Recruiting in China

LONDON, ON, March 14 /CNW Telbec/ - The Company is pleased to announce as part of its corporate restructuring the appointment of Mr. Keith C. Minty, P. Eng., as a director who has also been elected as Chairman of the Board effective today, subject to TSX Venture Exchange acceptance. Mr. Minty has over 25 years of international mining and financial experience and since graduating as a Mining Engineer in 1978 from Queens University, has established an excellent reputation in the mining and investment communities. Mr. Minty, has previously held the executive position of President and CEO of North American Palladium Ltd., and was instrumental in developing that company into Canada's largest primary palladium producer. Mr. Minty received the "Mining Man of the Year" Award in 2002 for outstanding achievement in the Canadian Mining Industry.

"Keith is a versatile senior executive with demonstrated leadership strengths in developing and executing company strategies related to operations and management, financing and resource and reserve development and brings a solid track record of transforming resource companies into profitable enterprises in the mining industry" commented Sam Halbouni. "I stated previously that our objective was to build a strong management team and board of directors. The addition of Keith as Chairman of the board will provide management and the Company access to a person who has a strong corporate and mining background. With Keith's extensive international mining and financial experience, we look forward to his contribution in advancing China Diamond Corp. and its projects."

In addition, as mentioned in the March 8, 2006 news release, Mr. David Critoph, a Chartered Accountant and a former partner of the international accounting firm of Deloitte & Touche, joins the Company as a director. Mr. Critoph has extensive professional accounting experience having been actively involved in the financial industry since graduating in 1964 from the University of British Columbia

As part of the Company's further corporate restructuring, Mr. Halbouni, who remains as a director of the Company, will now be concentrating his efforts in China to represent the Company's interests as Chairman and legal representative of its joint venture companies, to assist management with the development of the Company's projects, and to liaise with government officials in order to foster relationships.

Additionally, Mr. Michael Michaud, P. Geo., President and CEO, will continue to lead his technical and operating team in existing operations operational improvements and evaluate and develop the company's China projects. Mr. Michaud with Mr. Minty's assistance will continue to improve the company's profile in the investment community.

"On behalf of the Company's management and the board of directors, I wish to thank Mr. Halbouni for his past efforts and his commitment to continue to support the Company" said Mr. Michaud, "For the past 3 years, under Sam's leadership, the Company has developed a strong management team and board of directors and has advanced the Company's gold and diamond projects that establishes a strong foundation for the future development of the Company. The management and the board of directors appreciates Mr. Halbouni's efforts in developing the Company and strongly support Sam in his new role which will focus his activities in China where he has acquired invaluable experience and developed strong relationships. The Company appreciates not only Sam's strong financial support, but also the commitment of his time and dedication to the Company. The Company is pleased with the addition of Mr. Minty and Mr. Critoph that adds considerable mining and financial expertise to the Board".

At the meeting of the directors of the Company on March 13, 2006, the board has approved the makeup of following committees:

Audit Committee: David Critoph (Chairman)
George Laforme
Keith Minty

Compensation Committee: Keith Minty George Laforme (Chairman)
David Critoph
Sylvio Escaloni

Governance Committee: Keith Minty (Chairman)
Lee Barker
Xie Datong
Sam Halbouni

As announced previously on March 8, 2006, the independent committee of the board of directors consisting of George Laforme, Lee Barker, Sylvio Escaloni and David Critoph will continue to take on the mandate to review of the Company's current corporate governance and expenditure authorization policies and procedures in March 2006. The committee expects to report its findings and recommendations to the Governance Committee and the board by the end of the first half of 2006.
Pursuant to the Exchange Bulletin dated February 15, 2006, the Company's securities remain halted pending clarification of the Company's affairs as previously announced on February 24, 2006 by the Company. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.