News Release 2011 - Thursday, May 05, 2011
Diamonds North Acquires Gold Properties with Historic Gold Valuesup to709.7g/t
VANCOUVER, May 5, 2011 - Diamonds North Resources Ltd. (TSX-V: DDN)announces the acquisition of several gold properties in SouthernNunavut through permitting and claim staking. The projects coverhistoric high grade gold occurrences that the Company believes areunder-explored. Over the next few weeks, the Company intends onproviding a brief description of the more significant properties alongwith preliminary 2011 plans. The property descriptions will beinitiated with the KL Property where assays are as high as 709.7 g/Tgold. The KL Gold Property covers at least six historic gold occurrences iniron formation and quartz veins that were identified as a result ofgeophysical targeting in the late 1980s. The most impressive showing isthe VG showing, where a total of 69 rock samples of quartz veinadjacent to an iron formation horizon yielded 39 samples with more than100 ppb of which 12 samples returned values between 1.39 to 23 g/Tgold. An additional 7 samples returned values between 33.8 to 709.7 g/T(20.7 opt) gold. Historic drill testing has only intersectedrelatively thin gold bearing zones. "There are some extremely high grade gold values on this under-exploredproperty and we think a fresh systematic approach to exploration mayprovide a great opportunity for Diamonds North. We will look beyondgeophysics and focus on the most prospective geological units" saysMark Kolebaba President and CEO of Diamonds North. Review of historic data suggests that the KL property is under-exploredand targeting was strongly biased by geophysical interpretation. Sincea high proportion of gold deposits have little to no magnetic orelectromagnetic expression another approach may be required tothoroughly evaluate the property. In 2011, Diamonds North plans toverify selected occurrences and focus on geological prospecting ratherthan targeting with geophysical data. The historical work has not been verified by the Company, however, itappears to have been completed under standard best practices consistentwith the time and appears to be of reasonable quality. Bruce Kienlen(P. Geol) and Graham Gill (P. Geo) are Diamonds North's qualifiedpersons as defined by National Instrument 43-101, reviewing thisproject.
