BRC DiamondCore Ltd. - News Releases BRC Diamond Corp. - BRC Diamond Receives Approvals for Sending of Documentation to Diamond Core Shareholders

News Releases - BRC Diamond Corp.

	December 14, 2007 BRC Diamond Receives Approvals for Sending of Documentation to Diamond Core Shareholders
	Toronto, Canada - December 14, 2007 - BRC Diamond Corporation ("BRC" or the "Company") (TSX.V - "BRC") is pleased to announce that it has received South African regulatory, stock exchange and court approvals for the sending to the shareholders of Diamond Core Resources Limited ("Diamond Core") of the documentation required to carry out its pending merger transaction with Diamond Core (the "Merger"). As previously disclosed, the Merger is to be implemented by way of a court-sanctioned scheme of arrangement (the "Scheme") between Diamond Core and its shareholders under the provisions of applicable South Africa corporate law, pursuant to which BRC will acquire all of the outstanding shares of Diamond Core in exchange for BRC shares. The Scheme requires the approval of Diamond Core shareholders. By way of an announcement made today in South Africa by Diamond Core, shareholders of Diamond Core have been advised that the date of the shareholders' meeting to vote on the Scheme has been set for January 14, 2008. Diamond Core also provided various other expected dates in relation to the Scheme to its shareholders, including a final court hearing date of January 22, 2008, a date for the commencement of trading of BRC shares on the JSE Limited of February 4, 2008 and an operative date for the Scheme of February 11, 2008. BRC expects the mailing to Diamond Core shareholders of the Scheme circular and associated material to occur early next week. Concurrent with such mailing, BRC will be filing on SEDAR technical reports on both its own mineral properties and those of Diamond Core. As part of the transaction, and to enable an efficient listing of BRC shares on the JSE Limited, BRC has applied, and received conditional approval, for the listing of its shares on the TSX. Such listing is subject to certain conditions, including that the Diamond Core transaction be completed. Dr. Mike de Wit, President and C.E.O. of BRC, commented: "This marks the end of a long period of documentation in respect of two very dynamic and exciting companies. We look forward to the ongoing support of Diamond Core shareholders in approving our merger transaction in the New Year, as the operating teams of both companies continue to move their exploration and development programs forward." For more information on the transaction, please see the joint press releases of BRC and Diamond Core dated July 5, 2007, August 2, 2007, September 7, 2007 and October 30, 2007, copies of which are available on SEDAR at www.sedar.com. BRC is a Canadian-based diamond exploration company active principally in the Democratic Republic of the Congo (the "DRC"). Led by a management team with extensive experience in the DRC, the Company is active in some of the most prospective diamond regions of the country. Banro Corporation, the Company's largest shareholder with a 27.5% interest in BRC, is a mineral exploration company focused exclusively on the DRC. For further information, please contact Dr. Mike de Wit, President and C.E.O., Arnold T. Kondrat, Executive Vice President, or Martin D. Jones, Vice President, Corporate Development, at (416) 366-2221 or 1-800-714-7938. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the completion of the Merger and future objectives and plans of the Company) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to complete the Merger as a result of one of the closing conditions not being fulfilled (including failure to obtain Diamond Core shareholder approval), the possibility that future exploration results will not be consistent with the Company's expectations, changes in equity markets, changes in diamond markets, foreign currency fluctuations, political developments in the DRC, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, delays in obtaining or failure to obtain required project approvals, the uncertainties involved in interpreting geological data and the other risks involved in the diamond exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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