TORONTO, Sept. 13, 2018 (GLOBE NEWSWIRE) -- As announced in July, Talmora Diamond Inc. (CSE-TAI) (“Talmora”) signed an Option Agreement granting Olivut Resources Ltd. (“Olivut”) the right to earn a 50% interest in part of Talmora’s Horton Project, namely the Seahorse Project, located in the Inuvialuit Settlement Region of Canada’s Northwest Territories, by spending $1,200,000 over two years and making a $200,000 payment to Talmora.

During August, Olivut, as the operator, mobilized crews and equipment to initiate a detailed airborne geophysical survey program on the Seahorse Project.  To date, unseasonable, extremely poor weather conditions continue to severely hamper field progress with the helimag survey since flying is not possible.  Reconnaissance work to assist with the planned drill program has been carried out.  If these adverse weather conditions persist, the work that cannot be completed this season will be rescheduled to be conducted during the spring when crews can benefit from lengthening daylight hours and hopefully, more stable air masses.  The project must be supplied by small aircraft and helicopter.

The Seahorse Project includes magnetic targets previously sampled by Talmora and a newly acquired Prospecting Permit covering a large magnetic anomaly at the focus of a kimberlite indicator mineral and ICP pathfinder element train recently identified in government assessment report records.

Talmora will retain a 100% interest and will independently explore two adjoining Prospecting Permits and a number of claims on which very little work has been done.

The scientific and technical portions of this news release were compiled, reviewed and approved by Alan W. Davies, P.Eng., P.G., who is the Vice-President of Exploration for Talmora Diamond Inc., a "qualified person" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

For further information please contact: Raymond Davies, President & CEO

Talmora Diamond Inc.   Email: [email protected]    Telephone 416-491-6771

CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements" which are not comprised of historical facts.  Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations.  Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.