Diamcor Secures $4.0 Million Additional Financing From New York Based Tiffany & Co.

Diamcor Secures $4.0 Million Additional Financing From New York Based Tiffany 
& Co. 
TSX.V Symbol (DMI) 
/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES, TO "U.S. 
PERSONS" OR TO UNITED STATES OF AMERICA NEWS SERVICES./ 
KELOWNA, BC, Nov. 16, 2012 /CNW/ - Diamcor Mining Inc. (TSX-V.DMI) (the 
"Company") is pleased to announce that it has obtained an additional $4.0 
million in financing from its long-term strategic alliance partner, world 
famous premier luxury jewellery and specialty retailer Tiffany & Co. 
("Tiffany"). The $4,000,000 in financing will be provided by Tiffany's 
subsidiary, Tiffany & Co. Canada, via a $2,400,000 term loan (the "Term Loan") 
and a $1,600,000 convertible debt debenture (the "Convertible Debenture"). 
The transaction is subject to final acceptance by the TSX Venture Exchange. 
The Term Loan has a fixed rate of interest of 9% and is secured by a 
promissory note (the "Promissory Note") which is non-amortizing until January 
2014, at which time principal and interest is payable monthly in accordance 
with a 36 month amortization schedule. The Company has the right to repay 
the outstanding principal and any accrued and unpaid interest due under the 
Promissory Note at any time without notice or penalty. 
The Convertible Debenture has a fixed rate of interest of 9% per annum, and is 
non-amortizing until January 2014, following which time principal and interest 
is payable monthly in accordance with a 36 month amortization schedule. The 
Company has the right to repay the outstanding principal and any accrued and 
unpaid interest, without penalty, on not less than 30-days' notice and subject 
to the conversion rights contained in the Convertible Debenture. Under the 
conversion rights of the Convertible Debenture, Tiffany & Co. Canada may 
convert the principal amount of $1,600,000, along with any accrued and unpaid 
interest due at that time, in whole or in part, into Class A Common Shares 
(the "Shares") of the Company at a conversion price of CAD $1.60 per Share. 
Under the conversion scenario, a maximum of 1,090,000 Shares in the Company 
would potentially be issued. Any Shares issued upon the conversion of any 
amounts due under the Convertible Debenture will be subject to a hold period 
which expires four months and one day from the date of issuance of the 
Convertible Debenture. 
The sourcing, negotiation and successful completion of this additional 
financing transaction with Tiffany & Co. were completed by the Company's 
management and directors. As a result, no brokerage or finder's fees were 
incurred by the Company. 
As part of the commissioning and testing exercises underway at the Project, 
Company executives in conjunction with various equipment manufacturers and 
engineering firms continuously evaluated material from the deposit, the 
current quarrying and in-field screening equipment, and in certain cases 
performed tests on new equipment using material from the Project. As a 
result of these efforts, the Company believes the deployment of additional 
dry-scrubbing and screening equipment will not only more efficiently treat 
material in the +10mm size fraction, but also further enhance the treatment of 
all material and provide additional operational efficiencies and enhance 
recoveries over the long-term. In conjunction with the closing of this 
additional financing, the Company plans to proceed with the immediate 
procurement of this equipment and expand the current capabilities of the 
quarrying and in-field screening operations. Additional information on the 
equipment being added will be provided by the Company in a separate news 
release in the coming weeks. 
"We are very pleased with the continued support of our strategic alliance 
partner Tiffany and Co. and their willingness to support our expansion plans" 
commented Diamcor President and Chief Executive Officer, Mr. Dean H. Taylor, 
"We believe deploying this additional equipment now will allow us to further 
enhance results which are already meeting or exceeding our expectations, and 
provide us with the ability to expedite our overall goals and targets for the 
long-term", added Mr. Taylor. 
Project Status Overview: 
The extensive planning, development and construction of site infrastructure at 
Krone-Endora at Venetia was successfully completed over a period of less than 
18 months, which has positioned the Company to now further advance the 
development of the Project and pursue near-term production. Following the 
completion of the above-mentioned commissioning and testing exercises, the 
Company plans to focus on achieving targeted staged monthly operational 
increases through a move to trial mining to provide the Company with 
production and cash flow. The Company anticipates that the move to full 
scale mining will coincide with the confirmation by the South African 
Department of Mineral Resources of the issuance of a mining right which has 
been applied for and is currently in process. In conjunction with the full 
scale mining exercises, the Company also plans to carry out a bulk sampling 
programme on new areas of the Project not previously accounted for in the 
initial NI 43-101 Technical Report filed by the Company as part of the 
acquisition process. These efforts are designed to support the future filing 
of an updated NI 43-101 Technical Report, and to assist Management when 
developing long-term production targets and decisions for the Project. 
