GPR Great Panther Mining Ltd

Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin")
announces the discovery of upper terrace fluvial gravels, believed to originate
from the Orapa Kimberlite Field, at its Malatswae South Alluvial Diamonds
Project. Fluvial terraces are the remnants of earlier floodplains that existed
at a time when either a stream or river was flowing at a higher elevation before
its channel downcut to create a new floodplain at a lower elevation.


Six equally spaced exploration holes using a 165mm tricone bit were drilled to
obtain a profile across an alluvial target identified from detailed gravity
surveys within the Malatswae South Project area. Fluvial gravels were
intersected in all six holes, with the Kalahari Formation cover varying between
9 and 11 metres. The thickness of the basal gravels varied from 1 m to 4m. The
gravels consisted of a mixture of rounded siliceous pebbles, volcanic pebbles
and locally derived sandstone. The pebbles varied in diameter from 1 to 4 cm. In
all six holes the bedrock was sandstone.


The bedrock underlying these fluvial gravels has been intersected at
significantly shallower levels than previous historical drilling programs in the
area. The discovered gravels are interpreted to represent an upper, older
terrace.


The next phase for this area is a Ground Penetrating Radar ("GPR") survey
planned for early 2014. It will take place along the drill profile obtained for
ground proofing, prior to expanding the survey over the greater alluvial target
area. The GPR results will be used to target specific sites believed to be
associated with potholes and plunge pools. Mini-bulk samples will be recovered
from identified plunge pools and potholes. 


The Malatswae South Alluvial Diamond Project

Pangolin believes that the paleo channels buried under the Kalahari Formation
which it has targeted are the channels which drained the Orapa kimberlite field
during the Late Cretaceous through to approximately 2 million years ago. 


The history of diamonds in Botswana dates back to the late 1950s when an
exploration program by Selection Trust found the first alluvial diamonds at
Foley Siding. A subsequent exploration program by De Beers led to the discovery
of the 93 million year old Orapa kimberlite pipe in April 1967. The Orapa AK1
kimberlite was brought into production in 1971. The grade of the upper zones of
the kimberlite was approximately 2 carats per cubic metre. At a surface area of
116 hectares the diamond content of the kimberlite was approximately 2 million
carats per vertical metre. 


Geological modeling indicates that at least 25 metres of the Orapa kimberlite
had eroded, and it is considered likely that 100 metres of kimberlite could be
eroded. In addition to the contribution that the erosion of the Orapa kimberlite
could have made to any alluvial distribution of diamonds, there are at least
another 76 known smaller kimberlites within the Orapa kimberlite field,
including the Letlhakane diamond mine, the AK6 kimberlite (www.lucaradiamond.com
- Lucara Diamond Corp.), and BK11 and BK 16 (www.firestonediamonds.com -
Firestone Diamonds plc). The Orapa Mine is capable of producing approximately 12
million carats per annum.


The geology of the main alluvial gravels in South Africa is well known as a
series of channel and terrace gravels dating from the Late Cretaceous age (65
million years) to present. In Botswana the main drainage divide, known as the
Kalahari Schwelle, is suggested to have developed between 25 million years and 2
million years ago. Prior to this crustal upwarp, the drainage from the Orapa
area was in a southeast direction towards the Limpopo drainage. 


The zone selected for exploration for the alluvial channels is characterized by
the presence of large dolerite dykes transecting the area in an ESE-WNW strike
direction. The difference in rock competency between the dolerite dykes and the
host country rock is likely to give rise to preferential weathering of the
country rock and the subsequent development of plunge pools and potholes. In
addition, shallow angle thrust fault zones are potential diamond deposition
sites. It is expected that the country rock in this area will be sandstones and
basalts. Plunge pools and potholes are ideally suited for the concentration of
diamonds in an alluvial environment.


