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Diamcor Mining Inc. (TSX-V.DMI / OTCQX-DMIFF), (the “Company”) announces the results of the second rough diamond tender of the Company’s third fiscal quarter ending December 31, 2015 from its Krone-Endora at Venetia project in South Africa (the “Project”).

In the second tender of the third fiscal quarter, the Company sold 2,403.64 carats of rough diamonds, for gross proceeds of US $360,016.23, resulting in an average price of US $149.78 per carat. This brings the combined rough diamonds tendered and sold during the third fiscal quarter ending December 31, 2015, including those rough diamonds sold to the South African State Diamond Trader during the period, to 9,469.34 carats generating gross proceeds of US $1,202,187.70, for an average price of US $127.02 per carat. The results represent a ~95% increase in total rough diamonds tendered and sold when compared to 4,845.93 carats tendered and sold in the Company’s second fiscal quarter ending September 30, 2015, and a ~78% increase in gross revenues when compared to US $676,835.08 gross revenues reported in that same period. As previously announced, rough diamonds recovered after the November 16th, 2015 second tender cut-off date to the end of the fiscal quarter ending December 31, 2015 will be recorded at the end of the period as rough diamond inventory on-hand, and have been delivered periodically through the remaining portion of the current quarter to be prepared for upcoming tenders expected to take place early in the Company’s fourth fiscal quarter ending March 31, 2016. The price per carat realized during the tenders completed during the third fiscal quarter was in line with Company expectations given current market conditions.

Rough diamonds tendered were the result of the continued processing of material in the +1.0mm to -26mm size fractions, along with limited processing of material from various larger size fractions during the period. The combined efforts currently underway are designed to support the continued advancement of objectives consistent with the recommendations of the updated NI43-101 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.