PAN Pangolin Diamonds Corp

Pangolin Diamonds Corp. (the "Company" or "Pangolin") (TSX VENTURE:PAN) is
pleased to announce the closing of a non-brokered private placement financing
for aggregate gross proceeds of $718,000 (the "Offering"). The Offering
consisted of 7,180,000 units of the Company (each, a "Unit") at a price of $0.10
per Unit. Each Unit consists of one common share in the capital of the Company
("Common Share") and one Common Share purchase warrant (each a "Warrant"). Each
Warrant entitles the holder thereof to acquire one Common Share at a price of
$0.20 for a period of two years from the date hereof.


The Company retained the services of Aberdeen Gould Capital Markets Ltd.
("Aberdeen"), an exempt market dealer based in Toronto, to lead and arrange the
Offering. The Company will pay Aberdeen a cash payment equal to seven percent
(7%) of the total gross proceeds raised from the Offering in connection with
subscriptions arranged by Aberdeen, plus compensation warrants ("Compensation
Warrants") equal to seven percent (7%) of the total number of Units sold by
Aberdeen pursuant to the Offering. Each Compensation Warrant entitles Aberdeen
to purchase one Unit of the Company and is exercisable for a period of two years
from the date hereof on the same terms and pricing of the Units. 


Funds will be applied to the on-going drilling, geological-geophysical and
sampling programs at its 100% owned Diamond Projects in Botswana, as well as for
general working capital purposes.


The Offering is subject to the final acceptance of the TSX Venture Exchange, and
all securities issued pursuant to the Offering are subject to a four-month and
one day hold period.


About Pangolin Diamonds Corp.

Pangolin Diamonds Corp. is building a leading diamond exploration and
development company in the heart of Botswana, the world's leading diamond
producing country by value. The Company is the 100% owner of four separate
projects throughout Botswana inclusive of the Tsabong North, Jwaneng South,
Malatswae and Mmadinare Projects. Pangolin's management and team leaders have
over 100 years' of combined diamond exploration experience. This places the
Company as one of the most experienced diamond explorers in Botswana. The
Company is equipped for exploration, with two diamond drill rigs and a fully
portable one-tonne per hour Dense Media Separation plant used to prepare samples
and make diamond concentrates.


For more information, please refer to www.pangolindiamondscorp.com

Follow us on Twitter: @pangolindiamond 

About Aberdeen Gould Capital Markets Ltd 

Aberdeen Gould Capital Markets is a Toronto based Exempt Market Dealer that
provides Investment & Merchant Banking services to small and mid-market
companies (www.aberdeengould.com).


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pangolin Diamonds Corp.
Scott Young
Investor Relations
+1.416.488.1370
scott@pangolindiamondscorp.com


Pangolin Diamonds Corp.
Graham C. Warren
Chief Financial Officer
+1.416.594.0473
+1.416.594.1630 (FAX)
gwarren@pangolindiamondscorp.com


Aberdeen Gould Capital Markets Ltd.
Roger Rosmus
+1.416.488.2887 x222
roger@aberdeengould.com

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