Dianor completes $540,000 private placement

Dianor Resources Inc., an innovative exploration company focused on advancing diamond exploration properties in Canada, has collected $540,000 by placing 50,000 “flow-through” units at a price of $0.30 per unit and 2,100,000 units at a price of $0.25 per unit, with the second closing of its previously-announced private placement with Northern Securities Inc. and Desjardins Securities Inc.

The company has held first closing on June 30, 2008, and expects to close a third and final tranche of the private placement on or about July 18.

Each of the 50,000 “flow-through” units consists of one “flow-through” common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of Dianor at a price of $0.32 for 24 months.

Each of the 2,100,000 units consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of Dianor at a price of $0.30 for 24 months.

The raised funds will be used for additional work on the Leadbetter Diamond Project, located north east of Wawa, Ontario, and on certain of its Quebec-based exploration properties.

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