Diamondex Completes First Block of Airborne Geophysical Surveys Over James Bay Lowlands

Diamondex Resources Ltd.'s (TSX VENTURE:DSP) (the "Company") wholly-owned
subsidiary, Nickel Bay Resources Inc., is pleased to announce that a 5,105 line
kilometre airborne EM survey was recently completed over its 100% owned claims
in the James Bay Lowlands of Ontario. The survey, which was flown with Geotech's
VTEM airborne electromagnetic survey system at 200 metre line spacing, overflew
approximately one third of the 390,000 acre nickel exploration property held by
Nickel Bay Resources in the area. Numerous deep electromagnetic anomalies with
closely coincident magnetic responses were detected by the survey. These
basement conductors are interpreted to be excellent targets for magmatic
sulphide exploration (see www.diamondex.net for project location and an image of
some of the VTEM B-field, late time high priority anomalies).


To this point a total of thirty-five discrete late-time conductors have been
identified, with interpreted strike lengths that vary from approximately 300
metres to 1,600 metres. Dr. Mark Shore, Magma Geosciences consulting
geophysicist, commented "the VTEM survey proved remarkably effective at
detecting and resolving conductors in Precambrian basement beneath 100 to 200 m
of resistive Paleozoic cover rocks. In one month it has advanced an area of over
4000 km2 from a conceptual exploration play to one that has a dozen-plus
accurately located high-priority targets that can be readily evaluated by the
standard ground EM techniques used in nickel exploration."


The high priority anomalies will be followed-up with detailed ground geophysical
surveys to further assist conductor characterization and ranking (including
width, dip, depth and ultra-low frequency EM response). These efforts will
assist in drill target prioritization. All targets are interpreted to be hosted
by volcano-sedimentary stratigraphy similar to that containing Noront's Double
Eagle nickel deposit and Spider-KWG's McFauld's Lake VMS deposits.


A second airborne EM survey will be scheduled for the month of June over the
Company's southern block of mineral claims within the James Bay Lowlands.


Nickel Bay is one of the largest property holders in the area, and has
established a leading position in what could be one of Canada's last unexplored
volcanic belts with demonstrated economic potential.


The current field program is being managed by Raymond Ashley, P.Geo., Vice
President Exploration for Diamondex Resources Ltd. Mark Shore, Ph.D., P. Geo., a
consulting geophysicist with Magma Geosciences, is providing QA/QC and data
interpretation for the survey. He is a Qualified Person in accordance with
National Instrument 43-101, and has reviewed and approved the content of this
press release.


DIAMONDEX RESOURCES LTD.

Randy C. Turner, President