Sant Uk.10te Share Price (SAN)

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2008) - Sanatana Diamonds Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA)(AIM:SAN) is pleased to announce that the subscription for common shares of the Company by an affiliate of Kennecott Canada Exploration Inc., as previously announced on December 21, 2007, has now been completed. The affiliate, QIT-Fer et Titane Inc., acquired 641,025 common shares at a price of C$1.56 per share. The shares may not be traded on or through the facilities of the TSX Venture Exchange or otherwise in Canada until May 16, 2008. There are 55,006,096 issued and outstanding common shares of Sanatana Diamonds Inc. following the issuance of the above shares.

LONDON (Thomson Financial) - Sanatana Diamonds Inc said it will raise 13 mln cad through private placement to fund the exploration of its diamond properties in Northwest Territories, working capital and general corporate purposes.

The placing will be led by a syndicate of agents led by Genuity Capital Markets and including J F Mackie & Company Ltd, Haywood Securities Inc and Raymond James Ltd, and will consist of units and flow-through common shares.

The offering is expected to close on or before Feb 5, 2008, the company said, adding the agents will be granted an option to purchase up to an additional 15 pct of the number of units and flow-through shares sold to cover over-allotments.

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