Botswana Exploration Update

DiamondCorp plcJSE share code: DMCAIM share code: DCPISIN: GB00B183ZC46(Incorporated in England and Wales)(Registration number 05400982)(SA company registration number 2007/031444/10)('DiamondCorp' or 'the Company')

BOTSWANA EXPLORATION UPDATE

DiamondCorp plc, the African diamond mine development and exploration company, is pleased to provide an update of kimberlite exploration at the Company's Jwaneng South joint venture in Botswana.

Preliminary results of kimberlite samples recovered from the first five large diameter (455mm) drill(LDD) holes undertaken on kimberlite J-05 are now available.

The samples totalling 249.85 tonnes were processed through a modified circuit on the 65tph dense media separation plant at the Company's Lace Mine in South Africa. The circuit was modified specifically to treat the LDD samples from Jwaneng. Each borehole was treated as a separate sample with the plant being purged between samples. Each sample was spiked with tracers to monitor plant performance. All tracers were recovered.

A total of 23 macro diamonds (diamonds larger than 0.5mm in size) totalling 0.85 carats have been recovered to date. The majority are clear gem quality stones with four pink stones present. The majority of the stones are fragments of larger diamonds most likely broken during the drilling process. The concentrates from each sample will be re-processed early in the New Year in order to ensure that no diamonds were missed. Once the samples have been re-processed, the data, together with the micro diamond data recovered from earlier exploration, will be submitted for modelling to determine an initial grade estimate.

In the meantime, LDD drilling at kimberlite J-01 is continuing, with samples due to start arriving at Lace for processing in the New Year.

Commenting on the results, DiamondCorp's managing director Paul Loudon said: "We look forward to receiving final results and the grade modelling from the mini-bulk tests on both J-01 and J-05 in the first quarter of 2012. Only when the final data has been assessed and modelled will we have an indication of the grade potential of these kimberlites."

London

20 December 2011

The Competent Person responsible for the technical information contained in this announcement is Mr Paul Zweistra (Pr. Sci. Nat., Registration number 400016/93) a full-time employee of VP3. VP3 and Mr Zweistra have given their permission for their work to be quoted in this announcement.

AIM Nomad: Fairfax I.S. plc

AIM Brokers: Fairfax I.S. plc, Ocean Equities LtdJSE Sponsor: PSG Capital (Pty) LimitedDiamondCorp plc, Paul Loudon +44 20 3151 0970/+27 56 212 2308Ewan Leggat, Fairfax I.S. plc +44 207 598 5368Guy Wilkes, Ocean Equities Limited +44 207 786 4370John-Paul Dicks, PSG Capital (Pty) Limited +27 21 887 9602Charmane Russell/Marion Brower, Russell & Associates +27 11 880 3924