July 13, 2009 Diamond Exploration Inc. entered into a purchase and sale agreement with Armex Mining Corp., a private British Columbia
company, to acquire three diamond properties known as the Juina Property, the Rio Pari Property and the Rio Arinos Property, all located in the state of Mato Grosso, Brazil. The company has also arranged a concurrent non-brokered private placement of 25,600,000 units at a price of $0.10 per unit, each unit being comprised of one common share and one five year common share purchase warrant entitling the holder to purchase one additional common share at a price of $0.15.
