First Kimberlite Found on Diamond Exploration's Central Ontario Project

OTTAWA, ONTARIO, May 27 (MARKET WIRE) --
Diamond Exploration Inc. (TSX VENTURE: DIX) announces that it has
recovered kimberlite boulders from its Bridge River project in Ontario.
The boulders were found during prospecting in an area with anomalous
concentrations of kimberlitic indicator minerals in river gravels.
Microprobe analysis of minerals from the boulders confirmed the presence
of mantle-derived pyrope garnet, picroilmenite and phlogopite.

The project is located in central Ontario, within a region where Diamond
Exploration Inc. has identified kimberlitic pyropes in stream sediments.
Distribution of the pyrope grains indicates there are at least three
separate bedrock source areas. In two of the areas there are high
proportions of chrome-rich, subcalcic ("G10") pyropes. This chemistry
suggests that these "good" garnets have been eroded from potentially
diamondiferous bedrock sources. In the third area, the garnets have a
weaker subcalcic signature with fewer "G10" pyropes.

Company geologists undertook a short prospecting survey in November 2008
to assess the project area. Boulders of ultramafic breccia were found a
few kilometres upstream of one of the anomalous stream sediment sample
sites. The boulders were tentatively identified in the field as
kimberlite; recent microprobe analyses have confirmed this
identification. Pyrope garnets from the boulders have a weak "G10"
chemical signature similar to grains recovered from the river gravels
downstream of the boulders.

The results are deemed highly encouraging and provide strong support for
ongoing exploration efforts. This is the first discovery of kimberlite
within the project area and the Company is excited by these positive
results at this very early stage of exploration. The Company is planning
a summer program of prospecting and till sampling. The work will focus on
delineating the bedrock source of the kimberlite boulders and identifying
the sources of the "good" subcalcic pyropes within the other two areas.

Diamond Exploration Inc. is an exploration stage junior mining company
focused on identification, acquisition and evaluation of diamond-
prospective mineral properties in Canada. Mr. Paul W. Pitman, P. Geo, is
the Qualified Person as defined by National Instrument 43-101 for this
project.

For maps, technical details and additional information about the company
please visit the company's website at www.diamondexplorationinc.com .

"This Press Release may contain forward looking statements that involve a
number of risks and uncertainties. Actual events or results could differ
materially from the Company's expectations and projections. The TSX
Venture Exchange has not approved or disapproved of the information
contained in this Press Release."

Contacts:
Diamond Exploration Inc.
Robin Dow
1-888-834-7708
robin@dowgroup.ca

Bay Street Connect
Gus Garisto
1-416-607-6023
gus@baystreetconnect.com

Copyright 2009, Market Wire, All rights reserved.

-0-