Pangolin Recovers Diamonds From the Kimberlitic Magi Area, Tsabong North Project, Botswana

TORONTO, ONTARIO--(Marketwired - May 20, 2014) - Pangolin Diamonds Corp. (the "Company" or "Pangolin") (TSX VENTURE:PAN) is pleased to announce the recovery of micro-diamonds from a series of recently acquired core samples from the Magi kimberlitic sandy tuff at its 100%-owned Tsabong North project in south-west Botswana.

Highlights include:

• The Magi kimberlitic sandy tuff is diamond-bearing;

• Three micro-diamonds are recovered from a 3.7 m interval of kimberlitic sandy tuff in drill hole Magi-005. The micro-diamonds have a total carat weight of 0.000108 ct with one diamond retained on the 0.150mm sieve;

• A further ten split-core samples from drill hole Magi-008 drill hole are on route to Canada for diamond recovery;

• Drill hole Magi-007 is complete and split-core samples are being considered for diamond recovery;

• Both drill holes will test two recently discovered circular magnetic features within the Magi kimberlitic sandy tuff area.

The samples of drill hole from Magi-005 collected for diamond recovery at the kimberlitic Magi area have returned three micro-diamonds from two consecutive samples (sample 2304: 45.65 meters to 47.65 meters and sample 2305: 47.65 meters to 49.35 meters) with a total length of 3.7 meters. The samples are described as reddish brown, fine to medium grained sandy tuff with greater than 10% rock fragments of quartz and schist, with some micro faults/joints in-filled with siltstone. There are additional similar sandy tuff horizons in the drill hole available for sampling.

The Magi core samples were submitted to the Saskatchewan Research Council Geoanalytical Laboratories ("SRC") accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as a testing laboratory for diamond analysis using caustic fusion.

During the period between sampling and the delivery of these results Pangolin has continued to work on the Magi area. A ground magnetic survey was particularly successful in recognizing two separate magnetic features in close proximity to the sandy tuff area. The reader is encouraged to visit the Pangolin Diamonds website to view an image of the Magi magnetic targets and the location of the drill holes completed (www.pangolindiamondscorp.com/Tsabong.php).