Re: News Release 2011 - Wednesday, June 22, 2011Diamonds North Announces Flow-Through Financing
Not for dissemination in the United States or through U.S. newswiresVANCOUVER, June 22, 2011 - Diamonds North Resources Ltd. (TSX-V: DDN)announces a non-brokered private placement to raise up to $750,000through the sale of flow-through shares at a price of $0.16 per share,subject to TSX Venture Exchange approval. Finders' fees of 5% may be payable on a portion of the placement. Theproceeds from the private placement will be used to finance work on theCompany's exploration projects in Northern Canada. 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
