Nordic Diamonds Ltd.

Nordic Diamonds Ltd.

July 08, 2008 14:07 ET

Nordic Announces Option of Potash Permits on Saskatchewan-Alberta Border

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2008) - Nordic Diamonds Ltd. (TSX VENTURE:NDL) ("Nordic") announces that it has signed a option with Grizzly Diamonds Ltd. ("Grizzly") to acquire a land position in southeast Alberta for potash. The Teddybear-2 Property (the "Property") totals 50,000 acres located 50 km northeast of Medicine Hat, Alberta along the Saskatchewan border and is road accessible year round.

Previous exploration for potash in this region of Alberta was completed in the 1940-1950's. A large portion of the Property is located in close proximity to areas reported to be underlain by potash bearing beds within the uppermost portion of the Prairie Evaporite Formation. The presence of potash beds within the upper portion of the Prairie Evaporite in east-central Alberta near and along the Saskatchewan border is indicated by geological maps produced by the Alberta and Saskatchewan governments. This under explored area of Alberta is currently becoming very active for potash exploration.

In addition, the Property is located south of a reported occurrence of potash minerals in a deep well (VCO #15) in the Vermilion area of east-central Alberta. The author reporting the occurrence suggests that the potash mineral "sylvite exists in substantial quantities" "throughout the first 50 feet of the Prairie Evaporite" (Golden, B.Sc., 1965) and that the potash minerals "are of the same composition and depositional sequence and depth as the potash at Unity and Saskatoon, Saskatchewan", currently the location of a number of potash mines. The reported occurrence of potash minerals is at a depth of approximately 1,061 m below surface.

Under the terms of the agreement with Grizzly, Nordic can earn into an initial undivided 51% on the following terms:

- $25,000 cash on signing

- 200,000 common shares of Nordic upon regulatory approval

- incurring a total of $2,000,000 of exploration expenditures before September 1, 2009 including one drill hole to test the Prairie Evaporite Horizon.

Nordic can elect to increase its interest in the Property to an undivided 70% interest by carrying Grizzly to a pre-feasibility study on or before September 1, 2011.

Nordic has initiated a detailed compilation with Grizzly of all historic exploration, including oil and gas drilling, and seismic data for the permits leading to a National Instrument 43-101 ("NI 43-101") technical report. All field programs are being conducted under the supervision of Michael Dufresne, P. Geol., a principal of APEX Geoscience Ltd. ("APEX") and a Qualified Person under NI 43-101.

This news release and the information contained herein has been reviewed by Michael Dufresne, P. Geol., a principal of APEX Geoscience Ltd. and a Qualified Person under NI 43-101.



Alvin Jackson, P.Geo, Chairman and CEO

Certain information presented in this release may constitute "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.

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

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