MONTREAL, QUEBEC--(Marketwire - Feb. 28, 2011) - Diadem Resources Ltd. ("Diadem" or the "Corporation") (News - Market indicators) is pleased to announce it has retained Notre-Dame Capital Inc. ("NDC"), an Exempt Market Dealer registered with the Autorite des Marches Financiers (AMF) for the purpose of establishing an equity line financing.

NDC has pre-qualified Diadem to assist it to consummate an equity line financing of up to $5 million, subject to a final binding term sheet. The engagement with NDC will be for an initial period of 120 days on an exclusive basis with regards to equity line financings, which may be extended by the mutual agreement of the parties.

Aime Bertrand, Diadem's President and Chief Executive Officer, said that: "We are pleased to work with Notre-Dame Capital in establishing this proposed equity line financing. We believe that this type of financing has many advantages for Diadem, such as providing access to the working capital funds necessary to operate the Company and enabling us to raise money on an as-needed basis. This equity line financing will help us advance the Franklin Diamond Project more efficiently by providing us with the necessary cash reserves."

In conjunction with retaining NDC, Diadem will complete and file an Annual Information Form and/or a short form prospectus, as applicable.

Any financings will be subject to the final approval of the TSX Venture Exchange and applicable regulatory approval.

About Notre-Dame Capital Inc.

NDC is Canada's leading Exempt Market Dealer in providing Canadian companies with flexible and innovative Equity Line Financings. NDC has pre-qualified some 110 Canadian companies for in excess of $3.2 Billion of Equity Lines.

NDC expects this renewed and fully compliant financing mechanism will experience robust growth in Canada as Canadian CEO's and Boards fully understand the many advantages, the most noteworthy being lowering the cost of capital substantially to 10 percent or less versus an average of 36 percent in NDC's latest survey.

About Diadem Resources Ltd.

Management of Diadem is focused on acquiring near-production mining opportunities in North America, especially those related to diamonds and gold. Its principal current activity is Diamond exploration in the Franklin Bay area of the Northwest Territories. On that project Diadem operates a joint venture with its fifty percent (50%) partner Darnley Bay. Twenty potential drill targets have been identified on the Parry Peninsula, which currently constitutes the Franklin joint venture project area. Ground magnetic surveys over three of the targets have been completed in 2010. Additional surveys over another 38 targets are planned for 2011. When this is completed, Diadem will finalize its drilling program for the 2011 drilling seasons. Drilling of four targets in 2010 located three new kimberlite pipes, for a total of thirteen in this emerging district. All permits regarding the joint venture are in place for 2010 to 2012 and a proper campsite is being investigated in order to benefit both joint venture partners. Diadem recently entered into a revised joint venture arrangement with Darnley Bay Resources Limited, details of which can be found in Diadem's press release of July 9, 2010 (found under the Company's profile on SEDAR).

Additional information about Diadem Resources Ltd. may be found on its web page (www.diademresources.com) and under Diadem's profile on www.sedar.com.

Forward-Looking Statements

This press release contains certain forward-looking statements that might involve uncertainty, time frames, and/or known and unknown risks beyond the Corporation's control. Consummation of funding is dependent on successful negotiations with funding groups introduced by NDC. The Corporation's actual results, performance and achievements may differ materially from the results, performance and achievements implied by such forward-looking statements.