Stornoway Diamond Corporation

Stornoway Diamond Corporation

March 01, 2010 14:20 ET

Stornoway Announces Management Appointments

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2010) - Stornoway Diamond Corporation (TSX:SWY) is pleased to announce the following changes to the Company's executive management team, effective immediately.

Ms. Zara Boldt, currently Stornoway's Vice President, Finance, has been appointed to the additional role of Chief Financial Officer. Zara, a Certified General Accountant, held progressive positions with several mineral exploration companies prior to being appointed to her current position with Stornoway in 2007. As Chief Financial Officer, Zara will be tasked with the key financial management and planning functions of the company as it transitions from an exploration stage to a project development stage over the next few years.

In addition, M. Ghislain Poirier has been promoted to the role of Vice President, Public Affairs. Ghislain joined Stornoway from SOQUEM INC in July 2006 as Director, Environment and Public Affairs, and has worked effectively since that time to build to strong relationships with key government and community stakeholders at the Renard Diamond Project in north central Québec. Ghislain is member of the Ordre des Ingénieurs du Québec and is currently the serving President of the Association de l'Exploration Minière du Québec.

Matt Manson, Stornoway's President and CEO, commented, "The appointments of Zara and Ghislain to more senior positions in the Company's management team recognizes the competence and authority each brings to their respective roles. It also marks the beginning of a growth period for Stornoway as we work to build a leading, Québec based mining team tasked with the development of Québec's first diamond mine."

Stornoway Diamond Corporation
Stornoway Diamond Corporation is one of Canada's leading diamond exploration and development companies, involved in the discovery of over 200 kimberlites in six Canadian diamond districts. The Company benefits from a diversified diamond property portfolio, a strong financial platform and management and technical teams with experience in each segment of the diamond "pipeline" from exploration to marketing.

On behalf of the Board
/s/ "Matt Manson"
Matt Manson
President and Chief Executive Officer

This document contains "forward-looking statements" within the meaning of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this document and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law.

Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events. These forward-looking statements include, among others, statements with respect to Stornoway's objectives for the ensuing year, as well as statements with respect to our beliefs, plans, objectives, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "potential", "expect", "intend", and words and expressions of similar import are intended to identify forward-looking statements. In particular, statements regarding Stornoway's future operations, future exploration and development activities or other development plans contain forward-looking statements.

All forward-looking statements and information are based on Stornoway's or its consultants' current beliefs as well as assumptions made by and information currently available to them concerning the presence of diamonds and its host rocks at the Project, diamond values, diamond recovery and breakage, anticipated financial performance, business prospects, strategies, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements.

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