Dianor Enters Into Forbearance Agreements and Signs Term Letter for $5 Million Funding

Dianor Resources Inc. (TSX VENTURE:DOR)(OTCQX:RSDNF) wishes to announce that it
has entered into a forbearance agreement with 1778778 Ontario Inc. with respect
to the mortgage on the surface rights on the Leadbetter Diamond Property entered
into in October, 2008. The full amount of the mortgage was $5,000,000.00; to
date the Company has paid $2,550,000. The balance of the mortgage to be paid
under the forbearance agreement is $2,450,000 plus accruing interest and other
fees. 


A forbearance agreement was also signed with Third Eye Capital Inc. for the
payment of $1,279,662.21 plus accruing interest and other fees arising from the
$10M credit facility entered into in August, 2010. 


On Friday, March 2, 2012, the Company signed a term letter for a $5,000,000
secured bridge loan with a US entity. The loan will be structured for a one to
three year period at 12% interest only, with two points paid to the lender at
closing as an administration fee. Subject to successful due diligence on the
part of the lender, completion of this loan will allow the Company to pay off
senior debt as per the forbearance agreements. The Company is actively pursuing
other funding opportunities to finance the planned 50,000 tonne bulk sample of
the Leadbetter Diamond Deposit. 


Dianor would like to thank Third Eye Capital Inc and 1778778 Ontario Inc. for
the forbearance agreements, which allow the Company to continue evaluating
funding opportunities. 


Dianor Resources Inc. regrets to announce the resignation of Pierre Paquette,
for personal reasons. Pierre has been a Board member since 2002, and has played
an integral role in the development of the Company. Dianor wishes to thank Mr.
Paquette for his long years of service to the Company and to shareholders. 


Mr. Jim Steel P.Geo is the Qualified Person for the technical content of this
press release. 


About Dianor

Dianor is an innovative exploration company focused on advancing diamond
exploration properties in the Superior Craton of Canada. The Leadbetter Diamond
Project is its most advanced project and is geographically well situated and
easily accessible, some 12 kilometres north east of Wawa in Northern Ontario.
Substantial exploration work has been conducted on the project since 2005 and in
May 2009, the Company received government approval to proceed with a 50,000
tonne bulk sampling programme of the 2.697 Ma old Archean Conglomerate. A
preliminary tonnage estimate for this conglomerate is in the range of 549
million to 583 million tonnes (press release July 24th 2007). In addition to
diamonds, the conglomerate contains gold, sapphires and rubies (press release
January 18th 2007). In 2008, additional diamond discoveries, including rare
purple diamonds, were made by the Company in rocks of similar type, age
(Archean) and geological settings (press release March 3rd, April 10th,& May
13th 2008) in Quebec. The Quebec diamond properties have increased our portfolio
of low cost, accessible exploration targets. These diamond discoveries (Ontario
and Quebec) are both unique and amongst the oldest diamond-bearing occurrences
in the world.


Forward-Looking Statements 

This news release contains statements that may constitute "forward-looking
information" or "forward-looking statements" within the meaning of applicable
securities legislation. This forward-looking information is subject to numerous
risks and uncertainties, certain of which are beyond the control of Dianor
Resources Inc. ("Dianor"). Actual results or achievements may differ materially
from those expressed in, or implied by, this forward-looking information. No
assurance can be given that any events anticipated by the forward-looking
information will transpire or occur, or if any of them do so, what benefits that
Dianor will derive therefrom. Forward-looking information is based on the
estimates and opinions of Dianor's management at the time the information is
released and Dianor does not undertake any obligation to update publicly or to
revise any of the forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required by applicable
securities laws.