Diamond Exploration Inc.
TSX VENTURE : DIX

Diamond Exploration Inc.

May 27, 2009 09:45 ET

First Kimberlite Found on Diamond Exploration's Central Ontario Project

OTTAWA, ONTARIO--(Marketwire - May 27, 2009) - Diamond Exploration Inc. (TSX VENTURE:DIX) announces that it has recovered kimberlite boulders from its Bridge River project in Ontario. The boulders were found during prospecting in an area with anomalous concentrations of kimberlitic indicator minerals in river gravels. Microprobe analysis of minerals from the boulders confirmed the presence of mantle-derived pyrope garnet, picroilmenite and phlogopite.

The project is located in central Ontario, within a region where Diamond Exploration Inc. has identified kimberlitic pyropes in stream sediments. Distribution of the pyrope grains indicates there are at least three separate bedrock source areas. In two of the areas there are high proportions of chrome-rich, subcalcic ("G10") pyropes. This chemistry suggests that these "good" garnets have been eroded from potentially diamondiferous bedrock sources. In the third area, the garnets have a weaker subcalcic signature with fewer "G10" pyropes.

Company geologists undertook a short prospecting survey in November 2008 to assess the project area. Boulders of ultramafic breccia were found a few kilometres upstream of one of the anomalous stream sediment sample sites. The boulders were tentatively identified in the field as kimberlite; recent microprobe analyses have confirmed this identification. Pyrope garnets from the boulders have a weak "G10" chemical signature similar to grains recovered from the river gravels downstream of the boulders.

The results are deemed highly encouraging and provide strong support for ongoing exploration efforts. This is the first discovery of kimberlite within the project area and the Company is excited by these positive results at this very early stage of exploration. The Company is planning a summer program of prospecting and till sampling. The work will focus on delineating the bedrock source of the kimberlite boulders and identifying the sources of the "good" subcalcic pyropes within the other two areas.

Diamond Exploration Inc. is an exploration stage junior mining company focused on identification, acquisition and evaluation of diamond- prospective mineral properties in Canada. Mr. Paul W. Pitman, P. Geo, is the Qualified Person as defined by National Instrument 43-101 for this project.

For maps, technical details and additional information about the company please visit the company's website at www.diamondexplorationinc.com .

"This Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not approved or disapproved of the information contained in this Press Release."

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