Dianor Resources Inc.

Dianor Resources Inc.

October 20, 2006 10:43 ET

Dianor Resources Welcomes Sale of Shares Held by Trustee-in-Bankruptcy for Vincent Lacroix

VAL D'OR, QUEBEC--(CCNMatthews - Oct. 20, 2006) - Dianor Resources Inc. (TSX VENTURE:DOR) has taken note of the sale today on the TSX Venture Exchange of 15 million common shares of Dianor by Ernst & Young Inc., the trustee for the bankruptcy of Mr. Vincent Lacroix, at a price of $0.80 per share.

"We welcome this development", said John Ryder, Dianor's President. "We believe that the sale of these shares is in the best interests of Dianor's shareholders."

Ernst & Young Inc. announced that following the sale, it continues to hold 5,594,100 common shares and 5,000,000 warrants of Dianor. There are approximately 125 million common shares of Dianor issued and outstanding. Ernst & Young Inc. also announced that it will exercise the warrants and has committed not to sell its remaining securities of Dianor until December 31, 2007 without the prior consent of Westwind Partners Inc. The 5,000,000 Dianor warrants have an exercise price of $0.75 per share and expire on October 27, 2006.

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.

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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