TAI Talmora Diamond Inc

Talmora Diamond Inc. (CNSX:TAI) is pleased to announce that it proposes to
complete a part brokered and part non-brokered private placement of up to
4,000,000 Units, comprised of either Hard Dollar Units and/or Flow-Through Units
at $0.05 per Unit, for gross proceeds of up to $200,000. The private placement
is expected to close not later than March 20, 2012.


Each Unit consists of one common share and one-half of one common share purchase
warrant. Each whole common share purchase warrant ("Warrant") entitles the
holder to acquire one common share for $0.10 until March 20, 2014. If during the
term of the Warrants the common shares of Talmora trade at or above Can. $0.20
for a period of 20 consecutive trading days, the Company may notify the warrant
holder to exercise the Warrants at a date no later than 30 calendar days after
this notification date or forfeit any unexercised Warrants at that time. All
securities issued pursuant to the financing are subject to a four month hold
period which expires on July 20, 2012. 


The Company will pay a cash commission on the brokered portion of the placement
at a rate to be negotiated. 


The Company currently has 45,431,679 common shares outstanding. Assuming full
take-up of the private placement there will be an additional 4,000,000 common
shares for a total of 49,431,679 outstanding. On a fully-diluted basis after
giving effect to the exercise of all outstanding share purchase warrants and
incentive stock options granted under its stock option plan the Company would
have 61,282,679 common shares outstanding.


The Flow-Through proceeds of the financing will be applied to exploration on the
Company's property in the Northwest Territories and the Hard Dollar proceeds
will be applied to working capital. A major financing for a drill program is
being planned and its timing will depend on the global financial situation.


Talmora holds 211 mineral claims (68,784 acres) straddling the 68th parallel on
the east side of the Lena West diamond area of the Northwest Territories. Most
of the claims are in the Inuvialuit Settlement Region with the remainder in the
Sahtu Settlemment Region.


Over $75 million has been spent in the Lena West area by other companies with
the recovery of numerous kimberlite indicator minerals (KIMs) and an
unprecedented 18 diamonds in field samples. No kimberlites have been found
except for the Darnley Bay and the Dharma kimberlites on a well defined
favourable structure that includes the Talmora property. 


Sampling on the Talmora property shows a strong correlation between KIMs in till
samples and magnetic anomalies with characteristics of kimberlite pipes. The
majority of Lena West KIMs (those west of Talmora) are very similar to those
from the Talmora property but differ from those of the Darnley Bay and Dharma
properties. There is every reason to believe that the Talmora property may be
the source of the abundant KIMs and diamonds of the Lena West area.


Talmora has targets ready for drilling. A drill program will cost a minimum of
$1,000,000 and will be carried out as soon as the funds have been raised and the
necessary permits have been obtained. 


The technical information contained in this release was compiled by Alan W.
Davies, P.Eng., P.G., who is the Vice-President of Exploration for Talmora. Alan
W. Davies is a qualified person as defined by National Instrument 43-101.


CAUTIONARY STATEMENT

This News Release includes certain "forward-looking statements". All statements
other than statements of historical fact, included in this release, including,
without limitation, statements regarding potential mineralization and reserves,
exploration results, and future plans and objectives of Talmora, are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from Talmora's expectations are exploration risks detailed herein and
from time to time in the filings made by Talmora with securities regulators.

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