Drill Targets Identified on the Ualliq property
VANCOUVER, September 27, 2006 - Diamonds North Resources Ltd. (TSX-V: DDN) and International Samuel Exploration Corp. (TSX-V: SAZ) announce that the companies have completed an airborne magnetic survey over the eastern part of the Ualliq property located in the Pelly Bay region of Nunavut. Several targets have been identified in areas with kimberlite indicator minerals. Planning for a drill program is underway. The Ualliq property is adjacent to Diamonds North's 100% owned Amaruk project on which five kimberlites have been drilled (See release NR06-29 Sept. 20, 2006).
During the 2006 program, 327 till samples were collected from the project and submitted for processing and picking. These samples were collected on a detailed grid to follow-up existing kimberlite indicator mineral anomalies. More than 3520 line kilometers of magnetic airborne surveying have been completed on the property. Interpretation of the data is underway and any resulting targets will be selected for drilling. An additional 2870 line kilometers are expected to be completed in the next couple of weeks. Part of the area to be flown covers a large kimberlite indicator mineral anomaly demonstrating very strong up ice cut-off and good diamond potential. This area will be a focus for the project.
Mark Kolebaba, president of Diamonds North states "Two kimberlite fields have been discovered in the Pelly Bay region. We believe that the Ualliq property will deliver a third. The knowledge gained on the Amaruk property will be invaluable for targeting kimberlite on Ualliq."
The companies believe that a new kimberlite field separate from the Amaruk property exists on the property. International Samuel has an option to earn a 30 % interest in the Ualliq project which is owned 100% by Diamonds North.
Conrad Swanson, president of International Samuel states "We are excited about this project - all of the companies that have gone into the region to drill geophysical targets with indicator mineral support have discovered new kimberlites."
The Pelly Bay region of Nunavut has emerged as Canada's newest diamond district. Kimberlite occurrences on the Amaruk project have yielded very encouraging diamond counts and excellent diamond characteristics (see News Release NR06-13, May 9th, 2006). More recent kimberlite discoveries in the region confirm the existence of larger kimberlite bodies and the presence of multiple kimberlite fields.
Bruce Kienlen (P.Geol) and Graham Gill (P. Geo) are Diamonds North's qualified persons reviewing the data for the project.
International Samuel has received regulatory approval for the Ualliq property agreement announced August 2nd, 2006 (see Diamonds North News Release NR06-26). One million shares of International Samuels have been issued to Diamonds North and are subject to a hold period and may not be traded until December 11, 2006.
Diamonds North is a dynamic exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine.
International Samuel is a junior resource exploration company focused on diamond exploration in northern Canada.
ON BEHALF OF THE BOARDS OF DIRECTORS
Mark Kolebaba
President & CEO
Diamonds North Resources Ltd.
Conrad Swanson
President & CEO
International Samuel Exploration Ltd.
For further information, please contact:
Corporate Communications: Nancy Curry
Diamonds North Resources Ltd.
Telephone:
Facsimile:
Website: www.diamondsnorth.com
Email:
Investor Relations : Doug Kerr,
International Samuel Exploration Corp.
Telephone:
Toll Free: 1-
Facsimile:
Website: www.internationalsamuel.com
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.