Election of Directors and Appointment of Officers

[Franko10 ™]

Diagem International Resource Corp.: Election of Directors and Appointment of Officers


11:10 EST Thursday, November 18, 2004

MONTREAL, QUEBEC--(CCNMatthews - Nov. 17, 2004) - DIAGEM INTERNATIONAL RESOURCE CORP. (the "Company") (TSX: VENTURE:DGM) is pleased to announce that Mousseau Tremblay, David Crevier, Antony Wood, Jacky Lewy, Philip Renaud, Carlos Alberto Pessoa Pardellas and Pierre Gauthier were elected directors at the annual and special meeting of shareholders of the Company held in Montreal on November 16, 2004. The shareholders also approved the continuation of the Company under the Canada Business Companies Act as well as the change of its name to DIAGEM INC. and the transfer of its head office to Montreal.

Subsequent to the annual meeting of shareholders, the Board of Directors appointed Paulo Andreazza as President of the Company. Mr. Andreazza, a professional geologist, has a long history of mineral exploration, having worked for St. Joe Minerals Group, Denison Mines Limited and Rio Tinto Zinc (RTZ). Specifically, Mr. Andreazza was responsible for diamond exploration for RTZ and subsequently for Diagem. The directors also appointed Mousseau Tremblay as Chairman and Chief Executive Officer, Martin Nicoletti as interim Vice-president Finance and David Crevier as Secretary.

For and on behalf of

DIAGEM International Resource Corp.

Mousseau Tremblay, Chairman & CEO

Certain of the statements made may contain forward-looking statements, which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. We do not expect to update forward-looking statements continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's Annual Information Form dated November 8, 2002 filed with the securities regulatory authorities. Diagem International Resource Corp. shares (Symbol: DGM) trade on the TSX Venture Exchange.

FOR FURTHER INFORMATION PLEASE CONTACT:

Diagem International Resource Corp.
Mousseau Tremblay
Chairman & CEO
[phone] or [phone]
[phone] (FAX)
Website: www.diagem.com
The TSX Venture Exchange has neither approved nor disapproved the form or content of this release.