Pangolin Recovers Pyrope Garnets with Near-Source Features Over a Geophysical Anomaly at Malatswae Diamond Project, Botswana

TORONTO, ONTARIO--(Marketwired - Nov. 2, 2015) - Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is pleased to announce it has recovered pyrope garnet with near-source surface features from the Company's wholly-owned Malatswae Diamond Project ("Malatswae"), located 90 km southeast of the Orapa kimberlite field in Botswana. Four samples produced over 14 pyrope garnets, with five grains in two samples. The samples are spaced from 200-400 meters apart and positioned directly over a magnetic anomaly of similar dimensions.

Samples MTI64 and MTI83 each produced five pyrope ranging from 0.4-0.8mm in maximum dimension. In sample MTI64, all of the grains exhibit irregular to well-formed trichitic pits and sinuous channels that are characteristic of chemical weathering. Three of the pyrope have weathering textures that overprint primary surfaces formed in the kimberlite magma, suggesting little to no transport. Four pyrope in sample MTI83 have primary surfaces that are overprinted by weathering textures, including fragile features that would not survive during transport. Secondary material on the MTI83 pyrope includes Mg-bearing clays that may derive from altered kimberlite. Many of the features are identical to features on pyrope from weathering profiles over kimberlites elsewhere in Botswana.

Pangolin President and CEO Dr. Leon Daniels comments, "We are excited to receive these important results for the Malatswae project. Previous sampling on the project has produced many indicators with proximal to source features including diamond. These new results are exceptional in having features that are identical to pyrope garnets directly from weathered kimberlite, with no evidence of transport. Some of the fragile textures are directly related to interaction between the kimberlite magma and the garnets. The samples were collected directly over a geophysical aeromagnetic anomaly which is a significant association. Additional surveys are underway to define the best areas for drilling, which is scheduled to occur during the current Q4."

The unscreened 100 litre samples were collected within a 50 metre radius of a GPS controlled sample site. This material was dry screened in the field to recover the +425 micron -2 millimetre size fraction. The samples were then transported to Francistown, Botswana and processed through Pangolin's 1-tph DMS plant. The entire process was conducted under the scrutiny of Mr. Miracle Muusha (MSc, MAIG, SACNASP), appointed as independent QP in Botswana. The concentrates were subsequently delivered to an independent mineral specialist in Gaborone, Botswana who sorted and recovered the indicator minerals. The indicators were delivered to MCC Geoscience Inc. (Vancouver, B.C.) for examination and the observations reported here were provided to Pangolin by MCC Geoscience. The mineral grains were submitted to CF Minerals Research Ltd. (Kelowna, B.C.) for microprobe analysis and results will be reported at a later date.

Quality Control and Quality Assurances

Quality assurance procedures, security, transport, storage, and processing protocols conform to chain of custody requirements. Grains were examined at MCC Geoscience Inc. by Tom E. McCandless, Ph.D. P.Geo. (B.C.).

The technical disclosure in this news release has been reviewed and approved by Dr. Tom McCandless, P.Geo. (B.C), independent consultant to Pangolin and a Qualified Person as defined by National Instrument 43-101.

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