PAN Pangolin Diamonds Corp

Editors Note: There is a photo associated with this press release.

Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is
pleased to announce it has discovered its first kimberlite at its 100% owned
Tsabong North Project in Botswana. Core logging identified crater facies
sediments and underlying reworked volcaniclastic kimberlite ("RVK") breccias in
drill hole "Magi-01/1".


Representative rock samples were submitted for independent whole rock analysis
to Activation Laboratories Ltd., in Ancaster (Ontario). The results assisted in
discriminating between the kimberlite crater facies sediments and the overlying
Kalahari Formation. Crater facies sediments are present from a depth of 33.5
meters to 58.8 meters below which RVK breccia occurs to 76.3 meters. The crater
facies sediments and RVK breccias intersected are consistent with the equivalent
lithological units observed in the core of drill hole M1/50 from the M1
Kimberlite in the Tsabong Kimberlite Field which was drilled in 1981.


Dr Leon Daniels, B.Sc., Ph.D., Chairman of the Board of Pangolin, stated: "We
are very pleased with Pangolin's success to date, as we have now graduated from
an explorer to a discoverer and are determined to continue on this course."


The 45 mantle-derived indicator garnets, inclusive of some high pressure garnets
previously announced on March 26, 2013, were liberated from a core sample in
Magi-01/1 taken at a depth of 22 meters below the surface. A split of the
available core will now be processed through a mini-Dense Media Separation Plant
to recover any additional kimberlite indicator minerals, such as garnets, and/or
macro diamonds from the kimberlite intersected section.


Based on these positive results, two additional diamond drill holes intersecting
at least 100 meters of kimberlite will be drilled on the Magi-01 kimberlite for
kimberlite indicator mineral and microdiamond recovery. The Company has also
elevated additional previously identified kimberlite targets in the project area
to targets of high immediate interest with similar magnetic signatures to
Magi-01/1.


The photos in the link below compare the various kimberlite crater facies
sediments (A1, A2) and RVK breccias (B1, B2) from Pangolin's core drill hole
Magi-01/1 (to the left) versus those from drill hole M1/50 from the M1
Kimberlite Pipe (to the right).


To view the photo associated with this press release, please visit the following
link:
http://www.marketwire.com/library/20130515-pangolin_diamonds_pic01_may15.jpg


About the Tsabong North Project

The Tsabong North Project, located approximately 100 km north of the town of
Tsabong in south-western Botswana, is 1,545 km2 in size. It is comprised of
anomalous concentrations of kimberlite indicators and has large geo-botanical
features. Pangolin has already identified more than 50 drill-ready aeromagnetic
targets in the Project area, several of which have surface areas exceeding 20
hectares. Exploration activities in the area are guided in part by the
recommendations of a National Instrument 43-101 Technical Report prepared for
the Project.


The Tsabong North Project is situated on the Archaean Kaapvaal Craton,
immediately north of the diamondiferous Tsabong kimberlite field that hosts the
M1 Kimberlite, the largest known diamondiferous kimberlite pipe in the world
(www.firestonediamonds.com). Pangolin's Chairman, Dr. Leon Daniels, was part of
the Falconbridge Team that developed the geological model of the 180 hectare M1
Kimberlite that was discovered in 1978. He was also directly involved in the
discovery of several new kimberlites in the Tsabong kimberlite field.


Pangolin's soil sampling has produced highly anomalous concentrations of
kimberlite indicators within the Tsabong North Project area. Microprobe analyses
of indicator minerals have confirmed the presence of G10 garnets, indicating the
presence of a mantle conducive to the crystallization of diamonds. A number of
indicators occur, including remnants of kelyphite that indicate close proximity
to kimberlite. Enzyme-leach trace element results are consistent with
orientation trace element results over known kimberlites near the Project.


About Pangolin Diamonds Corp

Pangolin Diamonds Corp. is building a leading diamond exploration and
development company in the heart of Botswana, the world's leading diamond
producing country by value. The Company is the 100% owner of 11 Prospecting
Licenses covering 5,307 km2, including the Tsabong North, Jwaneng South,
Malatswae and Mmadinare Projects. Pangolin's management and team leaders have
over 90 years of combined diamond exploration experience in southern Africa.
This makes the Company the most experienced diamond explorer in Botswana other
than De Beers Exploration and Debswana. The Company is equipped for exploration,
with two diamond drill rigs and a fully portable one-tonne per hour Dense Media
Separation Plant used to prepare samples and make diamond concentrates. Pangolin
is well-funded to continue its exploration programs for the next year.


The technical disclosure in this news release has been reviewed and approved by
Dr. Leon Daniels, Ph.D., Member of AIG, Chairman of the Board of Pangolin, and a
Qualified Person under National Instrument 43-101 rules.


For more information regarding Pangolin Diamonds Corp, please refer to:
www.pangolindiamondscorp.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pangolin Diamonds Corp.
Scott Young
Investor Relations
+1.416.488.1370
scott@pangolindiamondscorp.com


Pangolin Diamonds Corp.
Graham C. Warren
Chief Financial Officer
+1.416.594.0473
+1.416.594.1630 (FAX)
gwarren@pangolindiamondscorp.com
www.pangolindiamondscorp.com

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