Patrician Diamonds Inc.

Patrician Diamonds Inc.

June 12, 2008 09:00 ET

Patrician Diamonds Recovers First Drill Core from Mackenzie District Kimberlite

OTTAWA, ONTARIO--(Marketwire - June 12, 2008) - Patrician Diamonds Inc. (TSX VENTURE:PXC)("Patrician") announces that the first phase of core drilling to test airborne magnetic targets on the Doctor Lake Project was completed at the end of May. The work was done by Cabo Pacific Drilling Corp utilizing a fly-configured Atlas Copco B-20 core drill. One hole was completed to test the Hillside Diatreme, recovering approximately 400 kilograms of kimberlite core. Samples have been sent for microdiamond analyses and results are expected by mid-summer.

The Hillside Diatreme is outlined by a seven hectare magnetic anomaly located in the central part of the project area. The drill hole in the south-central part of the anomaly collared in bedrock at 6 metres and was drilled to a depth of 130 metres. Kimberlite was intersected from the bedrock surface to 110 metres. The kimberlite is massive, medium to dark grey, with less than 10 per cent unaltered limestone xenoliths. It is interpreted to be tuffisitic kimberlite breccia from the Hillside diatreme zone. The hole terminated in massive, light grey limestone.

Three holes were drilled to evaluate magnetic targets in the central and northern parts of the project area. Depths ranged from 60 to 220 metres. The holes intersected compact, poorly-lithified mudstone. Overlying glacial till varies in thickness from 18 metres to 30 metres. The mudstone is medium brownish grey in colour, massive and non-bedded. None of the material recovered in the drill holes appears to be magnetic and the causes of the magnetic anomalies are unexplained at this time. Other magnetic targets in the central and southern parts of the project area have yet to be drill tested and may be priorities for additional field work.

Management is pleased with results from the Company's first large core sampling of kimberlite at Hillside. Data from this phase of drilling will be evaluated by Patrician's technical team to determine the next stage of follow-up work on the project. Work is also being planned for the Company's other projects where previous surveys have located diamonds in river gravels and kimberlite float. Defining bedrock sources of these diamonds will be a priority for the Company during the summer field season.

Mr. C. Stewart Wallis, P. Geo., the qualified person for Patrician under National Policy 43-101 has reviewed the technical information in this release.

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"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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