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DIAMCOR ANNOUNCES ROUGH DIAMOND TENDER RESULTS AND OPERATIONAL PROGRESS UPDATE Diamcor Mining Inc. is pleased to announce the results of its second tender and sale of rough diamonds from the processing of material in the +1.0mm to -45.0mm size fractions through the newly expanded facilities at the Company’s Krone-Endora at Venetia Project (the “Project”). In this second tender of the current quarter, the Company sold 3,265.07 carats of rough diamonds for gross proceeds of USD $702,635.70, resulting in an average price of USD $215.20 per carat. The tender included the sale of three rough diamonds in the specials category (+10.8 carats): a 12.80 carat, a 12.89 carat gem quality, and a 13.51 carat rough diamond. The Company previously announced on April 10, 2017, an initial tender and sale of 2,900.62 carats of rough diamonds from the newly expanded facilities, which generated gross proceeds of USD $810,106.26, resulting in an average price of USD $279.29 per carat. That tender included the sale of four rough diamonds in the specials category (+10.8 carats), all of which were gem quality: a 12.13 carat, a 15.46 carat, a 17.97 carat, and a 29.1 carat. This brings the total rough diamonds tendered and sold from processing through the newly expanded facilities to 6,165.69 carats, with seven individual rough diamonds being in the specials category (+10.8 carats), generating gross proceeds of USD $1,512,741.96 and resulting in an average price of USD $245.35 per carat. The Company plans to complete a third tender and sale prior to the end of the current quarter. “We’re very pleased with the results of these initial tenders and sales of rough diamonds from our newly expanded facilities, especially at a time when many operators are experiencing lower than expected results due to continued weakness in rough diamond prices”, noted Diamcor’s CEO Mr. Dean Taylor. “The results are very encouraging, and given they are from the initial processing of material at a time when the new components are being calibrated and refined, they certainly point to the potential benefits that the crushing and treatment of material up to 45.0mm through these new facilities have when compared to previous tenders and sales of material processed through the previous facilities in the +1.0mm to -15.0mm size fractions”, adds Mr. Taylor. Operational Update The combined testing, commissioning, and calibration exercises currently underway are designed to support the continued advancement of objectives consistent with the recommendations of the updated NI 43-101 Technical Report (“Updated Technical Report”) filed by the Company on April 28, 2015, and to aid the Company in arriving at initial production decisions for the Project. The recovery of all rough diamonds to date are incidental to the ongoing commissioning and testing exercises performed at the Project. The above-noted testing exercises and incidental recoveries do not form part of the Updated Technical Report and therefore no general grade, price, or quality determination is intended by the Company at this time due to the nature and purpose of the processing of this material
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