Mr. Dean Taylor reports

DIAMCOR RECEIVES SECTION 244 NOTICE FROM TIFFANY & CO.

Diamcor Mining Inc. has received a Section 244 (1) notice under the Bankruptcy and Insolvency Act (Canada) from Tiffany & Co. Canada, together with notice that an event of default has occurred under the company's current loan and security agreements with Tiffany. The Section 244 notice provides notice to the company that Tiffany intends to enforce its security against all of the company's present and after acquired personal property and all shares held by the company in the capital of DMI Diamonds South Africa Pty. Ltd. The Section 244 notice provides that Tiffany must give 10 days of notice of its intention to enforce a security interest prior to taking any enforcement steps. The company and Tiffany are currently exploring alternatives to the enforcement of the security.

About Diamcor Mining Inc.

Diamcor Mining is a fully reporting publicly traded Canadian diamond mining company with a well-established proven history in the mining, exploration and sale of rough diamonds. The company's primary focus is on the mining and development of its Krone-Endora at Venetia project which is co-located and directly adjacent to De Beers' Venetia diamond mine in South Africa. The Venetia diamond mine is recognized as one of the world's top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50 million tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora.

Diamcor also focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient and environmentally responsible manner. The company has a strong commitment to social responsibility, including the support of local people, communities and the environment.

We seek Safe Harbor.