Nordic Diamonds Ltd.

Nordic Diamonds Ltd.

December 04, 2006 09:00 ET

Nordic Diamonds Ltd.: Drilling Program to Commence on Solvbacktjarn Uranium Project, Sweden

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 4, 2006) - Nordic Diamonds Ltd. (TSX VENTURE:NDL), (the "Company" or "Nordic") wishes to announce that a drilling contract has been signed with Soumen Malmi Oy, of Espoo Finland to undertake a drilling program on the Company's 100% owned Solvbacktjarn Uranium Project in Sweden. The property is located in north central Sweden approximately 400 kilometers north northwest from Stockholm.

The core drilling program will commence this week and calls for the testing of twelve geophysical targets totaling approximately 960 meters. The Solvbacktjarn prospect is located 8 kilometers southeast of the Company's Bottenbacken property and the claim covers an area of 900 hectares.

Uranium bearing boulders were first found on this property in 1973, and subsequent prospecting found 49 boulders in total. The mineralized boulders are layered calcareous quartzitic rocks, and during the first phase of prospecting, the Swedish geological Survey ("SGU") reported that one boulder contained a 4 cm wide quartz mylonite copper-uranium vein assaying 17% U and 5% Cu.

The SGU conducted geophysical and radon surveys and drill tested permissive zones in 1975. Drilling confirmed the presence of widespread erratic uranium mineralization coincident with calcareous quartzitic rocks. All drill holes were logged using pulse gamma methods and the most significant result recorded was 2.02% uranium over 1.55 meters.

The Company cautions that all radiometric readings mentioned are historical in nature. The Company's qualified person has tested drill core samples from the Solvbacktjarn claim and verified that anomalous radiation levels are present in SGU drill core samples; however absolute readings provided by the SGU could not be verified by the Company's qualified person and should not be relied upon.

During the summer of 2006, the Company contracted the services of consulting geologist Jim Cuttle, P. Geo. to undertake an examination of the Solvbacktjarn property during which time numerous mineralized float boulders were discovered and several were submitted for multi-element ICP analysis to Acme Analytical Labs Ltd. in Vancouver. Three boulders were found to contain significant values in uranium, copper and silver. One boulder contains 0.45% U3O8, 0.30% Cu, 5g/t Ag, a second boulder contains 0.35% U3O8, 0.20% Cu, 2g/t Ag, and the third boulder contains 0.03% U3O8, 6.72% Cu, and 992 g/t Ag.

Management is of the opinion that with the growing demand for clean forms of energy and the commitment of nations to reduce green house emissions, that nuclear power will be the answer to surging world energy requirements and uranium will be a commodity of significant demand. 1% uranium is equivalent to 20 pounds and the current market price for a pound of uranium is US$63.

Walter Melnyk, P.Eng., President of Nordic Diamonds Ltd., is a Qualified Person as identified by NI 43-101 and is responsible for the design, implementation and quality control of the Company's exploration programs.



Alvin Jackson, P. Geo., Chairman and CEO

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