Uranium North and Diamonds North to Evaluate Gold Potential of the Alder Mine in Washington State

Diamonds North Resources Ltd. (TSX VENTURE:DDN) and Uranium North Resources
Corp. (TSX VENTURE:UNR) ("the Companies") announce that their wholly owned U.S.
subsidiary Minerals North LLC has signed a lease agreement on the privately
owned Alder Mine project in Okanogan County, Washington State. In addition to
the lease agreement, 13 unpatented lode claims have been staked on surrounding
federal land. 


An initial exploration program is underway and will include detailed mapping,
geophysical surveying and prospecting. Detailed mapping of the open pit
exposures will attempt to identify any zones of high grade gold within the known
deposit, geophysical surveying to test the limits of the known deposit and
prospecting the property surrounding the mine to identify other zones of
mineralization. 


The Alder Mine, currently inactive, is a base metal deposit with strong gold and
silver credits that was mined from the late 1930's to the 1950's. During a
preliminary property investigation by Minerals North, eight random grab samples
were collected from the surface of an open pit. Several high gold values were
obtained. See Table 1 below.




Table 1:                                                                    
                                                                            
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                                                  Silver                    
Sample                      Gold g/t                 g/t            Copper %
----------------------------------------------------------------------------
1                              102.0                36.3               1.24%
----------------------------------------------------------------------------
2                              12.65                37.3               1.71%
----------------------------------------------------------------------------
3                               2.35                6.38               0.31%
----------------------------------------------------------------------------
4                               2.21                4.27               0.15%
----------------------------------------------------------------------------
5                               1.02                1.36               0.05%
----------------------------------------------------------------------------
6                               0.90                4.06               0.08%
----------------------------------------------------------------------------
7                               0.51                1.35               0.06%
----------------------------------------------------------------------------
8                               0.31                0.74               0.06%
----------------------------------------------------------------------------



"Historically, the bulk of the value mined at the Alder deposit was attributed
to the base metal content with significant precious metal credits. Our
preliminary sampling returned high gold/silver values and with today's precious
metal prices, we think Alder has potential as a stand-alone gold deposit. Our
initial program will focus on the open pit exposures in an attempt to identify
any significantly wide zones and structures with high gold/silver content," says
Mark Kolebaba, President and CEO of Uranium North and Diamonds North Resources. 


Historic shipping records for 62,700 tonnes of ore from the Alder Mine produced
an average of 6.85 g/t gold, 5.49 g/t silver, and 0.78% copper. Records from an
additional 15,800 tonnes of ore yielded on average 2.64 g/t gold, 15.43 g/t
silver, 1.87% zinc and 0.11% lead. This provides information on average grades
of various metals within the deposit and indicates the presence of at least two
types of ore; a high gold/copper ore and a low gold/copper ore with high zinc,
silver and minor lead. 


The terms of the lease agreement include payments of $10,000 for the first year,
$15,000 for the second year, $20,000 for the third and fourth years and $25,000
for all years beyond until the agreement terminates or Minerals North LLC
purchases the surface rights on the land. 


The surface rights on the property may be purchased for 200% of the fair market
value excluding any value attributed to mineral content on the property. A 3%
royalty on the property and a 0.5% royalty on any unpatented claims staked
within an 805 metre radius will be reserved for the property owner. Two percent
of the royalty on the private land can be purchased for $3,000,000. All lease
payments are considered advance royalty payments in the event of a royalty
buyout.


The property owner will receive a one-time bonus payment of $50,000 if more than
24,380 metres of core drilling is completed on the property. If the property
goes into production, a 0.25% royalty will be payable to a consulting geologist.
The royalty may be purchased at any time for the value of 300 ounces of gold.  


Diamonds North Resources Ltd. and Uranium North Resources Corp. have formed and
jointly own Minerals North LLC, a Nevada registered company with the objective
to explore mineral potential in Washington State. This partnership demonstrates
the Companies' commitment to increasing shareholder value while maintaining a
low cost of operation. The Companies are actively seeking joint venture partners
for our northern Canadian projects as they represent significant opportunity.


Graham Gill P.Geo and Bruce Kienlen P.Geol will be the Qualified Persons as
defined by National Instrument 43-101 reviewing the data collected and
overseeing the project. All Minerals North sample analyses were completed by ALS
Canada Ltd. The historical data is from private reports and has not been
verified by the Companies, however, it appears to have been completed under
standard best practices consistent with the time and appears to be of reasonable
quality. 


On behalf of the Board of Directors.

Mark Kolebaba, President & CEO

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. Grams per tonne are noted as g/t. All currency amounts are expressed
in U.S. dollars, unless otherwise specified.
Diamonds North Resources Ltd (TSXV:DDN)
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