News Release - Friday, June 17, 2011 Diamonds North Closes Financing
VANCOUVER, June 17, 2011 - Diamonds North Resources Ltd. (TSX-V: DDN)reports that the non-brokered private placement announced on June 10,2011 has closed for gross proceeds of $500,000. The Company has issued3,125,000 flow-through common shares and paid fees of $25,000 inconnection with the financing. The securities issued hereunder aresubject to a four month hold period and may not be traded until October15, 2011. The recently announced Esker Gold Property (see news release 11-10,June 3, 2011) which covers several kilometres of gold bearingstratigraphy will be a priority for exploration in 2011. Multipledrill holes intercepted gold mineralization as high as 8.2 g/T goldover 13 metres, including 17.7 g/T gold over 5.7 metres; and, 2.4 g/Tgold over 71 metres which includes several high grade zones. For avideo presentation on this project visit our websitewww.diamondsnorth.com. Another priority for 2011 will be the evaluation of a new generation ofkimberlite targets. It was previously reported that Diamonds North hadidentified several new kimberlite targets on the Amaruk property usingElectro-magnetic (EM) airborne data (see news release 11-05, March 24,2011). Diamonds North has adopted the use of this innovativeelectromagnetic (EM) geophysical method that is interpreted topenetrate the conductive overburden cover in the region. This targetinghas led to the identification of sizable kimberlite targets (greaterthan 400 metres in diameter) with kimberlite indicator mineral support. About Diamonds NorthDiamonds North Resources Ltd. is rapidly evolving and committed tobuilding long-term value for shareholders through ongoing discoveriesand leveraging business opportunities from our vast land holding. On behalf of Diamonds North Resources Ltd. Mark KolebabaPresident & CEO For additional information please contact: Troy Shultz Corporate Communications Diamonds North Resources Ltd. Telephone: (604) 689-2010 Facsimile: (604) 484-7143 Email: info@diamondsnorth.com Website: www.diamondsnorth.com
