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$5,000,000 Private Placement Completed
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NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
SERVICES

Vancouver, B.C. - Diamondex Resources Ltd. (DSP-TSX.V) ("Diamondex" or
the "Company") is pleased to announce that it has closed its previously
announced non-brokered private placement financing (the "Private
Placement"). In connection with the Private Placement, Diamondex issued
a total of 19,300,000 flow-through common shares ("Flow-Through
Shares") at a price of $0.25 per Flow-Through Share and 13,300,000
units ("Units") at a price of $0.20 per Unit for aggregate gross
proceeds to Diamondex of $5,000,000. Each Unit consists of one common
share and one half of one share purchase warrant, with each whole share
purchase warrant exercisable until December 21, 2008, subject to
acceleration of the expiry date in Diamondex's option in certain
circumstances, for an additional common share of the Company at a price
of $0.25 per common share.

In connection with the sale of certain Flow-Through Shares and Units,
Diamondex paid to certain parties arm's length to Diamondex (the
"Finders") a cash finders fee in the aggregate amount of $211,273 and
issued to the Finders compensation warrants entitling the Finders to
purchase until December 21, 2008 in the aggregate up to 914,394 common
shares of Diamondex at a price of $0.25 per common share.

The net proceeds from the sale of Flow-Through Shares under the Private
Placement will be used to incur Canadian Exploration Expenses for the
purposes of the Income Tax Act (Canada). The net proceeds from the sale
of the Units under the Private Placement will be used for working
capital and general corporate purposes.

All securities issued or issuable in connection with the Private
Placement are subject to a four month hold period expiring on April 22,
2008.

The securities offered have not been and will not be registered under
the United States Act of 1933, as amended, and may not be offered or
sold in the United States or to U.S. persons in the absence of
registration or an applicable exemption from the registration
requirements.

DIAMONDEX RESOURCES LTD.

"Randy C. Turner"

Randy C. Turner, President

For further information, please contact Diamondex via telephone at
Tel: 604-687-6644 or via E-mail at diamonds@diamondex.net
Diamondex Resources Ltd., P.O. Box 11584, 1410 - 650 West Georgia
Street, Vancouver, B.C. V6B 4N8

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.

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Copyright (c) 2007 DIAMONDEX RESOURCES LTD. (DSP) All rights reserved.
For more information visit our website at http://www.diamondex.net/ or
send mailto:diamonds@diamondex.net
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