Pangolin Diamonds Corp.
TSX VENTURE : PAN

Pangolin Diamonds Corp.

January 31, 2018 07:00 ET

Pangolin to Drill Multiple Kimberlite Pipe Targets at Malatswae and Moenyenana Diamond Projects, Botswana

- Drilling results expected before the end of Q2.

- At least 5 kimberlite pipe targets to be drilled and more being developed.

- All but one target has positive kimberlitic indicators recovered at surface including two with diamonds.

- 25 diamonds have been recovered from soil samples at Malatswae (sizes greater than 0.5mm and less than 4mm).

- Biggest diamond measures 4mm x 3mm x 2mm and has good colour.

- The drill programme is fully funded.

TORONTO, ONTARIO--(Marketwired - Jan. 31, 2018) - Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is pleased to announce a drill program at the Company's wholly-owned Malatswae and Moenyenana Diamond Projects. Drill results are expected to be announced by the end of the second quarter once analyzed and confirmed by a qualified laboratory. The drill programme is fully funded.

Pangolin has been working on developing new drill targets at these projects for the past 8 months. Work included the collection of over 2,400 soil samples that averaged 60 litres in size, as well as processing them through the Company's DMS plant and extensive ground magnetic and VLF (very low frequency) surveys.

Dr. Chris Jennings assisted the Company's management with the process of identifying new pipe targets. He purchased a 1.3 % royalty from the Company in May, 2017. Dr. Jennings' and his exploration teams diamond mine discoveries include Diavik in Canada, Gaghoo in Botswana, Klipspringer and Marsfontein in South Africa.

Malatswae Diamond Project

Malatswae consists of 1,836 square kilometres, and is located roughly 60km southeast of the prolific Orapa Diamond Fields. A total of 25 diamonds have been recovered from soil samples, with the largest measuring 4mm x 3mm x 2mm, with good colour. Over 750 kimberlitic indicator minerals, including G10 garnets and ilmenites, have been collected. Soil sampling, ground magnetics and analysis is ongoing.

The Moenyenana Diamond Project

Moenyenana consists of 5,061 square kilometres, and is located between Pangolin's Malatswae and Motloutse Diamond Projects. An extensive soil sampling and ground magnetics program continues.

The Chairman, Mr. Gareth Penny stated, "We are extremely encouraged by the team's hard work in identifying these targets and look forward to a successful 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.

About Pangolin Diamonds Corp. and Our Social Connections

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

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