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Pangolin Recovers Diamond from Malatswae Project, Botswana

TORONTO, ONTARIO -- (Marketwired) -- 07/22/14 -- Pangolin Diamonds Corp. (the "Company" or "Pangolin") (TSX VENTURE:PAN) is pleased to announce the recovery of a macro-diamond from a soil sample on its recently acquired Malatswae project prospecting licence PL247/2014. The project is located in north-central Botswana and is 100%-owned by Pangolin.

A regional soil sample, numbered MSC119, weighing approximately 40kg was collected and then processed at Pangolin's DMS plant in Francistown, Botswana. A concentrate was then independently examined in Gaborone by a specialist consultant who subsequently submitted the stone to C.F. Mineral Research Limited in Kelowna, Canada who confirmed the diamond.

The white diamond weighs 0.005484 carats and was retained on a standard Endecotts sieve with the mesh size 0.600mm. The diamond is therefore classified as a macro-diamond - greater than 0.500mm in at least one direction.

Photos of the diamond and a location map are available at Pangolin's "new" website on the Malatswae Project page: http://pangolindiamonds.com/projects/malatswae.

A field team is now on site collecting follow-up samples on a close-spaced grid (200m x 200m) to help determine the significance of this discovery.

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 laboratory work completed by C.F. Mineral Research Limited, Kelowna, Canada an independent mineral processing laboratory. Residues are retained and are available for review and audit.

Pangolin exploration programs are carried out 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.

For more information, please refer to the "new" website: http://pangolindiamonds.com

Follow us on Twitter: @pangolindiamond

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.

Contacts:
Pangolin Diamonds Corp.
Scott Young
Investor Relations
+1.416.488.1370
syoung@pangolindiamonds.com

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

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