Intersecting Drilled
Code (g/cm3) Width Drillholes (for 3D Model)
S1C 2.82 366,375,000 185.60 m 87
S1CO 2.80 100,510,000 107.37 m 31
S1CV 2.82 99,115,000 173.79 m 39
TOTAL 566,000,000 122 36,226

The preliminary tonnage estimate is not a mineral resource as there is insufficient data including diamond assays from the drilling (microdiamond sampling of drill cores) available at this time to calculate a mineral resource on the Leadbetter Conglomerate. Samples continue to be processed at a number of commercial laboratories using caustic fusion, attrition milling and dense media separation (DMS) methods of diamond extraction. The geological model will continue to be updated as diamond results become available. Based on the results of the exploration work conducted on the Leadbetter Diamond property, the conglomerate units are still open at depth to the north while the eastern and north eastern portions are faulted. However, the faulted eastern extension of the conglomerates is currently being explored on the Mori/Metalex/Dianor property approximately 2.5 kms to the NE.

Geological logging and mapping of the outcrops has differentiated the diamond bearing "Leadbetter Conglomerate" into three distinct geological units(i):

1) The S1C unit is a poorly sorted polymictic conglomerate unit without stratification and is considered the classic type "Leadbetter Conglomerate" sandwiched between the older S1CV and the younger S1CO unit.

2) The S1CV unit is also a polymictic conglomerate that displays primary sedimentary features like graded bedding and is locally intercalated with mafic volcanics. The clast component of the S1CV and S1C are similar.

3) The younger S1CO unit contains a higher percentage of rhyolitic boulders and cobbles that are rounded and angular in nature which distinguishes it from the older S1CV and S1C units.

(i)Detailed lithological descriptions will be provided in a NI43-101 technical report to be filed shortly.

To date 66 mini-bulk samples of conglomerate, approximately 5-6 tonnes each, and taken from different parts and from different units along the 1.7 km strike length of sporadically outcropping diamond bearing conglomerate have yielded a grade of 25.71 carats per hundred tonnes (cpht) (see Dianor's website posting dated January 2007).

The recent recovery of diamonds greater than one carat (press releases April 18th and April 23rd 2007) is significant in that the 1.01 carat stone was recovered from sample MBP 101 which also contained a 0.667 carat octahedron diamond and belongs to the S1CV unit. The largest diamond recovered to date, a 1.52 carat stone from sample MBP 136 in the S1C unit. In addition a 0.614 and a 0.576 carat diamond were recovered from MBP 192 and MBP184 respectively in the S1CO unit. These preliminary results appear to be indicative that larger sized diamonds are present in all three units.

This preliminary tonnage estimate and geological model will assist the Company in its goal to accumulate a diamond parcel in the 2,000-3,000 carat range which would then be sent for evaluation. Once a dollar per carat value is determined only then can the potential economics of the large formation of diamond bearing conglomerate or portions of it be determined. With this in mind, the company is currently awaiting the results from the four 60 tonne surface samples (press releases January 18th and March 21st, 2007). The results from these samples will help identify the location of a planned 10,000 tonne bulk sample.

The size of conglomerate samples collected to date for diamond content, from split drill core to the 6 tonne and 60 tonne surface samples, even the planned 1,000 tonne samples, appear miniscule when trying to accurately determine the diamond grade of such a large body of diamond bearing conglomerate. The 566,000,000 tonne calculation clearly demonstrates the necessity to take large bulk samples in the order of 10,000+ tonnes from the property.

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).

John Ryder, P.Geo is the Qualified Person responsible for the technical contents of this press release.

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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