DGE Diagem (Tier2)

Diagem Inc. (TSX VENTURE:DGE) ("Diagem" or "the Company") is pleased to report
that drilling has confirmed crater facies kimberlitic rocks on two targets on
its Chapadao project located in the Juina diamond district of Mato Grosso,
Brazil.


As of March 21, 2008, 780.5 metres of core drilling have been completed in 12
holes to depths ranging between 47 and 100 metres. The holes are being drilled
using a 100 metre grid pattern. Drill holes 01, 03, 05, 07 and 09 (in progress)
are testing target Pandrea 02 with an interpreted surface area of 31 hectares.
Holes 02, 04, 06, 08, 11 and 12 (in progress) are drilling the 11 hectare
Pandrea 05 target. Crater facies kimberlitic rocks have been intersected in
every hole. Hole 05 recorded crater facies kimberlitic rocks down to a depth of
98.86 metres.


Denis Francoeur, CEO of Diagem commented: "The purpose of the 7,500 metre drill
program is primarily to define the shape and composition of preserved kimberlite
craters while attempting to intersect the underlying carrot-shaped portion of
the kimberlite bodies referred to as the "diatreme". Geological observations
suggest that diatreme material may also outcrop in certain localities. The shape
and size of the kimberlite craters and of the underlying kimberlite diatremes
are a function of several factors including the nature of the host-rock.
Kimberlite explosions in less-competent host rocks will have a tendency to
create craters much larger than the underlying diatreme. It is early in the
drill program and the Chapadao kimberlite emplacement environment is still not
fully understood. We are confident, however, about the potential of the Chapadao
to host a significant primary diamond deposit."


Crater-facies kimberlitic rocks are identified on the basis of volcanoclastic
and/or tuffisitic layers with abundant picro-ilmenites exhibiting pristine grain
surface features characteristic of primary source rocks. These units alternate
with volcaniclastic rocks and/or reworked sedimentary units both with relatively
few diamond indicators. The latter are partly filling the kimberlite craters but
form an integral dilutive part of the crater-facies rocks. Crater facies-rocks
have been encountered in all the drill holes constituting the larger portion of
the drill core. The "Tuffisitic Kimberlitic Ring" deposit, described in more
detail under the "Bulk Sampling" section of the press release below, has been
identified in drill holes 01 and 05 at depths of less than 10 metres. Silicified
reworked breccias, mostly epiclastic in nature (i.e. with sedimentary clasts),
occur in six of the drill holes (04, 05, 06, 08, and 09) just before hitting
basement rocks. Heterogeneous, non-consolidated and pervasively oxidized
sedimentary rocks, interpreted to be Permo-Carboniferous Casa Branca Formation
host rocks, have been encountered below crater-facies kimberlitic rocks in three
of the diamond drill holes (01, 02, and 07). Eight of the 10 drill holes (02,
03, 04, 05, 06, 07, 08, and 10) have been terminated within competent
crystalline basement rocks.


Surface Bulk Sampling to Resume with Two Moveable Plants

A near-surface non-consolidated "ashfall diamondiferous kimberlitic" layer(s) is
also present, associated to the crater-facies kimberlitic rocks. This particular
unit also referred to as "Tuff-Ring Deposit" varies in thickness between 0.5 and
2.0 metres (0.6 metres on average) occurs over an extensive area and could be
mined with the same economic parameters of a gravel deposit. Auger drilling is
being conducted and current results are extending the deposit beyond earlier
results. Two moveable plants capable of processing 10 m3 per hour of the
non-consolidated surface diamondiferous layers outlined by auger drilling will
resume the bulk sampling of 200 to 300 cubic metre samples of this material in
early April. The resulting heavy mineral concentrates will be processed at the
Company's X-Ray Separator facility for the recovery of commercial-sized
diamonds.


About the Chapadao Discovery

Previous field work by Diagem has identified seven kimberlite targets as crater
facies kimberlitic rocks suggesting the presence of pipe-like kimberlitic bodies
forming a tight cluster. The interpretation was based on ground magnetic
anomalies and field observations. Independent petrographic, mineralogical and
geochemical studies have been conducted on the surface exposures in 2007 and
have confirmed Diagem's geological interpretation (press releases of October
10th and November 27th, 2007). Preliminary bulk sampling, conducted in November
and December of 2006, indicated diamond grades ranging between 0.28 and 1.26
carats per cubic metre (see press release dated January 11, 2007). A total of
849 diamonds coarser than 1.7 millimetres weighing in total 155 carats were
recovered, including a 4.67 carat diamond and eight diamonds ranging between
1.20 and 1.34 carats. Six other kimberlite targets have been identified but need
to be confirmed by drilling. The Chapadao area is also known for the occurrence
of a valuable rare type of diamonds often harboring a fancy pink color (see
press release dated November 13, 2007). The Chapadao area is accessible year
round and parts of the potential deposits would be amenable to open pit mining
which translates into low extraction costs.


Quality Control Measures

The material collected to date using HQ/NQ drill core tubes is primarily
oxidized unconsolidated material. Diagem's trained technicians are posted at the
drill site 24 hours per day to systematically hand pan a quarter of the core
along 30 cm intervals for the identification of kimberlite indicators. The core
is logged at the on-site core shack facility by Diagem's geologists where more
systematic hand panning for heavy minerals is conducted. Binocular microscopes
are used to aid identification of the kimberlitic indicators. A portion of the
indicators and their host rock will be subjected to chemical, microprobe and
petrographic analyses at reputable Canadian laboratories to confirm the field
observations. The program is under the supervision of Chief Geologist Paulo
Andreazza, who has more than 15 years of diamond exploration experience in
Brazil and Africa. Diagem is using the services of Brazil-based and ISO
certified diamond drill contractor Geosol. The drills operate with two 12 hour
work shifts five and a half days per week.


This press release has been reviewed by Christophe Le Noan, M.Sc, Geo., Diagem's
qualified person under National Instrument 43-101.


About Diagem

Diagem Inc. is a publicly listed Canadian exploration-stage company focused on
primary diamondiferous resources in the Juina Diamond Province of Mato Grosso,
Brazil, where it controls a large portfolio of mineral properties. The Company
has one advanced development stage project and two recently discovered clusters
of kimberlite pipes believed to be significant sources of Juina's historical
alluvial diamond production.


Forward-looking statements: Except for statements of historical fact, all
statements in this news release, without limitation, regarding new projects,
acquisitions, future plans and objectives are forward-looking statements which
involve risks and uncertainties. There can be no assurance that such statements
will prove to be accurate; actual results and future events could differ
materially from those anticipated in such statements.

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