Patrician Diamonds Inc.

Patrician Diamonds Inc.

March 26, 2008 10:21 ET

Patrician Diamonds Inc./Land Use Permit Issued for Proposed Diamond Drilling: Doctor Lake (Sahtu) Project

OTTAWA, ONTARIO--(Marketwire - March 26, 2008) - Patrician Diamonds Inc. (TSX VENTURE:PXC)("Patrician") is pleased to announce that the Sahtu Land and Water Board has issued a land use permit for the Company's proposed drill program near Doctor Lake in the Sahtu District of the Northwest Territories. The Permit covers a program of core drilling that will further evaluate the Hillside Kimberlite and will test other large magnetic anomalies in the vicinity of Hillside. With all the regulatory requirements now completed, preparations are underway for field work to commence. Construction of a campsite is in progress and discussions are ongoing with drill contractors. It is anticipated that drilling will be carried out during the spring season.

The Hillside Kimberlite was found in 2006 when auger drilling of a 500 metre wide circular magnetic anomaly recovered weathered kimberlite beneath two metres of till. As part of the current work, core drilling of the Hillside Kimberlite will be done to obtain larger samples of unweathered rock for microdiamond analysis. Drilling will also be done to test the other magnetic anomalies that lie along two structural corridors east and southwest of Hillside. The anomalies are circular, oval and elongate in shape and range in area from about five hectares to over 20 hectares. Several have widths in excess of 500 metres. At least six targets will be tested with a total of eight to ten holes in this phase of drilling.

As noted in a previous press release (October 18, 2007), Patrician Diamonds has concluded access and benefits agreements with the Deline Land Corporation and the Tulita District Land Corporation. The Agreements provide the framework for a strong working relationship with the Dene and Metis of Tulita, Deline and Norman Wells. The company is pleased to have the support of these local organizations and is looking forward to working with Sahtu-based companies on the proposed drill program.

"The statements in this Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not approved or disapproved of the information contained in this Press Release."

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