VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2008) - Diamondex Resources Ltd.'s (TSX VENUTRE:DSP) (the "Company") wholly-owned subsidiary, Nickel Bay Resources Inc., is pleased to announce that a 5,000 line kilometer airborne EM survey is currently in progress over its 100% owned claims in the James Bay Lowlands of Ontario. As of March 9, 2008, the survey was 25% completed and had already identified several high quality conductors coincident with strong magnetic anomalies. These conductors are interpreted to be excellent targets for magmatic sulphides.

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This survey is being flown with Geotech's VTEM airborne electromagnetic survey system. The current survey will cover approximately a third of the 390,000 acre nickel exploration property held by Nickel Bay Resources in the area.

All targets are interpreted to be underlain by similar volcano-sedimentary stratigraphy that hosts Noront's Double Eagle nickel deposit and Spider-KWG's McFauld's Lake VMS deposits.

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., of Diamondex Resources Ltd., in conjunction with Jean-Denis Fournier, a base metals consultant with Triops Enterprises Ltd.

Mark Shore, 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. / NICKEL BAY RESOURCES INC.

Randy C. Turner, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.