Pangolin Identifies High Priority Drill Targets at MSC - Its Advanced Stage Exploration Project

TORONTO, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Pangolin Diamonds Corp. (TSX-V: PAN) (the "Company" or "Pangolin") is pleased to update its shareholders on its recent activity at its wholly owned advanced stage MSC Project in the Republic of Botswana.

Highlights Include:

• MSC Project ground-magnetic anomalies coincide with diamonds recovered from soil samples
• Detailed soil sampling programme in MSC Project recovers 16^th diamond
• Diamonds are located within four different zones within an area of 10 square kilometers
• Diamond distribution indicate multiple kimberlite sources within the MSC Project area
• A drilling programme is expected to commence in the fourth quarter of 2019

MSC Project Update

The MSC Project is a focussed 10 square kilometres area located in the Malatswae Prospecting Licenses - approximately 100 kilometres southeast of the Orapa Kimberlite Field.  Any kimberlite pipes discovered in the MSC Project area will define a new kimberlite field.

The MSC Project area is characterised by an unusual number of diamonds recovered from soil samples.  Thus far, we have recovered 16 diamonds from soil samples screened at +0.425 mm to 2.0 mm.  The diamonds are concentrated in four different zones within the MSC Project area, suggesting multiple diamondiferous kimberlite sources.

In addition to diamonds, we have found indicator minerals such as garnet, ilmenite, olivine and a mantle xenolith fragment in soil samples within the MSC Project area. In some cases, friable kimberlite has been observed attached to indicator minerals, suggesting a nearby source.

Recent detailed ground-magnetic surveys over four contiguous survey blocks outlined a series of anomalies consistent with geometrical features of kimberlite pipes. Two of the anomalies are spatially and directly associated with two diamonds and several garnets and ilmenites recovered from previous soil sampling programmes. Additional anomalies identified within the blocks have yet to be covered with soil sampling.

MSC Exploration Activities and Ongoing Work

The discovery of diamonds and indicators with kimberlite makes the MSC Project area a priority. Pangolin has two exploration teams active on the property conducting detailed ground-magnetic surveys, audio-magnetotelluric (AMT) surveys, and high-density soil sampling.

Ground-magnetic surveys are being conducted using GPS-integrated walk magnetometers.  Each individual survey block is surveyed along 10 metre spaced lines, both in a N-S and E-W direction.  The
two surveys (N-S and E-W) are then merged into a single grid.  Each grid covers an area of 300 m x 600 m. Once individual grids have been completed, they are merged with other contiguous ground-magnetic blocks to assess the larger surveyed area.  To date, 14 ground-magnetic blocks have been completed and processed.

Select four-hectare sample blocks (100 m x 400 m) are being soil sampled with a spacing of 25 m.  The 100 litre samples are processed and sorted for indicator minerals at Pangolin's facilities near Francistown.  To date, only one soil sample block has been processed.  A diamond was recovered from one of the samples, consistent with previous diamond recoveries reported from the MSC Project area.  Soil sampling programmes are ongoing.

Pangolin confirmed its exploration method in July 2018 with the discovery of a kimberlite dike some 24 km north of MSC. That discovery coincides a ground-magnetic anomaly on strike that needs to be investigated with high density soil sampling.

At current field work rates it is expected that drilling of the newly identified targets at MSC will take place in the fourth quarter of 2019.

For additional information on Pangolin and its respective projects, please refer to our presentation available on our website.

Quality Control and Quality Assurances
Quality assurance procedures, security, transport, storage, and processing protocols conform to chain of custody requirements.

The technical disclosure in this news release has been reviewed and approved by Leon Daniels PhD and a Qualified Person as defined by National Instrument 43-101.

About Pangolin Diamonds Corp. and Our Social Connections
For more information on Pangolin Diamonds Corp., please visit our website at;
http:// pangolindiamonds.com.

Graham C. Warren, Chief Financial Officer
Phone: +1.416.594.0473
Fax: +1.416.594.1630
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4a51a1fe-ca22-4d17-8600-3576c4f3c620