Diamcor Retains Integrous Communications

KELOWNA, February 8, 2021 - Diamcor Mining Inc. (TSX-V.DMI) (OTCQX-DMIFF), ("Diamcor", or the "Company") is pleased to announce it has retained Integrous Capital Partners, LLC, DBA Integrous Communications ("Integrous") as its investor relations advisor.

"We are excited to have restarted operations and look forward to growing our investor reach," stated Dean Taylor, President and CEO of Diamcor. "As one of the most experienced teams in our space, we selected Integrous as advisor. Their depth of relationships and sector expertise provides us with the best-in-class support to now communicate our operational progress at our Krone-Endora project and creation of shareholder value."

Integrous 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. Rich Matthews, Managing Partner at Integrous, will assist the Company with investor contact going forward.

"We are pleased to be partnering with Diamcor as communications advisor," stated Rich Matthews, Managing Partner at Integrous Communications. "Diamcor has successfully restarted operations following global shutdowns experienced due to the COVID-19 pandemic. Recent success in rebuilding the operational team, restarting production facilities, and resulting sales of rough diamonds provides perfect timing to expand awareness. We look forward to assisting Diamcor with all aspects of its corporate communications and investor relations initiatives."

Integrous has been retained under a consulting agreement (the "Agreement") to provide corporate communications and investor relations initiatives to the Company for a period of 12 months beginning February 1, 2021. Under the terms of the Agreement, the Company will pay US$10,000 per month from its general working capital and will grant 300,000 options to Integrous to purchase Class "A" Common Shares in the capital of the Company at a price of $0.15 per share. The options will vest in accordance with the TSX Venture Exchange vesting requirements as follows: 75,000 options may be exercised on May 1, 2021, 75,0000 options may be exercised on August 1, 2021, 75,000 options may be exercised on November 1, 2021, and subject to the terms of the agreement and the renewal provision, 75,000 options may be exercised on February 1, 2022. All options will expire three years from the date of issue, and all options exercised will be subject to the required hold periods pursuant to applicable securities laws and TSX Venture Exchange policies. The Company and Integrous have acted at arm's length prior to entering into the Agreement. The compensation payable to Integrous under the Agreement is solely on a fee for service basis.

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB 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 Integrous Communications

Integrous Communications is an independent investor relations consulting firm providing a single-source-solution for financial, corporate governance, applied technology, and integrated corporate communications services. Integrous serves both domestic and international clients, including companies listed on the U.S., Canadian, Australian and European exchanges. Integrous is a promissory note holder associated to Diamcor's private placement which closed in December of 2020.

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 publicly 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 a maximum total depth of approximately 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.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc.
Info@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

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.