Analogies to this type of depositional environment can be found in South Africa
and Angola. The Octha Diamond Mine in the lower Orange River has been mined for
alluvial diamonds for more than 40 years. The deposit consists of a large plunge
pool developed at the contact of two rock types with different rock
competencies. Potholes and plunge pools on the lower Vaal River of South Africa
have historically produced high grades of alluvial diamonds. In the Lichtenburg
area of South Africa, rich alluvial gravels were mined from potholes and palaeo
alluvial channels. In Angola the Dunge Channel on the Cuango River has incised
deep channels and potholes into the Bhembe Sandstones. The lower parts of the
potholes reached grades where diamonds were clearly visible in the alluvial
sediments.


The Malatswae North Kimberlite Project

The Company has received results for the orientation drilling project it
undertook in the Malatswae North kimberlite project. The holes drilled
intersected basalt. This result has assisted in narrowing the search criteria
for kimberlites in the area for drilling in 2014. The presence of mantle derived
garnets within the project area that are unrelated to known kimberlites are
indicative of undiscovered kimberlites within the project area. 


The Malatswae North Kimberlite Project area is geologically similar to the area
in which Petra Diamonds Ltd. discovered the diamondiferous KX36 kimberlite. This
kimberlite was discovered after a significant number of exploration targets were
eliminated. Pangolin has reviewed the processes used by Petra Diamonds in
detail, and believes that by following a similar technical route the Company may
be successful in the discovery of kimberlites. 


Dr Leon Daniels, PhD, Chairman of the Board of Pangolin, stated: "The shallow
depth of the discovered fluvial gravels in the Malatswae South Alluvial Project
area is encouraging for the recovery of mini-bulk samples in the future. The
drilling results from the Malatswae North area are viewed as positive
information that will help bring us a step closer towards the discovery of
kimberlites in this complex area."


About the Malatswae Project

The Malatswae Project is located approximately 70 km southeast of the Orapa
Mine. It comprises two areas, north and south. The Malatswae North project is
focused on the discovery of kimberlites. Anomalous concentrations of kimberlite
indicator minerals with mineral chemistry distinct from any known kimberlites in
the area have historically been recovered from the area by Diamond Ventures and
African Diamonds. The Company believes undiscovered kimberlites are located
within the project area.


The Malatswae South project area, with the prolifically diamondiferous Orapa
kimberlite field in its headwaters, has alluvial diamonds as a focus. The Orapa
kimberlite field has no known discovered paleo-alluvial diamond deposits
associated with it. Pangolin believes there are alluvial deposits buried under
the Kalahari Formation which blankets the entire area. The company is
concentrating on an area where it believes the geological conditions are
appropriate for the formation of alluvial depositions of diamonds that eroded
from the Orapa kimberlite field.


The Company cautions that information regarding the Orapa kimberlites, the Octha
Mine, or the Lichtenburg or Cuango alluvials are not necessarily indicative of
the alluvials discovered by the Company, and information regarding the Petra
KX36 kimberlite is not necessarily indicative of the kimberlite targets being
explored by the Company. The Company further cautions that there is no guarantee
that the kimberlite and/or kimberlite targets and/or alluvial diamond targets
being drilled by the Company will return diamond results of any economic
significance.


About Pangolin Diamonds Corp.

Pangolin Diamonds Corp. is building a leading diamond exploration and
development company in the heart of Botswana, the world's leading diamond
producing country by value. 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 135 years of combined diamond exploration experience in southern Africa.
This makes the Company the most experienced diamond explorer in Botswana other
than De Beers Exploration and Debswana. The Company is equipped for exploration,
with two diamond drill rigs and a fully portable one-tonne per hour Dense Media
Separation Plant used to prepare samples and make diamond concentrates. Pangolin
is funded to continue its exploration programs into mid-2014.


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 Persons under National Instrument 43-101 rules.


For more information on Pangolin Diamonds Corp, please refer to
www.pangolindiamondscorp.com.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pangolin Diamonds Corp.
Scott Young
Investor Relations
+1.416.488.1370
scott@pangolindiamondscorp.com


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

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