PATRICIAN DIAMONDS INC. (TSX-V: PXC) $300,000 PRIVATE PLACEMENT CLOSES

Ottawa, ON: Robin Dow, Chair and CEO of Patrician Diamonds Inc. (�"PXC�") announced today that it has received final approval of the TSX-Venture Exchange, and has closed its private placement. The Patrician placement consisted of 3,000,000 non-brokered units or flow-through units at a price of $0.10 per unit. Each unit is comprised of either one common share or one flow through common share, and one common share purchase warrant, exercisable at $0.15 into one common share or one flow through common share to 1 August 2009. The funds are to top up Patrician�fs cash position to over $1 million, prior to drilling the Sahtu claims in the Northwest Territories and for other projects. The following insiders have participated in the issue. Robin Dow, CEO, purchased 500,000 shares/$50,000. Paul MacDonell, Director, purchased 100,000 shares/$10,000. C. Stewart Wallis, Director, purchased 50,000 shares/$5,000. Eric Craigie, President, purchased 100,000 shares/$10,000. In Press Release #07-03 dated June 13, 2007 the release stated that the expiry date of the options granted was 15 June 2012. It should have read 1 June 2012.