Pangolin Reports Diamond Sizes from the Malatswae Project, Botswana

TORONTO, ONTARIO--(Marketwired - Sep 15, 2014) -

Highlights

• Pangolin has recovered three diamonds within 1 km²;
• Diamond characteristics suggest a near-by source;
• Clay-coatings on the diamonds suggest a kimberlitic source;
• Drilling will follow ground surveys now underway.

Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is pleased to announce the sizes of two diamonds recovered at its wholly owned Malatswae kimberlite project in east-central Botswana.

The table below summarized the results of the laboratory work performed on the two diamonds by MCC Geoscience Inc.

These diamonds were the subject of a new release by Pangolin on 12 September 2014 when the size information was not available; carat weight information is not available due to limitations with the laboratory.

This second table summarizes the results of the laboratory work performed on a single third diamond by MCC Geoscience Inc. and CF Mineral Research Limited. The third diamond was also recovered at Malatswae and was reported to the public in a news release dated 22 July 2014.

* previously Pangolin referred to this diamond as a "macro" sized stone; it was retained on the 0.600mm screen which is the CIM reporting standard.

All diamonds were described using a binocular microscope. In order to prepare the diamonds for scanning electron microscope (SEM) work at the University of British Columbia they each received a 200 angstrom-thick carbon coating under vacuum. Each was described while under high magnification as well as being subjected to back-scatter electron (BSE) and energy dispersive spectrometers (EDS) to allow for analysis of the materials attached to the diamonds.

Pangolin has now recovered three diamonds within a one square kilometre area on the Malatswae Project. The sizes, fragility and character of the three diamonds all suggest they are all proximal to source. Furthermore the presence of Mg-bearing clays on the surface of the diamonds suggests a kimberlitic source.

Follow-up surveys involving geochemistry and geophysics are underway or being planned for the very near future. Drilling will follow once targets are refined. A map showing the location of the diamonds on an airborne magnetic layer (vertical derivative) is available at the Pangolin website along with several photos of the diamonds:

http://pangolindiamonds.com/projects/malatswae.

Malatswae Diamond Project

The Malatswae Kimberlite Project covers 1,058km² and is located 70km southeast of the Orapa Mine. The Project area hosts a number of kimberlite targets. Previous work by Pangolin Diamonds demonstrated that the chemical compositions of garnets recovered in soil samples are distinctly different from the garnets from the Orapa kimberlite field suggesting that an undiscovered kimberlite may be found within the project area.

Quality Control and Quality Assurances

Quality assurance procedures, security, transport, storage, and processing protocols conform to chain of custody requirements. The diamond results reported here are based on observations and measurements by Dr. T. McCandless, MCC Geoscience Inc., North Vancouver, Canada who is an independent mineral consultant.

Pangolin exploration programs are carried under the supervision of Rick G. Bonner, P. Geol., who directs operations in Botswana for Pangolin Diamonds.

The technical disclosure in this news release has been reviewed and approved by Dr. Leon Daniels, Ph.D., Member of AIG, Chairman of the Board of Pangolin Diamonds, a Qualified Person as defined by National Instrument 43-101.

About Pangolin Diamonds Corp.

Pangolin Diamonds Corp. is building a leading diamond exploration and development company in the heart of Botswana, one of the world's leading diamond producing countries. 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.

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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.