Diamonds North Resources Ltd V.DDN

News-Financing

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Diamonds North Completes $4,500,000 Equity Financing 12/14/05 VANCOUVER, BRITISH COLUMBIA, Dec 14, 2005 (CCNMatthews via COMTEX) -- Diamonds North Resources Ltd. (TSX VENTURE:DDN) announces that the brokered private placement announced December 7th, 2005 has been completed. A total of 2,577,500 flow-through common shares at a purchase price of $0.97 per share and 2,439,300 Units at a purchase price of $0.82 per Unit have been issued. Each Unit consists of one common share and one-half of one share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one common share at a price of $0.95 per common share until December 13, 2006. Loewen, Ondaatje, McCutcheon Limited, (the "Agent") has been issued Agents' Warrants entitling them to purchase up to 351,176 common shares at a price of $0.95 per share until December 13, 2006. The Agent also received commission equal to 6% of the gross proceeds. All the securities are subject to a hold period and may not be traded until April 14, 2006. Diamonds North is a dynamic successful exploration team focused on strategically advancing diamond opportunities and is determined to discover Canada's next diamond mine. On behalf of Diamonds North Resources Ltd. Mark Kolebaba, President & CEO Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. SOURCE: Diamonds North Resources Ltd. Diamonds North Resources Ltd. Nancy Curry Corporate Communications [phone] [phone] (FAX) [e-mail] www.diamondsnorth.com Copyright (C) 2005 CCNMatthews. All rights reserved. © 2005 Stockgroup Media Inc. | Disclaimer