BRC merger with Diamond Core

BRC DiamondCore Ltd. (formerly named BRC Diamond Corporation) has completed the acquisition of all of the outstanding shares of Diamond Core Resources Limited, thereby effecting the merger of its business with Diamond Core’s business.

As the consideration for this acquisition, the Company issued to Diamond Core shareholders one common share of the Company for every 24.5 Diamond Core shares held (subject to the rounding of fractional shares), such that the Company now has outstanding approximately 25.74 million shares and former Diamond Core shareholders now hold approximately 47% of the Company’s outstanding shares.

Concurrent with this transaction, the Company has changed its name from BRC Diamond Corporation to BRC DiamondCore Ltd. and its shares have been approved for listing on the Toronto Stock Exchange (the “TSX”). The Company’s shares are expected to commence trading on the TSX this morning under the ticker “BCD” and will be delisted from the TSX Venture Exchange concurrent with the TSX listing. The Company’s shares began trading on the JSE Limited in Johannesburg on February 4, 2008 and will continue to trade on the JSE Limited under the new name under the ticker “BCD”.

Mike de Wit, President of the Company, said that although the merger of the businesses has only become effective today, our teams have been working together for several months and the activity level in the field has been increasing through this period of corporate activity. We have made great progress on prioritizing and mobilizing exploration teams to the earlier stage projects, particularly in the Democratic Republic of the Congo, while trial mining continues at the Silverstreams and Paardeberg projects in South Africa. We look forward to providing ongoing positive results as our portfolio of projects begins to shine through the first half of this year.

Theo Botoulas, CEO of the Company, said that Mike and I are of a single mind - that our skills can add the most value in the field, which is where we have kept our focus. Fortunately, we have a great team alongside us and strong advisors that delivered on creating this merged business that we are all excited about. Integration of people is complete, systems and facilities are coming together well, and the group is now in an excellent position to deliver on our new vision as the growth-focused, African diamond company.

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