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# Wed Dec 14, 2005
Diamonds North Completes $4,500,000 Equity Financing

  VANCOUVER, December 14, 2005 -- Diamonds North Resources Ltd. (DDN-TSX Venture) announces that the brokered private placement announced December 7th, 2005 has been completed. A total of 2,577,500 flow-through common shares at a purchase price of $0.97 per share and 2,439,300 Units at a purchase price of $0.82 per Unit have been issued. Each Unit consists of one common share and one-half of one share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one common share at a price of $0.95 per common share until December 13, 2006.

Loewen, Ondaatje, McCutcheon Limited, (the "Agent") has been issued Agents' Warrants entitling them to purchase up to 351,176 common shares at a price of $0.95 per share until December 13, 2006. The Agent also received commission equal to 6% of the gross proceeds.

All the securities are subject to a hold period and may not be traded until April 14, 2006.

Diamonds North is a dynamic successful exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.

On behalf of Diamonds North Resources Ltd.

Mark Kolebaba
President & CEO

For further information, please contact:
Corporate Communications: Nancy Curry
Diamonds North Resources Ltd.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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