Acquisition Of Interest In Utah Diamond Mountain Phosphate Project

TORONTO - Xplore Resources Corp. has entered into a definitive agreement to acquire a 51% interest in the Diamond Mountain phosphate project from Revival Gold Inc. The Project is located approximately 30 kms north-east of Vernal, Utah. The remaining 49% interest is held by Utah Mineral Resources LLC. (UMR).

Diamond Mountain is a 547-hectare State Mining Lease that offers an existing measured and indicated resource estimated to be 26.8 million tonnes ("Mt") averaging 19.67% P2O5 in addition to an inferred resource estimated at 23.1 Mt averaging 19.67% P2O5. The mineral resource estimate is supported by the Technical Report titled "Technical Report, Diamond Mountain Phosphate Project, Uintah County, Utah".