======================================================================
Ontario Exploration Update
======================================================================

Vancouver, B.C. -- Diamondex Resources Ltd. (DSP-TSX.V) ("Diamondex")
is pleased to provide an exploration update on its Ontario diamond
projects. (See www.diamondex.net for project locations).

Viking Project, Ontario

The 100% owned Viking property is located in an area of the Superior
Craton in northwestern Ontario, approximately 60 km east of the town of
Nakina. The 2004 sampling program recovered abundant kimberlite
indicator minerals (KIMs), many with primary surface textures
indicating very short glacial transport distances (possibly less than
10km) from their sources. The indicator minerals recovered from the
area include G10 gargets, eclogitic garnets, picroilmenties, chromites
and chrome diopsides. Subsequent sampling in 2005 established the
up-ice cut-off of the KIM source areas.

Diamondex field crews have commenced the collection of 800 follow up
till samples. The sample sites are accessible from logging roads and
the program is designed to further define the indicator mineral
sources. The results of this program will be integrated with the
previously flown high resolution airborne magnetic data to define
targets for future drilling programs. The proposed expenditure under
this program is estimated to be $600,000. A total of $478,500 has been
expended on the project to date.

Weiland Project, Ontario

The Weiland project is located in the Kyle Lake kimberlite cluster area
of the James Bay Lowlands of Ontario, approximately 120 kilometres west
of De Beers' Victor kimberlite pipe, which is known for its high
quality diamonds. The Kyle Lake kimberlites are widely spaced over a
3,600 square-kilometre area, suggesting excellent potential for the
discovery of additional kimberlites. The property is held in a 40:60
joint venture with De Beers Canada Inc, with Diamondex the operator of
the project.

A 23,000 line-kilometre low-level, high resolution airborne magnetic
survey was flown over a portion of the project area in early 2006. The
airborne survey results led to the identification and staking of 41
kimberlite targets. In the first quarter of 2007, the surveyed area at
Weiland was expanded through the collection of an additional 33,500
line kilometres of airborne magnetic data. Subsequent interpretation of
the airborne data led to the staking of 59 additional kimberlite
targets in the first and second quarters of 2007.

Preparations are underway for the upcoming winter drilling program. Two
proprietary light-weight reverse circulation drills have been
contracted to carry out this program. An aggressive program and budget
to drill test several of the staked targets is planned for submission
to the joint venture's management committee for approval. It is
anticipated that the drilling will commence in late February, 2008.

This press release has been reviewed and approved by Raymond Ashley,
P.Geoph, a Qualified Person under National Instrument 43-101, and an
officer of Diamondex.

Diamondex also announces the granting of incentive stock options to
officers, employees and/or consultants to purchase up to 1,500,000
common shares under the Company's Incentive Stock Option Plan. The
options will be granted for a period of five (5) years, commencing on
October 1, 2007, exercisable at a price of $0.30 per share.

DIAMONDEX RESOURCES LTD.

"Randy C. Turner"

Randy C. Turner, President

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

P.O. Box 11584, 1410 - 650 West Georgia Street, Vancouver, British
Columbia V6B 4N8 Telephone: 604-687-6644 Facsimile: 604-687-1448
E-Mail: diamonds@diamondex.net

======================================================================
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
======================================================================
.