Motapa Second Quarter Financial Statements and Interim MD&A

Motapa Diamonds Inc. (TSX VENTURE:MTP) has filed its interim consolidated
financial statements and its Management Discussion and Analysis for the 3 months
ended August 31, 2008 with regulatory authorities through SEDAR. The interim
consolidated financial statements were prepared by management in accordance with
Canadian generally accepted accounting principals and were not reviewed by
Motapa's auditors.


Overview

Highlights of Motapa's exploration activities during its second quarter of
fiscal 2009 are:


- Mothae, Lesotho: A 23.4 carat Type IIa diamond was recovered at Mothae during
the initial stage of Phase 2 sample processing. Kimberlite mining for phase 2,
together with expansion of the tailings impoundment and refurbishments to the
plant commenced in August.


- Mothae, Lesotho: Final results from Phase 1 showed a recovery of 1,206.51
carats at an average sample grade of 4.82 carats per hundred tonnes (cpht). The
higher than expected grade, together with a coarse diamond size distribution,
and the presence of Type IIa diamonds are all positive developments for the
project and have provided sufficient justification to continue with Phase 2 of
the bulk sampling program: mining, milling and diamond recovery from up to an
additional 70,000 tonnes of kimberlite. Lucara Diamond Corp. exercised its
option to earn an additional 14% interest in the project (for a total of 65%) by
committing to contribute $4.2 million out of a total expected budget for Phase 2
of $5.8 million. Motapa retains all rights to diamonds recovered from Phase 1
and Phase 2.


- Kavango, Namibia: The Kavango project is fully funded by Namdeb Diamond
Corporation. The final analytical results from kimberlite indicator minerals
recovered from stratigraphic drill tests carried out in 2007 by Namdeb provides
encouragement for a local diamond bearing kimberlite source. On-going work
includes analytical work from drill holes completed in 2008 and the definition
of a high interest area for an airborne geophysical survey.


Cash and cash equivalents decreased during the period by $444,512 (2007:
increase of $2,609,492) largely as a result of the increased expenditure on the
Mothae kimberlite project.


Exploration expenditure for the quarter ended August 31, 2008 totaled $350,301
(2007: $357,605) almost exclusively due to expenditure on the bulk sampling
program at the Mothae kimberlite in Lesotho. This expenditure was over and above
the $3.8 million spent during this and preceding quarters by Lucara Diamond Corp
on this project in fulfillment of its vesting obligations, and takes to
$1,569,293 the total amount that Motapa has spent on this project up to the end
of Phase 1, before Lucara continued with funding the first $4.2 million of Phase
2. The Kavango project in Namibia was advanced with minimal spend by the Company
as our joint venture partner, Namdeb Diamond Corporation, funded all exploration
work during this quarter. The Gabon uranium project also progressed during the
quarter with all required funding provided by our joint venture partners, Cameco
Corporation and Pitchstone Exploration Ltd.


Corporate expenditure (excluding stock option expenses) for the period ended
August 31, 2008 totaled $196,874 (2007: $214,657) largely due to personnel costs
of $101,310 (2007: $112,544), conferences and promotional materials of $20,849
(2007: $27,605), investor relations expenses of $22,717 (2007: nil), and audit,
legal and other compliance related costs of $37,464 (2007: $43,586). Motapa
recognized an incentive stock option expense of $19,317 (2007: $2,407) in the
current quarter.


On behalf of the Board

MOTAPA DIAMONDS INC.

Dr. Larry Ott, Chief Executive Officer

This news release may contain assumptions, estimates, and other forward-looking
statements regarding future events. Such forward-looking statements involve
inherent risks and uncertainties and are subject to factors, many of which are
beyond the Company's control that may cause actual results or performance to
differ materially from those currently anticipated in such statements.