Diamond Fields Resources Inc. announced the closing of its acquisition of Moydow Holdings Limited subject to final approval by the TSX Venture Exchange. The resignations of Phil Murphy, François Colette and Rod Baker from the Board shall become effective after receipt of the final approval of the Transaction from the TSX-V. Upon receipt of the final approval of the Transaction from the TSX-V, the DFR Board shall comprise of the following Non-Executive Directors: Brian Kiernan, Non-Executive Director and Chairman: Brian has over 25 years experience in the exploration and mining business in Africa and North America. Previously, Brian Kiernan was CEO of the successful exploration and development company Moydow Mines International Inc. where he oversaw the discovery and development of a world class gold deposit, Subika, which is now a Newmont mine called Ahafo.

Brian is also the Chairman of Minerex Drilling Contractors Limited, a privately owned West African drilling contractor and was previously the Executive Chairman of Moydow Holdings Limited. Carlo Baravalle, Non-Executive Director: Carlo co-founded AMED Funds, which has raised and invested approximately $0.5 billion in the last 10 years. One of three founding partners, he leads the structuring, financial and tax aspects of the investments, in addition to the structuring and operations of the Fund, investor relations and compliance.

He holds an MBA from INSEAD and has held numerous roles in the European and North American telecoms industry, including Director of the Corporate Finance Telecoms team at Warburg. In 2006 he co-founded NCP, a private equity fund of funds aimed mainly at Italian institutional investors, which raised over USD 150 million and is successfully invested in mid-cap and restructuring funds and co-investments globally. Len Comerford, Non-Executive Director: Len Comerford is Chief Executive Officer of PW Mining.

He is a Civil Engineer with more than 30 years experience in countries as diverse as Ghana, Burkina Faso, Mali, Tanzania, Nigeria, Cote D Ivoire, Republic of Congo and Sierra Leone where he has negotiated and executed major mining, civil and offshore engineering contracts. He was also previously Chief Executive Officer of Sierra Rutile Limited (previously Titanium Resources Group).