SRC Stakeholder Gold Corp

Pangolin Diamonds Corp. (the "Company" or "Pangolin") (TSX VENTURE:PAN) wishes
to provide an update of its exploration activities in Botswana at its 100% owned
projects. 


Tsabong North Project, southwestern Botswana

At Tsabong North, one diamond drill continues to test exploration targets,
including the Magi kimberlitic target. Five diamond drill holes were completed
between January 24 and February 22, 2014. 


At Magi, a magnetic high, two holes - Magi005 and Magi006 - were completed.
Intervals of 36 meters and 46 meters of kimberlitic sandy tuff were intersected
respectively. Thirteen samples of the sandy tuff from drill hole Magi005 were
delivered to the Saskatchewan Research Council Laboratories ("SRC") in Canada
for micro-diamond recovery. Their work is underway. Additionally, mantle-derived
indicator minerals were recovered from follow-up samples as outlined in the news
release of February 25, 2014.


The other three exploration targets, GH1, GH2 and Martin2, were each drilled;
kimberlite was not intersected. 


Presently the drill is testing TSM062; a magnetic high exploration target. The
drill will then move to the Magi where further processing of the airborne
magnetic data has refined this target and two large circular features (300
meters by 300 meters and 400 meters by 400 meters) within the Magi are revealed.
Each will be tested with a single drill hole. Concurrently, a ground magnetic
geophysical survey is underway. This survey is expected to "fine tune" the
targeting and better describe the Magi architecture.


Jwaneng South Project, south-central Botswana

At Jwaneng South, one diamond drill continues to test exploration targets.
Difficult drilling conditions coupled with mechanical breakdowns (that have
since been addressed) resulted in the testing of only one target during the
period January 24 to February 22, 2014.


Drill holes CJ007a and CJ007b both intersected an unusual brecciated volcanic
rock with pervasive and intense alteration. Three core samples are presently
undergoing geochemical analysis and petrographic observations to characterize
the occurrence and its alteration. 


Ground magnetic geophysical surveys over a number of CJ targets provided the
Company with detailed targeting maps. The results of soil sampling completed
several months ago at Jwaneng South were received and a number of ilmenite
grains are recovered. The chemistry of the grains is yet to be determined.


The drill is presently testing CJ002, a large (300 meters by 300 meters) intense
circular magnetic low. A series of drill holes are planned within the CJ
Cluster; CJ008, CJ014 are next. In all there are twelve targets to be drilled
within this cluster as priority targets.


Mmadinare Project, east-central Botswana

At Mmadinare, the SWS21 volcanic body discovered in September 2013 is known to
have "sampled" the mantle. A few indicator minerals with diamond-compatible
chemistry were reported (refer to the Company news release of October 21, 2013).
Recent follow-up mineral chemistry is suggesting the possibility of a
multi-phase intrusive described as atypical for kimberlite or lamproite. Shallow
exploration pits through the cover allow for direct sampling of the intrusive.
Further pitting and trenching to recover samples for micro-diamond recovery and
allow for geological mapping are planned for the coming months.


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 100 years of combined diamond exploration experience in southern Africa.
This places the Company as one of the most experienced diamond explorers in
Botswana. 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.


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. Dr.
Daniels is a Qualified Person under National Instrument 43-101 rules.


For more information, 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

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