News Releases 2011 - Wednesday, July 06, 2011Diamonds North Closes Financing
VANCOUVER, July 6, 2011 - Diamonds North Resources Ltd. (TSX-V: DDN)reports that the non-brokered private placement announced on June 22,2011 has closed for gross proceeds of $750,000. The Company has issued4,687,500 flow-through common shares and paid fees of $32,500 inconnection with the financing. The securities issued hereunder aresubject to a four month hold period and may not be traded untilNovember 5, 2011. The recently announced Esker Gold Property (see June 3, 2011 newsrelease) which covers several kilometres of gold bearing stratigraphywill be a priority for exploration in 2011. Multiple drill holesintercepted gold mineralization as high as 8.2 g/T gold over 13 metres,including 17.7 g/T gold over 5.7 metres; and, 2.4 g/T gold over 71metres which includes several high grade zones. For a videopresentation on this project visit our website www.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 March 24, 2011 news release).Diamonds North has adopted the use of this innovative electromagnetic(EM) geophysical method that is interpreted to penetrate the conductiveoverburden cover in the region. This targeting has led to theidentification of sizable kimberlite targets (greater than 400 metresin diameter) with kimberlite indicator mineral support.
