$500,000 Non-Brokered Private Placement
VANCOUVER, December 13, 2004 - Diamonds North Resources Ltd. (DDN-TSX Venture) is arranging a non-brokered private placement of up to 500,000 flow-through shares at a price of $1.00 per share.
Finder's fees of 6% of the gross proceeds may be payable in cash and 7% of the gross proceeds in finder's options on a portion of this placement.
The securities will be subject to a hold period of four months from the closing date. The proceeds shall be used for the continuing development of the Company's diamond projects in Nunavut and Northwest Territories, Canada.
This financing is subject to acceptance by the TSX Venture Exchange.
Diamonds North is a dynamic exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba
President
For further information, please contact:
Corporate Communications: Nancy Curry
Diamonds North Resources Ltd.
Telephone:
Facsimile:
Website: diamondsnorthresources.com
Email:
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.