Strategic Tiffany & Co. Alliance: 
As announced on March 29, 2011, the Company has established a long-term 
strategic alliance and first right of refusal with world famous New York based 
Tiffany & Co. to purchase up to 100% of the future production of rough 
diamonds (excluding Specials, individual stones of 10.8 carats or greater) 
from the Krone-Endora at Venetia Project at current prices to be determined by 
the parties on an ongoing basis. In conjunction with this right of first 
refusal, Tiffany & Co. also provided the Company with substantial financing to 
advance the Project as quickly as possible. Tiffany & Co. is a publically 
traded company which is listed on the New York Stock Exchange under the symbol 
TIF. Originally founded in 1837, the Tiffany's name is now globally 
recognised as one of the premier luxury jewellery and specialty retailers in 
the world. Through Tiffany & Co. and various other subsidiaries, the company 
is engaged in product design, manufacturing, and retailing activities on a 
global basis. As of July 31, 2012 Tiffany & Co. operated 260 stores and 
boutiques in the Americas, Japan, Asia-Pacific, and Europe and engages in 
direct selling through internet, catalog and business gift operations. For 
additional information on Tiffany & Co., please visit their website at 
www.tiffany.com. 
About Krone-Endora at Venetia: 
On February 28, 2011, Diamcor successfully acquired the Krone-Endora at 
Venetia Project from De Beers Consolidated Mines Limited, consisting of the 
prospecting rights over the farms Krone 104 and Endora 66, which represent a 
combined surface area of approximately 5,888 hectares directly adjacent to De 
Beers' flagship Venetia Diamond Mine in South Africa. De Beers previously 
completed various exploration efforts on initial areas of interest comprised 
of approximately 307 hectares, a summary of which was reported in an initial 
Independent NI 43-101 Technical Report filed by the Company on July 30, 
2009. The deposits which occur on the properties of Krone and Endora have 
been identified as a rare, higher-grade "Alluvial" basal deposit which is 
covered by a lower-grade upper "Eluvial" deposit. The deposits are proposed 
to be the result of the direct-shift (in respect to the "Eluvial" deposit) and 
erosion (in respect to the "Alluvial" deposit) of an estimated combined 1,000 
m (1 km) of material from the higher grounds of the adjacent Venetia 
Kimberlite areas. The deposits on Krone-Endora occur in two layers with an 
average total depth of less than 15.0 metres from surface to bedrock, allowing 
for a very low-cost mining operation to be employed with the potential for 
near-term diamond production from a known high-quality source. Krone-Endora 
also benefits from the significant development of infrastructure and services 
already in place due to its location directly adjacent to the Venetia Mine. 
Since acquiring Krone-Endora the Company has completed the construction and 
installation of extensive infrastructure at the Project, along with the 
installation of a purpose built modular processing plant. Commissioning of 
the processing plant is now underway, and the Company's current efforts are 
designed to be a continuation of the ongoing advancement of the Project. 
About Diamcor Mining Inc: 
Diamcor Mining Inc. is a fully reporting publically traded junior diamond 
mining company which is listed on the TSX Venture Exchange under the symbol 
V.DMI, and on the OTC QX International under the symbol DMIFF. The Company 
has a well-established operational and production history in South Africa, and 
extensive experience supplying rough diamonds to the world market. Rather 
than exposing itself to the high risks and costs associated with exploration, 
the Company's focus is on the identification, acquisition, and operation of 
unique diamond projects with near-term production potential such as the 
Krone-Endora at Venetia Project. For additional information on Diamcor, 
please visit our website at www.diamcormining.com. 
On behalf of the Board of Directors 
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc. DTaylor@diamcormining.com 
Phone:(250) 864-3326
Website:www.diamcormining.com  
This press release contains certain forward-looking statements. While these 
forward-looking statements represent our best current judgement, they are 
subject to a variety of risks and uncertainties that are beyond the Company's 
ability to control or predict and which could cause actual events or results 
to differ materially from those anticipated in such forward-looking 
statements. Further, the Company expressly disclaims any obligation to 
update any forward looking statements. Accordingly, readers should not place 
undue reliance on forward-looking statements. This news release is not for 
dissemination in the United States, to "U.S. Persons" or to United States of 
America news services. 
WE SEEK SAFE HARBOUR 
Neither TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release. 
Mr. Dean H. Taylor President & CEO Diamcor Mining Inc. 
DTaylor@diamcormining.com 
Phone:(250) 864-3326 Website:www.diamcormining.com 
SOURCE: Diamcor Mining Inc. 
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CO: Diamcor Mining Inc.
ST: British Columbia
NI: MNG FIN  
-0- Nov/16/2012 19:41 GMT
 
 
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