Issue of Equity

Details Company Name: DiamondCorp Ticker: DCP Date Posted: Monday, 15th March 2010 Price: 9 (as of Friday, 12th March 2010)

HIGHLIGHTS

·              The Company has conditionally placed 100,154,695 new ordinary shares at 7 pence per share to raise approximately £7 million (before expenses)

·              Subscription for 907,843 new ordinary shares at 7 pence to raise £63,459

·              The proceeds of the placing are to be applied to allow the Company to resume underground development at the Lace mine in South Africa, continue with its diamond exploration programmes in Botswana, meet scheduled debt repayments for 2010 and for working capital

·              The Placing is subject to shareholder approval at a general meeting which will be held on 1 April 2010 at 12 noon UK time

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