MOY Moydow Mines

RNS Number:1498B
Moydow Mines International Inc
30 July 2007





                Moydow Mines To Drill Diamond Licence in Angola

For Immediate Release

July 26, 2007

Toronto, Canada : Brian Kiernan, President and CEO of Moydow Mines International
Inc. (“the Company”) today announced that the the Company is to
commence drilling on the Dala kimberlite licence in Angola. A drill rig and
associated equipment for the programme have landed in Angola and are currently
being mobilized to the property. A contract for 5,000 metres has been signed
with an option to drill an additional 5,000 metres. The programme envisages core
drilling to an average depth of 120 metres using both HQ and NQ size core. These
core sizes, 2.5 inches and 1.9 inches in diameter, respectively, will result in
a sample big enough to assess the diamond potential.



The Dala licence comprises some 3000 square kilometres and is located in the
Lunda Sul province of north-eastern Angola, immediately adjacent to the city of
Saurimo. The licence is bordered both to the west and east by the BHP/Petra
Diamonds’ Alto Cuilo and Muriege diamond properties, respectively, and is
40 kilometres south of the Catoca Mine, the world’s fourth largest
producing kimberlite diamond mine.



The Company has been active in Angola since 2004 when it initially obtained the
rights to exploit alluvial diamonds on the Dala licence and subsequently
obtained the rights to explore for kimberlitic diamonds on the property. During
the course of alluvial exploration, the Company encountered mounting evidence of
the existence of kimberlitic bodies within the licence area. In September 2005,
the Company flew an aeromagnetic survey of the licence area which identified
several significant magnetic anomalies that are considered very prospective. In
a follow-up to the airborne magnetic survey, in 2006 and 2007, 102 grids, each
approximately one square kilometre, were covered by ground magnetic surveys.
These have been interpreted by diamond exploration specialists, Scott Hogg &
Associates Ltd. of Toronto, Canada. This interpretation resulted in outlining 19
high priority targets and 15 medium priority targets.



Mr Kiernan said: “We are very pleased that since our initial exploratory
work in 2004, we are now in a position to start drilling. The licence itself is
one of the most prospective areas for kimberlitic diamonds in the whole country.
As Moydow Mines have previously announced, the indications are that there is the
potential for some very significant kimberlitic bodies on the property.”



Under the terms of the agreement, Moydow Mines and its strategic partner,
Concord Minerals LLC will hold a combined 40% interest in the kimberlite licence
during the exploration phase with Moydow Mines presently holding a 35% interest
in the licence. Endiama will have a 51% interest and the balance will be held by
the local Angolan partner, Cimader.



Progress reports on the drilling programme will be released on an on-going basis
as results become available.



The Company also holds a 2% net smelter return royalty on a portion of the
Newmont owned Ahafo mine in Ghana, which began production in mid-2006. The
agreement is that the Company receives the royalty on all recovered ounces of
gold and silver produced from the Ntotoroso property after the first 1.2 million
gold equivalent ounces. To June 30, 2007 a total of 280,000 ounces has been
recovered from the Ntotoroso property.



Moydow Mines is engaged in the acquisition, exploration and development of
mineral properties worldwide. Corporate information is available on the Company&
rsquo;s website www.moydow.com. Moydow Mines International Inc is listed on the
Toronto Stock Exchange and the Alternative Investment Market (AIM) on the London
Stock Exchange under the symbol “MOY”. For further information
please contact Michael Power, Vice President, Corporate Development at
416-703-3751.



"Signed"

Brian Kiernan

President & CE0




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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