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VAL-D'OR, QUEBEC--(Marketwire - Dec. 29, 2010) -

This news release is not for distribution to United States newswire services or for dissemination in the United States.


Dianor Resources Inc. (TSX VENTURE:DOR) announces that it has completed a private placement by issuing an aggregate of 30,769,230 "flow-through" units to four limited partnerships associated with MineralFields Group of Toronto, Ontario at a price of $0.065 per unit, for gross proceeds to Dianor of $2,000,000.




Each unit consists of one "flow-through" common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of Dianor at a price of $0.10 until December 29, 2012.


In connection with the closing of the private placement, Dianor paid finders' fees to Limited Market Dealer Inc. in an amount of $100,000, representing 5% of the gross proceeds raised in the private placement. Dianor also issued compensation options to Limited Market Dealer Inc. entitling it to purchase up to 3,076,923 units of Dianor, representing 10% of the number of units sold in the private placement through Limited Market Dealer Inc. The compensation options are exercisable at a price of $0.065 per unit for a period of two years. Each unit will be comprised of one common share of Dianor and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of Dianor at a price of $0.10 until December 29, 2012.


The proceeds from the private placement will be used for exploration on Dianor's properties in Ontario. As a result of the closing of the private placement, there are 263,011,930 common shares of Dianor issued and outstanding.


Under applicable securities legislation and the policies of the TSX Venture Exchange, all of the foregoing securities are subject to a hold period expiring on April 30, 2011.



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 24th2007). 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.



About MineralFields, Pathway and First Canadian Securities (R)



MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver, Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Fund Inc. corporate-class mutual fund series). Information about MineralFields Group is available at >www.dianor.com