posted November 04, 2003 00:54            

An additional 18 diamonds were recovered from a 24 kilogram sample which was combined from two samples to form composite sample V2. Four of the 18 stones recovered (22%) are macrodiamonds with at least one dimension measuring more than 0.5mm.

The Vega kimberlite is located 1.8 kilometres northwest of the Snow Bunting kimberlite (see news release #03-37, Oct.15, 2003) along the southeast portion of the Galaxy Kimberlite Structure. These results are from the 2003 exploration program on the Blue Ice Project which was jointly funded by Diamonds North and Teck Cominco Ltd.

-------------------------------------------------------------------- DIAMONDS RECOVERED ------------------------------------------------ +0.5 mm +1.0 mmSample Weight Total --------------------------------------# (Kg) Diamonds 1 Axis 2 Axis 3 Axes 1 Axis 2 Axes--------------------------------------------------------------------V1 44.6 78 9 3 2 1 0--------------------------------------------------------------------V2 24.0 18 4 2 0 0 0--------------------------------------------------------------------Total 68.6 96 13 5 2 1 0--------------------------------------------------------------------The largest stones from the two Vega samples have the followingdimensions.-------------------------------------------- Largest stones (mm) --------------------------------Sample X Y Z---------------------------------------------V1 1.00 0.74 0.56---------------------------------------------V1 0.86 0.80 0.77---------------------------------------------V1 0.77 0.60 0.44---------------------------------------------V2 0.77 0.77 0.45---------------------------------------------V2 0.77 0.68 0.30---------------------------------------------
Full Square Mesh Sieve diamond results for composite samples V1 and V2 are presented below. These results demonstrate the presence of larger stones and a favorable diamond size distribution at Vega from modest sized samples. The diamond distribution indicates that the Vega portion of the Galaxy Kimberlite Structure has economic diamond potential which can be demonstrated by the collection of a much larger sample.

----------------------------------------------------- Sieve Sizes------------------------------------------------------------------------ SampleKimberlite Wt +0.600 +0.425 +0.300 +0.212 +0.150 +0.100 (Kg) mm mm mm mm mm mm TOTAL------------------------------------------------------------------------V1 44.6 1 2 6 16 23 30 78------------------------------------------------------------------------V2 24.0 0 1 2 5 7 3 18------------------------------------------------------------------------Total 68.6 1 3 8 21 30 33 96------------------------------------------------------------------------
The 2003 results from Vega show consistent high diamond counts and very high macro/micro ratios along the Galaxy Structure and reveal that the collection of a larger sample has resulted in an increased stone count when compared with the 2002 diamond results for Vega in which 22(i) diamonds were returned from a 22 kilogram sample in drill hole BI-02-01. (i)(Original reporting stated 20 stones in 22 kilograms; subsequent re-picking of the sample resulted in the recovery of 2 additional stones.)

The Vega kimberlite is represented by a one kilometre long, 50-125 metre wide linear magnetic low which connects with Sandpiper kimberlite on its eastern end and forms part of the 2.7 kilometre long diamondiferous southeast portion of the Galaxy Kimberlite Structure.

Drill hole BI-03-08 was drilled to a depth of 140.21 metres at -70, oblique at 30 to the azimuth of the kimberlite structure to obtain a larger volume of sample. Dyke V1, which measures 3.18 metres (true thickness) was intersected 11 metres north of Dyke V2 (1.65 metres true width). Both dykes are described as olivine macrocrystic hypabyssal kimberlite dykes containing mantle derived indicator minerals. A 5.29 metre (true width) kimberlite breccia in contact with the southern margin of Dyke V1 was also encountered. This unit was not sampled due to high dilution of country rock and the irregular, random orientation of the kimberlite intervals throughout the section.

Eight other kimberlite dykes (six located up section of V1/V2 and 2 situated between the two main dykes) ranging in true widths from 0.01 to 0.45 metres were also cored in drill hole BI-03-08. Composite and individual samples were collected from these dykes for comparative purposes. One sample (1.96 kilograms) taken from an individual dyke returned one diamond that remained on the +0.212 mesh while another stone, recovered from a 13.38 kilogram sample, remained on the +0.100 mesh.

The color and clarity of the diamonds recovered from the 2003 Vega samples are summarized below for samples V1 and V2.

Vega 1 No. % % %Color stones Transparent Translucent Opaque---------------------------------------------------------------All Stones 78 78% 19% 3%---------------------------------------------------------------White 63 79% 21% 0%Off White 7 71% 0% 29%Yellow 7 86% 14% 0%Brown 1 0% 2% 0%Vega 2 No. % % %Color stones Transparent Translucent Opaque---------------------------------------------------------------All Stones 18 94% 6% 0%---------------------------------------------------------------White 11 100% 0% 0%Yellow 3 75% 25% 0%Off White 2 100% 0% 0%Pink 1 100% 0% 0%
Kimberlite samples were split and logged in secure facilities at the field camp by qualified geoscientists. Samples were securely sealed in solid containers and shipped by air to SGS Lakefield in Ontario. SGS Lakefield's standard caustic fusion diamond recovery method was utilized for all samples. SGS Lakefield is accredited by the Standards Council of Canada to the ISO 17025 standard for specific registered tests.

Diamonds North Resources Ltd. is a diamond exploration company with ten projects covering two million acres of land in Canada's Nunavut and Northwest Territories. Eight projects are located on Victoria Island and two projects are adjacent to the De Beers/Mountain Province Kennady Lake advanced stage discovery.

On behalf of Diamonds North Resources Ltd.

Bernard Kahlert P.Eng., Vice-President, Exploration

Diamonds North Resources Ltd. Nancy Curry Corporate Communications (604) 689-2010 (604) 685-2814 (FAX) Email: info@diamondsnorthresources.com Website: www.diamondsnorthresources.com

NEWS RELEASE TRANSMITTED BY CCNMatthews The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

posted November 13, 2003 00:50            

quote:

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Originally posted by MacSusan:
Micro,
You have been doing well with DDN. $1.15 todays close. I didn't have any trading cash to join you on this one when I wanted to but I'll cheer for you. Go DDN!

S.

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