Debut Signs LOI for Option on Fletcher Gold Claims

Debut Diamonds Inc. (the "Company" or "Debut"), (CNSX:DDI) is pleased to
announce that it has signed a Letter Of Intent ("LOI") with Fletcher Nickel Inc.
("Fletcher") (Canadian Unlisted Board: FL) to enter into an Option Agreement
(the "Option") whereunder Debut would be entitled to earn up to a 65% joint
venture interest in the claims held by Fletcher south of the Texmont Mine
covering the Kirkland Lake Break extension south of Timmins, adjacent to the
recent SGX gold discovery (the "Property"). The Property comprises 65 contiguous
unpatented mining claims totaling 730 claim units covering an area of 116.5
square kilometers.


The terms of the proposed Option would require Debut to spend $2,500,000 on the
Property by December 31, 2014 (with $500,000 to be spent by December 31, 2012)
to earn an initial 50% interest in the Property (excluding nickel minerals,
which shall remain the property of Fletcher). An additional 15% interest in the
Property could be earned by Debut underwriting the entire cost of a feasibility
study on any deposit found (excluding nickel mineral deposits) within the
ensuing 5 years, provided that Debut maintains the Option in good standing by
also paying Fletcher $100,000 per annum commencing January 1, 2013. 


Chris Meraw, President of Debut Diamonds stated that, "Although the drilling
crews are making excellent progress in their hunt for diamonds at Nakina,
commencement of Debut's exploration program was substantially delayed by the
necessity of first concluding consultations and an exploration agreement
followed by archaeological reconnaissance with affected First Nations. In the
result, it became necessary to develop a contingency plan to ensure that
exploration expenditures previously renounced to the subscribers of flow-through
shares of Debut would be completed in 2012, as contracted. The opportunity to
work with Fletcher on its substantial Timmins area gold properties will in turn
provide Debut with an excellent opportunity to hedge its exploration efforts in
the same region of the Province."


About Debut Diamonds

Debut has joint venture and wholly owned properties all of which are located in
Northern Ontario; these include the previously discovered MacFadyen Kimberlites
and the Pele, Victor West, and Uniform Surround claim blocks adjoining the De
Beers' Victor Mine. Located in the same region are the company's Nakina Project,
Wawa Project and Canada Chrome Soil Sampling joint venture. The Kyle Kimberlites
and Diagnos Initiative are within and adjacent to the Ring of Fire.


Forward-Looking Statement

The foregoing information contains forward-looking statements relating to the
future acquisition by Debut of up to a 65% interest in the Property, including
statements concerning future expenditures and payments by Debut, and is based on
the assumptions that Debut will have the financial resources to meet the
requirements of the Option and will determine that the Property warrants the
expenditures required under the Option. Forward-looking statements, specifically
those concerning future performance, are subject to many risks and
uncertainties, and actual results may differ materially from Debut Diamonds Inc.
plans and expectations. These plans, expectations, risks and uncertainties are
detailed herein and from time to time in the filings made by Debut Diamonds with
the CNSX Exchange and securities regulators. Debut Diamonds does not assume any
obligation to update or revise its forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
law.


Shares issued and outstanding: 53,990,934

FOR FURTHER INFORMATION PLEASE CONTACT: 
Debut Diamonds Inc.
Bruce Hodgman
VP Corporate Communications
[phone]
[e-mail]
www.DebutDiamonds.com