DGE Diagem (Tier2)

Following an audience with the president of IBAMA in Brasilia, Brazil on August
27th, 2008, Diagem Inc. ("Diagem" or "the Company")(TSX VENTURE:DGE) is
confident that the embargo on the Chapadao Kimberlite Project can be lifted in
the weeks to come.  The invalidity of the embargo and related fines have been
fully documented and demonstrated by Diagem. The administrative and legal
process can be a lengthy one in Brazil but the IBAMA President, Mr Roberto
Messias has promised to rectify any prejudice caused to the Company by
processing the case in Brasilia in a swift fashion.


Denis Francoeur, CEO of Diagem commented: "The defence prepared by our Brazilian
legal counsel is based on independent engineering reports documenting the
invalidity of the embargo. The documented facts have further been reviewed by an
independent environmental firm from Curitiba, Brazil. The presentation of the
facts has also lead to the Company receiving political support from the
Brazilian Senate. This further strengthens the validity of Diagem's claims and
chance for a resolution to the issue. The president of IBAMA recognised these
facts and has promised to accelerate a decision through an internal review in
Brasilia, aimed at confirming the facts presented by Diagem and quickly
rectifying the situation."


Resolution of these matters will allow Diagem to focus energies on resuming
field activities on the Chapadao Project as soon as possible.  In addition, the
previous embargo on Property 213 will be reviewed in conjunction with the
Chapadao embargo. Release of the embargo on Property 213 would provide access to
a second pilot plant and Flowsort facility that would increase our processing
capability.


Just prior to the embargo on the Chapadao Project, the Company had recovered 658
commercial-size (coarser than 1.7mm) diamonds weighing 146.2 carats from 231
cubic metres of the Chapadao diamondiferous ash-fall layer in two bulk tests
(see press releases dated April 28 and May 28, 2008). The parcel included a 6.2
carat gem-quality diamond and a total of 14 diamonds (all gem or near-gem
quality diamonds) weighing more than one carat each.  Approximately 25 diamond
drill holes had also been completed to test kimberlite targets (see press
releases dated March 26 and April 15, 2008). All holes intersected crater facies
kimberlitic material. The diatreme or intrusive portion of the kimberlite bodies
has not yet been intersected. Additional geophysical work is contemplated
including ground gravimetic surveys to help with the drill targeting.


Environmental Impact Studies Ongoing on Several Properties

The Company is also active completing environmental impact studies on four
separate projects including: 1) Chapadao: Property 370/98 and the adjoining
Property 108 where a final exploration report has been approved; 2) Property 213
which is under application for a mining concession; 3) Property 214 which hosts
to the Collier 04 development block and the yet to be drilled high-potential
Acuri cluster of kimberlite pipes; and 4) on joint venture Property 1000 in the
21 de Abril River area.


Property 213

Property 213 has a NI 43-101 compliant diamond alluvial indicated resource of
207,000 cubic metres at an estimated grade of 0.22 carats per cubic metre
representing an in-situ content of 45,800 carats. During experimental mining in
2003, the Company extracted 3,755 carats at a grade of 0.31 carats per cubic
metre. Additional mineralized gravel deposits downstream the resource block have
been delineated along an eight kilometre section of the Sorriso Creek covered by
the property. Bulk sample tests must be conducted before a resource can be
confirmed.


21 de Abril River Area

In 2007, Diagem  announced (press release dated October 10, 2007) the discovery
of a new cluster of potential kimberlite pipes located 35 kilometers southwest
of the Chapadao Project and immediately upstream from the diamond-rich alluvial
flats of the 21 de Abril River.  The presence of more than a dozen kimberlitic
bodies is suggested by short-transient picro-ilmenite anomalies confirmed by
microprobe analyses. Intense surface weathering, however, has not permitted
confirmation of the kimberlitic nature of the host rock by petrographic and
geochemical means.  Deeper sampling will be required. Diagem has a 100% interest
in 80,000 hectares of mineral claims surrounding the 1000 Property which has
been idle since 2002 but which has seen significant historical artisanal mining
activity in the past.


This press release has been reviewed by Christophe Le Noan, M.Sc, Geo., Diagem's
qualified person under National Instrument 43-101. 


About the Chapadao Discovery

Previous field work by Diagem identified kimberlite targets suggesting the
presence of pipe-like kimberlitic bodies forming a tight cluster. Interpretation
was based on ground magnetic anomalies and field observations. Independent
petrographic, mineralogical and geochemical studies were conducted on the
surface exposures in 2007 and have confirmed the presence of crater facies
kimerlitic rocks at the targeted localities (press releases of October 10th and
November 27th, 2007).  A near-surface non-consolidated "ash-fall diamondiferous
kimberlitic" layer(s) is also present, associated to the crater-facies
kimberlitic rocks.  This particular unit also referred to as "Tuff-Ring Deposit"
varies in thickness between 0.5 and 2.0 metres (0.6 metres on average) occurs
over an extensive area and could be mined with the same economic parameters of a
gravel deposit. Preliminary bulk sampling, conducted in November and December of
2006, indicated in situ diamond grades ranging between 0.28 and 1.26 carats per
cubic metre (see press release dated January 11, 2007).  A total of 849 diamonds
coarser than 1.7 millimetres and weighing 155 carats were recovered, including a
4.67 carat diamond and eight diamonds ranging between 1.20 and 1.34 carats.  The
Chapadao area is also known for the occurrence of rare and valuable type IIa
diamonds often in a fancy pink colour (see press release dated November 13,
2007).  The Chapadao area is accessible year round and parts of the potential
deposits would be amenable to open pit mining which translates into low
extraction costs.


About Diagem

Diagem Inc. is an exploration-stage Canadian public company focused on primary
diamondiferous resources in the Juina Diamond Province of Mato Grosso, Brazil,
where it controls a large portfolio of mineral properties.  The Company has one
advanced development stage project and two recently discovered clusters of
kimberlite pipes believed to be significant sources of Juina's historical
alluvial diamond production.


Forward-looking statements

Except for statements of historical fact, all statements in this news release,
without limitation, regarding new projects, acquisitions, future plans and
objectives are forward-looking statements which involve risks and uncertainties.
 There can be no assurance that such statements will prove to be accurate;
actual results and future events could differ materially from those anticipated
in such statements.

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