Thelon Capital Announces Discovery of Kimberlite on Its JV Property 12 km West Of the Diavik Diamond Mine, NWT, Canada

Thelon Capital Ltd. (TSX VENTURE:THC)(FRANKFURT:TFHC) - The Company is pleased
to announce that it has been notified by its Joint Venture Partner Peregrine
Diamonds Ltd. that they have discovered a new kimberlite, the LD-1 Kimberlite on
its Lac de Gras Diamond project 12 km west of the Diavik Diamond Mine. 


A core hole drilled at an inclination of 50 degrees from horizontal intersected
kimberlite from 76 to 168.5 metres. LD-1 is a texturally variable crater-facies
volcaniclastic kimberlite that contains chrome diopside, garnet and coarse
olivine.


Jason Walsh, President: "The discovery of a kimberlite on our JV property in the
world-class Lac de Gras diamond camp which hosts the EKATI and Diavik diamond
mines is tremendous news for the Company and management are looking forward to
the results of the caustic fusion microdiamond analysis being planned for the
drill core samples taken."


The Lac de Gras project consist of 32,200 hectares of claims in joint venture
with Peregrine Diamonds Ltd. (66.2% Peregrine, 33.8% Thelon) where the LD-1
discovery was made.


Coal Project News

The Company has also received the necessary extensions to complete the purchase
of Clear Fork Mining from Mr. William Cousins. 


THELON CAPITAL LTD. 

On behalf of the Board of Directors 

Jason Walsh, President