DIA MET/BHP NWT DIAMOND PROJECT.

KELOWNA, BC--(BUSINESS WIRE)--JUNE 27, 1995--DIA MET MINERALS LTD. (TSE, VSE: DMM.A DMM.B) Dia Met/BHP diamonds have substantially completed their 1995 winter field program on their Lac de Gras claim block. The program involved:

--14,750 meters of 270mm, 310mm and 350mm reverse circulation drilling on ten separate pipes

--410 meters of 150mm core drilling

--2,870 meters of small core delineation drilling on three pipes

--900 tonne surface sample

The program's objectives were to: bulk sample to prove quality and grade evaluations of the Misery pipe; obtain additional grade, diamond quality and geological information on the planned production pipes; and obtain initial bulk samples on five additional diamond bearing pipes.

The key objective of the winter field program was to recover sufficient diamonds from the Misery pipe, the second of five pipes to be mined under the proposed development plan. The objective was successfully accomplished by drilling 4,428 meters at Misery for 905 tonnes from which 3,885 carats were recovered. Combined with previous reported results the preliminary grade of the Misery pipe is calculated at 4.17 carats/tonne - an increase of 26 per cent in grade.

Results from Koala, Panda and Fox enhance or confirm previously reported grades.

Processing and diamond recovery operations continue for the fifth production pipe (Leslie) and for the initial bulk samples on the five new pipes. Grade results from Pigeon, of the five new pipes tested, yielded 60 carats from 154 tonnes for a grade of 0.39 carats/tonne.

Diamond recovery processing operations continue and another round of commercial evaluations is scheduled for July for the diamonds recovered to date.

Below is a summary of 1995 winter program results for pipes with diamond recovery complete:

PIPE METERS TONNES CARATS GRADE PREVIOUS RESULTS

DRILLED C/T TONNES C/T

Panda 1,262 217 275 1.27 3,143 0.93 Koala 1,185 205 505 2.46 1,193 0.75 Misery 4,428 905 3,885 4.29 132 3.3 Fox 1,587 251 65 0.26 7,766 0.27 Pigeon 905 154 60 0.39

Diamond recovery from the following pipes has not yet been completed.

PIPE METERS TONNES

DRILLED OF SAMPLE Leslie 3,531 714 Cub 435 90 Grizzly 744 136 Arnie 622 63 Mark 464 80

Mark, a pipe that is exposed (outcropping) on the surface, was sampled by a surface trench that extracted approximately 900 tonnes in addition to the 80 tonnes extracted by reverse circulation drilling. The samples are being processed through the Koala facility.

The federal permitting process for the NWT Diamonds Project remains on schedule. The joint venture partners received the final Environmental Impact Statement (EIS) guidelines from the Environment Assessment Review Process (EARP) panel on May 23, 1995. The partners have been preparing the EIS in anticipation of the guidelines and plan to submit the formal documents in July. This report represents three and one-half years of intensive sampling and exploration, more than two years of environmental baseline work, more than three years of extensive community consultation and more than two years of detailed engineering design.

During the summer, development work in the NWT has been scaled back to reflect the current status of the program. Exploration continues to identify and verify new pipe targets. To date in 1995, five new pipes, as yet to be analyzed, have been drilled on the property. This brings the total to 44 of which 39 are confirmed to be diamond- bearing. Minor construction and maintenance work on existing infrastructure that requires summer weather is ongoing and environmental monitoring and data collection is continuing in order to confirm the excising baseline data.

ON BEHALF OF THE BOARD OF DIRECTORS CHARLES E. FIPKE, GEOLOGIST & CHAIRMAN -0- The Toronto Stock Exchange and the Vancouver Stock Exchange have neither approved nor disapproved the information contained in this release.

CONTACT: Charles E. Fipke

Geologist & Chairman

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