Diamond Fields Announces Appointment of John McGloin as CEO

VANCOUVER, Dec. 15, 2021 - Diamond Fields Resources Inc. (TSX-V: DFR) ("DFR" or the "Company") is pleased to announce the appointment of John McGloin as a director and Chief Executive Officer effective January 1, 2022.

Mr. McGloin brings a wealth of experience in the mining and exploration industry to the Company. He was the Chairman and Chief Executive officer of Amara Mining as it progressed the Yaoure project in Côte d'Ivoire from discovery through to feasibility study and oversaw a growth in the resource base from 200,000 oz to over 6 million oz. Subsequently this project has gone on to be the cornerstone of Perseus Mining's future growth following its acquisition of Amara Mining.

Mr. McGloin is a geologist and graduate of Camborne School of Mines and spent his early career as a geologist in Southern Africa before working across the continent within the mining industry and subsequently moving into consultancy. He joined Arbuthnot Banking Group following four years at Evolution Securities as their mining analyst. He is also the former Head of Mining at Collins Stewart. He has served as non-executive director on a number of mining and exploration companies listed in Toronto, New York and London. Mr. McGloin will relinquish all of his current roles except for his non-executive directorships of Perseus Mining Limited and Cornish Metals Inc..

Mr. Sybrand Van Der Spuy will assume the role of Chief Operating Officer responsible for the logistics, supply chains and security of the Company's projects throughout Africa. Mr. Van Der Spuy oversaw the discussions resulting in the Company's acquisition of Moydow Holdings, which will become the focus of the Company's exploration and development efforts going forward.

Al Gourley, Chairman of DFR said:

"We are delighted to have John as the new CEO of DFR. John is highly respected in the industry and has a strong track record of creating value through the development of mining projects in Africa. He has the right mix of geological, financial and management skills to lead the development of the highly prospective Labola project in Burkina Faso that DFR is in the process of acquiring.

"I would also like to thank Sybie for his contributions to DFR as CEO and look forward to continuing to work with him in his new role as we enter the next stage in the Company's development."

John McGloin said:

"I'm excited by the opportunity that DFR represents and have a clear vision for how to incrementally build value through the development of the Company's assets to create a new West African gold explorer."

The appointment of John McGloin is subject to the approval of the TSX Venture Exchange.

Notes to Editors:

DFR is a TSX Venture Exchange listed exploration and mine development company with assets in Madagascar and Namibia. In Madagascar, DFR is developing the Beravina Project, an advanced high grade hard rock zircon exploration prospect located in the west of the country, approximately 220km east of the port of Maintirano and close to a state road. DFR acquired Beravina from Pala Investments and Austral Resources in 2016. In Namibia, the Company owns several offshore diamond mining licenses including the ML 111 concession which has a ten-year mining license, effective until 4 December 2025. In 2018 and early 2019 mining undertaken by a contractor on the Company's ML111 license area produced two parcels of rough diamonds totaling 47,318.41 carats.

On 25 August 2021 DFR announced that it had entered into definitive agreements to acquire privately owned Moydow Holdings Limited ("Moydow") which holds interests in a number of West African gold exploration projects. Moydow is a privately owned, BVI registered, West African focused gold exploration business, which was formed in 2019. At closing Moydow will be controlled by DFR. Moydow has interests in gold projects in West Africa; Labola in Burkina Faso, Kalaka in Mali, Dagma, Paimasa/Mint and Dext in Nigeria.

Website: www.diamondfields.com

The Company's public documents may be accessed at www.sedar.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.

Forward-Looking Statements:

This release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact in this release that address activities, events or developments that DFR expects or anticipates will or may occur in the future are forward-looking statements or information. Often, but not always, forward-looking information can be identified by the use of words such as "aim", "aspire", "strive", "will", "expect", "intend", "plan", "believe" or similar expressions as they relate to DFR. Forward- looking information is subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking information. The forward-looking statements and information in this release include but are not limited to statements and information relating to regulatory approvals and the acquisition of Moydow.

Such statements and information reflect the current view of DFR. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause DFR's actual results, performance or achievements or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

There are a number of important factors that could cause DFR's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others the ability to obtain the required regulatory approvals. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statement prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

DFR cautions that the foregoing list of material factors is not exhaustive. When relying on DFR's forward-looking statements and information to make decisions, shareholders should carefully consider the foregoing factors and other uncertainties and potential events. DFR has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this release represents the expectations of DFR as of the date of this release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While DFR may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

SOURCE Diamond Fields Resources Inc.