Pangolin Diamonds Corp.
TSX VENTURE : PAN

Pangolin Diamonds Corp.

July 26, 2016 10:30 ET

Pangolin Begins Drilling Kimberlite Targets at Motloutse Diamond Project, Botswana

- The drilling of five kimberlite targets to commence July 27, 2016

- The area covers where the first diamonds in Botswana were recovered in 1959; their sources have never been discovered

- Kimberlite targets include AGA-01 and MG-08 as previously announced

- Malatswae Diamond Project will be drilled in the second half of 2016 with funds currently in the Company's treasury

TORONTO, ONTARIO--(Marketwired - July 26, 2016) - Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is pleased to provide an update for the Company's wholly-owned Motloutse Diamond Project ("Motloutse"), located 150 km east of the Orapa Diamond Mine in Botswana. A percussion drill programme will commence on July 27th and is anticipated to be completed within the next two weeks. Results from the drill programme will be announced once all material submitted to laboratories in Canada have been analyzed.

The kimberlite targets are inclusive of AGA-01, an aeromagnetic and gravity anomaly associated with positive sub-angular kimberlite indicator minerals recovered at surface and MG-08 with an anomalous concentration of positive kimberlite indicator minerals recovered at surface, as both previously announced respectively (see releases May 31, 2016 and June 13, 2016).

The Motloutse Diamond Project covers the area where the first diamonds in Botswana were recovered in 1959. It also includes the location where De Beers discovered its first diamonds in Botswana in 1962. The kimberlite source(s) of these diamonds have never been located.

Malatswae Diamond Project Update

The Company's wholly-owned Malatswae Diamond Project ("Malatswae"), where 13 diamonds have been recovered at surface, and located 105 km southeast of the Karowe Diamond Mine of Lucara Diamonds in Botswana is scheduled to be drilled in the second half of 2016. The Company's treasury is fully funded and in the budget to complete this drill program.

Quality Control and Quality Assurances

Quality assurance procedures, security, transport, storage, and processing protocols conform to chain of custody requirements.

The technical disclosure in this news release has been reviewed and approved by Dr. Leon Daniels, BSc., BSc. Honours Geology, PhD and a Qualified Person as defined by National Instrument 43-101.

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For more information on Pangolin Diamonds Corp., please visit our website at http://pangolindiamonds.com.

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