Talmora Diamond-Issues Options for Directors and Officers and Annual General Meeting

TORONTO, ONTARIO--(Marketwire - July 3, 2012) - Talmora Diamond Inc. (CNSX:TAI) announces that it has granted a total of 1,840,000 incentive stock options to the directors and officers of the Company exercisable at a price of $0.05 per share expiring five years from the date of grant.

At the Annual General Meeting held on June 26, 2012, 53.85% of the Company's votes were cast in person or by proxy and approved the Financial Statements for the year ended December 31, 2011, elected Raymond Davies, Richard M. Hogarth, and Joan E. Fiset as Directors of the Company and re-appointed the Company's Auditor, McGovern, Hurley, Cunningham, Chartered Accountants, for the ensuing year. Leslie C. Little whose name had been put forward for re-election as a director passed away on June 3rd. The Company extends its sympathy to Leslie's family and will miss his valuable advice.

Following the formal business of the meeting a presentation of the Company's exploration program was made to all the shareholders in attendance. Data presented in the President's Message to the shareholders and the financing of a drill program was reviewed and discussed. Highlights are:

The Lena West area has indications of a major diamond field that has not yet been discovered. There is evidence that its numerous and widespread kimberlite indicator minerals (KIMs) and diamonds came from the direction of the Talmora property. The mineral chemistry of the Lena West KIMs does not match that of the Darnley Bay kimberlites to the north or that of the Dharma kimberlite to the southeast of Talmora but it does match that of the KIMs on the Talmora property.

The Talmora property contains many magnetic anomalies with characteristics of kimberlite pipes and they show a strong association with KIMs. It lies on a major regional structure associated with diamondiferous kimberlites and is enclosed within a mantle focused morphostructure favouring multiple kimberlite intrusions.

The Talmora property has not yet been tested by drilling. The global financial situation has made financing difficult but an attempt to fund a small program is being prepared.

The technical information contained in this release was compiled by Raymond Davies Ph.D., P.Eng., who is the President of Talmora and is a qualified person as defined by National Instrument 43-101.

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". 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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