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2008 Exploration Program Completed on Ualliq
Diamond Property
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VANCOUVER, August 29, 2008 - Diamonds North Resources Ltd. (DDN: TSX.V)
and International Samuel Exploration Corp. (SAZ: TSX-V), announce the
completion of their 2008 exploration program on the Ualliq property in
the Pelly Bay
Diamond District of Nunavut. Of the 369 kimberlite
targets on the property, 54 targets were ground surveyed with
geophysics, 30 targets were prospected, and 11 targets were tested with
a percussion drill. No kimberlite was intersected and 303 targets
remain to be tested including, several targets recently identified with
ground surveying.
The Ualliq property is adjacent to the Amaruk property and is less than
20 kilometres from the highly diamondiferous Tuktu kimberlite complex
from which a mini-bulk sample was recently collected and results are
pending. Separate and discrete kimberlite indicator mineral
dispersions have been identified on the property, the sources of which
have not yet been identified. Numerous high priority targets remain
to be tested and, in addition planning for a new targeting strategy is
underway. Large scale detailed ground geophysical surveys at the head
of the indicator dispersions will provide enhanced sensitivity and
resolution for improved targeting.
Based on the presence of kimberlite indicator mineral dispersions,
mineral chemistry and the property's close proximity to the Tuktu
kimberlite complex on the Amaruk property, Diamonds North and
International Samuel remain confident that diamondiferous kimberlites
have intruded the Ualliq property.
"We have only tested 11 of the 369 targets this year. Numerous quality
targets remain to be tested and with our new targeting strategy we
believe there is excellent opportunity to discover kimberlite on
Ualliq," says Mark Kolebaba, President and CEO of Diamonds North.
Under the option agreement International Samuel is required to spend an
aggregate of $2.2 million this year and have so far expensed $2.71
million. To earn a 30% interest International Samuel is required to
spend an additional $300,000 (See News Release 06-26, August 2006).
Bruce Kienlen (P.Geol) and Graham Gill (P. Geo) are Diamonds North's
qualified persons reviewing these projects. They are responsible for
the design and conduct of the exploration programs and the verification
and quality assurance of analytical results.
ABOUT DIAMONDS NORTH
Diamonds North Resources is the dominant explorer in the Pelly Bay
region and is focused on discovering Canada's next
Diamond mine. The
Company is rapidly evolving and committed to building long-term value
through ongoing
Diamond discoveries.
ABOUT INTERNATIONAL SAMUEL
International Samuel is an active exploration company with
Diamondproperties in Nunavut and a base metals project adjacent to the recent
VMS Ventures discovery in the Flin Flon District of Manitoba.
ON BEHALF OF THE BOARDS OF DIRECTORS
Mark Kolebaba
President & CEO
Diamonds North Resources Ltd.
Conrad Swanson
President & CEO
International Samuel Exploration Ltd.
For further information, please contact:
Corporate Communications: Nancy Curry
Diamonds North Resources Ltd.
Telephone: (604) 689-2010
Toll Free: 1-866-8022010
Facsimile: (604) 484-7143
Website: www.diamondsnorth.com
Email: info@diamondsnorth.com
Investor Relations
International Samuel Exploration Corp.
Telephone: 604-718-5454
Toll Free: 1-888-500-4587
Facsimile: 604-646-2054
Website: www.internationalsamuel.com
Email: info@internationalsamuel.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Statements
in this press release, other than purely historical information,
including statements relating to the Company's future plans and
objectives or expected results, may include forward-looking statements.
Forward-looking statements are based on numerous assumptions and are
subject to all of the risks and uncertainties inherent in resource
exploration and development. As a result, actual results may vary
materially from those described in the forward-looking statements.
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Copyright (c) 2008 DIAMONDS NORTH RESOURCES LTD. (DDN) All rights
reserved. For more information visit our website at
http://www.diamondsnorth.com/ or send mailto:info@diamondsnorth.com
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