TSX.V Symbol (DMI)
KELOWNA, BC, April 20, 2015 /PRNewswire/ - Diamcor Mining
Inc. (TSX-V.DMI / OTCQX-DMIFF), (the "Company") announces it has
retained MZ Group as its investor relations advisor.
"We are committed to growing our investor relations and outreach
efforts and, after careful review, we selected MZ Group as our
investor relations partner because of their experience in clearly
communicating opportunities in the natural resource sector to
qualified investors", said Dean
Taylor, CEO and President of Diamcor Mining. "We believe
this to be an important step in creating long-term shareholder
value as we progress with the planned advancement of our
Krone-Endora at Venetia Project."
MZ Group will assist Diamcor with communicating its corporate,
financial and investor developments to current shareholders and
prospective investors, while enhancing awareness of the Company's
story within the capital markets. Derek
Gradwell, Senior Vice President for MZ North America, will
be the Company's primary investor contact at MZ Group.
"Diamcor Mining is a unique junior diamond producer with
significant near-term production potential," stated Ted Haberfield, President of MZ Group North
America. "Diamcor has a proven history of successful operations and
established relationships that we believe positions the Company
very well in its efforts to expand as a supplier of rough diamonds
to the world market at a very critical time. We look forward to
helping the Company with all aspects of its corporate
communications and investor relations needs."
The initial term of the engagement is for six (6) months, after
which it will automatically renew every six (6) months unless
either party provides written notice to the other within thirty 30
days prior to the end of the current term, that the engagement is
to be terminated. The Company will pay MZ Group a monthly fee
of (US) $5,000 per month for the
first three months, and (US) $7,500
per month thereafter, for a total of (US) $37,500, plus applicable taxes, for the initial
six (6) month term. MZ will also receive stock options to
purchase up to 100,000 common shares of the Company at a price of
$1.35 for a period of thirty six
months. These options will vest over a 12-month period at a
rate of 25% per quarter, and were granted in accordance with the
Policy 4.4 of the TSX Venture Exchange and the terms and conditions
of the Company's Stock Option Plan.
The above-mentioned agreement is subject to the approval of the
TSX Venture Exchange.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publically traded
junior diamond mining company which is listed on the TSX Venture
Exchange under the symbol V.DMI, and on the OTC QX International
under the symbol DMIFF. The Company has a well-established
operational and production history in South Africa and extensive prior experience
supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and
first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous
New York based Tiffany & Co.,
to purchase up to 100% of the future production of rough diamonds
from the Krone-Endora at Venetia Project at then current prices to
be determined by the parties on an ongoing basis. In
conjunction with this first right of refusal, Tiffany & Co.
Canada also provided the Company
with financing to advance the Project. Tiffany & Co. is a
publically traded company which is listed on the New York Stock
Exchange under the symbol TIF. For additional information on
Tiffany & Co., please visit their website at
www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired
the Krone-Endora at Venetia Project from De Beers Consolidated
Mines Limited, consisting of the prospecting rights over the farms
Krone 104 and Endora 66, which
represent a combined surface area of approximately 5,888 hectares
directly adjacent to De Beers' flagship Venetia Diamond Mine in
South Africa. On
September 11, 2014, the Company
announced that the South African Department of Mineral Resources
had granted a Mining Right for the Krone-Endora at Venetia Project
encompassing 657.71 hectares of the Project's total area of 5,888
hectares. The Company has also submitted an application for a
mining right over the remaining areas of the Project. The
deposits which occur on the properties of Krone and Endora have
been identified as a higher-grade "Alluvial" basal deposit which is
covered by a lower-grade upper "Eluvial" deposit. The deposits are
proposed to be the result of the direct-shift (in respect to the
"Eluvial" deposit) and erosion (in respect to the "Alluvial"
deposit) of material from the higher grounds of the adjacent
Venetia Kimberlite areas. The deposits on Krone-Endora occur in two
layers with an average total depth of less than 15.0 metres from
surface to bedrock, allowing for a very low-cost mining operation
to be employed with the potential for near-term diamond production
from a known high-quality source. Krone-Endora also benefits
from the significant development of infrastructure and services
already in place due to its location directly adjacent to the
Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc.,
P.Geo.), is Manager of Exploration & Special Projects for
Diamcor Mining Inc., and the Qualified Person in accordance with
National Instrument 43-101 responsible for overseeing the execution
of Diamcor's exploration programmes and a Member of the Association
of Professional Engineers and Geoscientists of Alberta ("APEGA"). Mr. Hawkins has
reviewed this press release and approved of its contents.
On behalf of the Board of Directors
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
DTaylor@diamcormining.com
Tel (250) 864-3326
www.diamcormining.com
This press release contains certain forward-looking
statements. While these forward-looking statements represent
our best current judgement, they are subject to a variety of risks
and uncertainties that are beyond the Company's ability to control
or predict and which could cause actual events or results to differ
materially from those anticipated in such forward-looking
statements. Further, the Company expressly disclaims any
obligation to update any forward looking statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Diamcor Mining Inc.
