Diamcor Mining Inc. Raising $2.6M For Krone-Endora at Venetia Project

Proceeds from the offering will be used to support the continued advancement of the company’s Krone-Endora at Venetia Project, the acquisition of additional operational items aimed at enhancing the effective treatment of larger material in the +26.0mm size fractions, and for general and administrative purposes.

Diamcor Mining Inc. is a junior diamond mining company listed on the Toronto Venture Exchange with operations in South Africa.

The company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada to purchase up to 100 percent of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis.

In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the company with financing to advance the project.

In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia diamond mine.