Diamonds North Closes Tranche 2 of Financing

14.07.2010  |  Marketwired

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/14/10 -- Diamonds North Resources Ltd. (TSX VENTURE: DDN) reports that a portion of the non-brokered private placement announced on June 15, 2010 has closed for gross proceeds of $470,000. The Company has issued 2,350,000 flow-through common shares and paid finders fee of 17,500 finders warrants. The finders warrants are exercisable at $0.25 until July 13, 2011.

All the securities issued hereunder are subject to a four month hold period and may not be traded until November 14, 2010.

About Diamonds North

Diamonds North Resources is rapidly evolving and committed to building long-term value for shareholders through ongoing discoveries and leveraging business opportunities from our vast land holding.

On behalf of Diamonds North Resources Ltd.

Mark Kolebaba, President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts:

Diamonds North Resources Ltd.

Troy Shultz

Corporate Communications

(604) 689-2010

(604) 484-7143 (FAX)
info@diamondsnorth.com
www.diamondsnorth.com