DRL.H Diadem Resources Com Npv

Diadem Resources Ltd. (TSX VENTURE:DRL.H) ("Diadem" or the "Company", "DRL")
announced today that it has entered into a purchase-sale agreement ("Definitive
Agreement") with Darnley Bay Resources Limited ("DBL") to acquire DBL's 50%
interest in the Franklin diamond project in the Parry Peninsula of the Northwest
Territories. Diadem will have exclusive rights to all diamonds in the Parry
Peninsula. 


The Project was previously explored in a joint venture between the two
companies. Consideration for the purchase will consist of 11,700,000 Diadem
common shares from treasury, the issuance of 11,700,000 warrants to purchase
common shares at the price of $0.10 per share for a period ending 30 months
after the Closing Date and DBL will retain a 2% Net Smelter Royalty ("NSR") on
the sale of diamonds and all other minerals produced from the project
properties. Diadem will have the right to purchase 1% of DBL's 2% aggregate NSR
for $1.0 million in cash.


Diadem has agreed to incur a minimum of $1,500,000 of expenditures with respect
to the Interests on or before the date which is 24 months from the date of the
Definitive Agreement. For the purposes of this Definitive Agreement expenditures
shall mean all direct and indirect expenses of or incidental to any and every
kind of work which Diadem elects to do or have done on the Interests, together
with any and all costs, fees and expenses that may be paid to obtain
feasibility, engineering or other studies or reports on or with respect to the
Interests


In the event that Diadem fails to incur the expenditures, then DBL will be
entitled to retain all other compensation paid to DBL and Diadem will offer 100%
of the interests acquired to DBL in return for a two percent (2%) net smelter
royalty from the sale of diamonds produced from the interests acquired.


This acquisition is subject to the approval of the TSX Venture Exchange, other
applicable regulatory authorities and the Inuvialuit Regional Corporation and
its affiliates.


About Diadem Resources Ltd.

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. "The acquisition of DBL's 50 % interest in this project will
provide Diadem with full ownership of one of Canada's most exciting diamond
exploration projects," stated Aime Bertrand, Diadem's President. "More than
thirty kimberlite drill targets have been identified on the Parry Peninsula
area."


Diadem currently has outstanding 50,008,848 common shares and 53,208,848 on a
fully diluted basis.


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. 


Cautionary Statement

This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address future production, reserve potential, exploration drilling,
exploitation activities and events or developments that the Company expects are
forward-looking statements. Although the Company believes the expectations
expressed in such statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or
developments may differ materially from those in the statements. There are
certain factors that could cause actual results to differ materially from those
in forward-looking statements. These include market prices, exploitation and
exploration successes, continued availability of capital and financing, and
general economic, market or business conditions. In particular, Diadem and DBL
may not complete the definitive agreement required to close the transaction or
receive the necessary regulatory approvals. Investors are cautioned that any
such statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward-looking
statements. The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws. For more
information on the Company, investors should review registered filings at
www.sedar.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Diadem Resources Ltd.
Aime Bertrand
Chairman and CEO
514-954-1010
info@diademresources.com
www.diademresources.com

Diadem Resources Com Npv (TSXV:DRL.H)
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Diadem Resources Com Npv (TSXV:DRL.H)
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