Mr. Dean Taylor reports

DIAMCOR ACHIEVES USD $218.82 PER CARAT IN NOVEMBER TENDER, DELIVERS ADDITIONAL ROUGH DIAMONDS FOR DECEMBER TENDER

Diamcor Mining Inc. has released the results of the tender and sale of 2,979.67 carats of rough diamonds recovered from resumed processing exercises at the company's Krone-Endora at Venetia project. The 2,979.67 carats tendered were sold for gross proceeds of $653,652.23 (U.S.), resulting in an average price of $218.82 (U.S.) per carat. Most of the material processed consisted of smaller-sized fractions, in addition to a low percentage of larger, higher-grade stockpiled basal material processed in conjunction with the initial incorporation of processing of all-size fractions through the project's recently refined crushing circuit. An additional 2,312.82 carats of rough diamonds (prior to acid wash) were also delivered prior to the end of November, 2018, which will be offered in a final tender of the company's third quarter in December, 2018.

"We are pleased with the quality and value of the project's rough diamonds, and our efforts have shifted to increasing the volume of material being processed and the inclusion of all-size fractions up to 40 millimetres moving forward," commented Dean Taylor, chief executive officer of Diamcor Mining. "Initial processing of material in all-size fractions is meeting company expectations, and we look forward to the potential that the processing and incorporation of the larger material may have on our overall dollar per carat and the potential recovery of any larger rough diamonds."

As previously announced, revisions completed to the crushing and screening systems at the in-field screening plant were aimed at the improved liberation and removal of fines through added crushing to support increasing volumes and allow for the inclusion of all-size fractions up to 40 millimetres in the long term. An additional 30-ton-per-hour dense media separation plant was incorporated into the project's large diamond recovery circuit to provide greater efficiencies and added processing capacity; this item is now operational. The majority of material previously being processed at the project consisted of material under 15 millimetres in size, with material above that size fraction being stockpiled. Given that much of this larger material consists of calcretized balls of higher-grade basal material, the crushing, treatment and inclusion of this material in the plus-15 mm to minus-40 mm size fractions have the potential to have a positive impact on the overall size frequency distribution of the rough diamonds recovered, while also providing the company with the potential to recover any larger diamonds from the project.

About Diamcor Mining Inc.

Diamcor Mining is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI and on the OTCQB International under the symbol DMIFF. The company has a well-established operational and production history in South Africa, and extensive prior experience supplying rough diamonds to the world market.

About Krone-Endora at Venetia

In February, 2011, Diamcor acquired the Krone-Endora at Venetia project from De Beers Consolidated Mines Ltd., consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers's flagship Venetia diamond mine in South Africa. On Sept. 11, 2014, the company announced that the South African Department of Mineral Resources had granted a mining right for the Krone-Endora at Venetia project encompassing 657.71 hectares of the project's total area of 5,888 hectares. The company has also submitted an application for a mining right over the remaining areas of the project. The deposits that occur on the properties of Krone and Endora have been identified as a higher-grade alluvial basal deposit which is covered by a lower-grade upper eluvial deposit. The deposits are proposed to be the result of the direct shift (in respect to the eluvial deposit) and erosion (in respect to the alluvial deposit) of material from the higher grounds of the adjacent Venetia kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia mine.

Qualified person statement

James Hawkins (BSc, PGeo) is manager of exploration and special projects for Diamcor Mining, and the qualified person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor Mining's exploration programs, and a member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA). Mr. Hawkins has reviewed this press release and approved of its contents.

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