BRC DiamondCore Ltd. - News Releases DiamondCore Resources Ltd. - Posting of unqualified audited financial results

News Releases - Diamond Core Resources Ltd.

	December 14, 2007 Posting of unqualified audited financial results
	Shareholders are referred to the announcement on 15 October 2007, setting out the abridged annual results for the year ended 30 June 2007. The Company is pleased to advise that the audited annual results have been finalised and the auditors have issued an unqualified audit opinion thereon. The annual report will be sent to shareholders during the coming week. We draw your attention to the following difference between the abridged results and the audited results: The audited net loss has decreased to R5,444,233 from R17,338,819 as a result of the unwinding of the transaction concluded between Samadi Resources (SA) (Pty) Ltd and Sefalana Resources (Pty) Ltd (Sefalana). Sefalana Sefalana failed to meet the conditions precedent and the legal advice received by the company confirmed that the agreement with Sefalana had thereby been rendered void ab initio. As a consequence of the aforesaid and in terms of the relevant provisions of the shareholders agreement Sefalana is deemed to have offered its shares to Samadi at the par value thereof and Samadi is deemed to have accepted such offer, serving to relieve Sefalana of its shares and effectively restoring the parties to their respective positions immediately prior to the conclusion of the contracts. Sefalana has indicated that it intends disputing the action taken by the company but has not yet done so. The group has received legal advice that the success of any claim in this matter is remote. Negotiations to comply with the BEE requirements are being followed in terms of this agreement. The loss per share has reduced from 5.78 cents to 1.82 cents. The headline loss per share has increased from the previously reported 5.61 cents to 5.68 cents Net asset value per share has increased to 95.67 cents from 91.72 cents. Net tangible asset value per share has likewise increased to 62.63 cents from 58.69 cents. Shareholders are advised that the Annual Report and AGM material will be posted to shareholders on or about 19 December 2007. For and on behalf of the board AR Davids Non-executive chairman T Botoulas Chief Executive Officer 14 December 2007 Epsom Downs Sandton Directors: AR Davids, T Botoulas, CI Campbell, S Nachom(USA), MJ Prinsloo, GD Hunter, JK Barker(UK) (non-executive) Sponsor: River Group

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