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DDN Diamonds North Resources Ltd

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Share Name Share Symbol Market Type
Diamonds North Resources Ltd TSXV:DDN TSX Venture Common Stock
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Diamonds North and Uranium North Report Trenching Yields 20 g/t Gold Over 1.5 Metres on Washington Gold Project

29/11/2012 1:20pm

Marketwired Canada


Diamonds North Resources Ltd. (TSX VENTURE:DDN) and Uranium North Resources
Corp. (TSX VENTURE:UNR) ("the Companies") announce that trenching on the Poland
China property in Washington State has identified a new mineralized zone with
gold values up to 19.95 g/t over 1.52 metres. 


"Gold values as high as 19.95 g/t represent a significant discovery on the
Poland China project and emphasize the unrealized potential of our Washington
State projects. Utilizing modern exploration technology and a systematic
approach, this discovery was made only 55 metres from the historic mine site.
Several other high priority target areas have also been identified for testing.
This recent discovery provides us with added confidence as we advance the
project to a drill program," says Mark Kolebaba President and CEO. 


A 12 metre wide quartz stockwork zone was identified in a 22 metre long trench.
Assays from this zone highlight a 9.75 metre interval with a grade of 5 g/t gold
(see table below). At the east margin of this zone there is 3.05 metres grading
5.13 g/t gold and at the west margin of the zone there is 3.05 metres grading
10.57 g/t gold. The 1.52 metre long chip sample with a grade of 19.95 g/t gold
occurs within the west margin of the zone. The interval between 11.6 metres and
13.1 metres adjacent to the sample yielding 19.95 g/t gold was not sampled
because the backhoe could not reach bedrock.


Analytical results in table 1 are from continuous chip samples collected from
bedrock exposed in the excavated trench. This trench tested a gold-in-soil
anomaly that was coincident with a VLF-EM anomaly. Mapping of the trench shows
predominately quartz stockwork intruding a graphitic, argillite host rock
similar to the host rocks at the historic Poland China gold mine. 

These new zones of mineralization were identified by soil sampling and VLF-EM
surveying methods. Several other untested coincident soil and VLF-EM anomalies
exist across the property and are high priority for testing and maybe related to
additional quartz stockwork zones hosted by graphitic argillites.




Trench 1 Results Summary                                     
-------------------------------------------------------------
Interval           Width                         Gold  Silver
(m)                  (m)   Mineralization       (g/t)   (g/t)
-------------------------------------------------------------
1.83 - 3.35         1.52                        0.109    0.78
-------------------------------------------------------------
3.35 - 4.88         1.52                         0.27    1.19
-------------------------------------------------------------
4.88 - 6.4          1.52   Quartz stockwork     0.166    1.21
-------------------------------------------------------------
6.4 - 7.92          1.52   Quartz stockwork      4.99    6.59
-------------------------------------------------------------
7.92 - 9.45         1.52   Quartz stockwork      5.27    8.12
-------------------------------------------------------------
9.45 - 11.58        2.13   Quartz stockwork     0.415    1.34
-------------------------------------------------------------
11.58 - 13.11       1.52   No bedrock          0 g/t assigned
-------------------------------------------------------------
13.11 - 14.63       1.52   Quartz stockwork     19.95    10.6
-------------------------------------------------------------
14.63 - 16.15       1.52   Quartz stockwork      1.18    2.44
-------------------------------------------------------------
16.15 - 17.68       1.52                        0.024    0.72
-------------------------------------------------------------
17.68 - 19.2        1.52   Quartz stockwork     0.032    0.82
-------------------------------------------------------------
19.2 - 20.73        1.52                        0.247    0.96
-------------------------------------------------------------
20.73 - 22.25       1.52                        0.221    0.93
-------------------------------------------------------------



A second trench located 100 metres to the north intersected a 6.1 metre quartz
stockwork zone that is coincident with a gold-in-soil anomaly and a VLF-EM
anomaly. A 1.52 metre chip sample returned 0.632 g/t gold. 


Trench results support the soil sampling and VLF as useful tools in exploring
the Poland China property. Plans for additional trenching and a drill program
are being prepared.


The Poland China property, is located in northeast Washington in the Okanogan
County, and is under lease to Minerals North LLC a U.S. subsidiary jointly owned
by Uranium North and Diamonds North. 


The Poland China property is 10 kilometres west of the Kinross Buckhorn Mine and
lies within the same geological formation. The main vein on the Poland China
property is the Kismet vein which is reported to extend for more than 750
metres. Historically only about 100 metres of the vein has been mined at shallow
depth. The Kismet vein averages 2 metres in width and is as wide as 4.5 metres.
Mine grades of 8.22 g/t to 12.7 g/t gold and 13.7 g/t silver have been recorded.
Other mineralized veins reportedly exist on the property, one of which was 2.6
metres wide and traceable for 1500 metres.


Diamonds North Resources Ltd. and Uranium North Resources Corp. have formed and
jointly own Minerals North LLC, a Nevada registered company with the objective
to explore mineral potential in Washington State. This partnership demonstrates
the Companies' commitment to increasing shareholder value while maintaining low
cost exploration. 


Graham Gill, P.Geo, and Bruce Kienlen, P.Geol are the Qualified Persons as
defined by National Instrument 43-101 reviewing the data collected and
overseeing the project. All the Minerals North samples were analyzed by ALS
Canada Ltd using ICP -MS. The historical work is from private historic reports
and has not been verified by the Companies, however, it appears to have been
completed under standard best practices consistent with the time and appears to
be of reasonable quality.


On behalf of the Board of Directors,

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. Grams per tonne are noted as g/t. All dollar amounts are expressed
in Canadian dollars, unless otherwise specified. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Diamonds North Resources Ltd.
Troy Shultz
Manager, Corporate Communications
(604) 689-2010
(604) 484-7143 (FAX)
info@diamondsnorth.com
www.diamondsnorth.com / Twitter: @diamondsnorth


Uranium North Resource Corp.
Heather Kays
Manager, Corporate Communications
(6040 484-7120
(604) 484-7143 (FAX)
info@uraniumnorth.com
www.uraniumnorth.com

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