Stornoway Diamond Corporation

Stornoway Diamond Corporation

May 13, 2005 06:00 ET

Stornoway Diamond Corporation: Aviat Spring Drilling Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 13, 2005) - Stornoway Diamond Corporation (TSX:SWY), BHP Billiton Diamonds Inc. (BHP Billiton) and Hunter Exploration Group wish to provide the following update on the Aviat Project.

Three phases of drilling are planned for the 2005 field season. The first phase commenced April 13, 2005, and focuses on geophysical anomalies situated within large lakes that cannot be drilled during the summer months. To date 7 geophysical targets have been drill tested with a total of 7 holes (762m). No definitive kimberlite bodies have been intersected to date, although a 1.93m intersection of very fine grained, clay rich, carbonate bearing, black intrusive rock was recovered from drill hole 05-AN204-01. The nature of this body is unknown at this time, but representative material will be submitted for petrographic evaluation as soon as possible. Anomaly AN204 is situated some 12km north of the previously described AV-1 kimberlite body and outside of the main Tremblay indicator mineral corridor.

President and CEO Eira Thomas commented, "This first phase of drilling is considered higher risk, and is designed to test priority geophysical targets only accessible from the ice. A wide variety of geophysical responses were selected over a broad geographical region both within and outside the Tremblay Corridor to gain a better understanding and aid in interpreting the geophysical datasets collected. We have yet to test any Falcon TM airborne gravity targets, but plan to do so later this month."

Elsewhere on the property, ground geophysical surveys have been completed on 32 targets with exploration activities continuing to focus on lake based anomalies. Drilling of ice targets will continue until breakup, currently estimated as late May 2005. Lack of water for drilling has precluded testing of certain targets.

The second phase of drilling will commence at break-up and will focus on land based targets in the vicinity of AV-1, where a total of six diamondiferous kimberlite bodies have been identified to date. Indicator mineral results from the summer 2004 Aviat till sampling program continue to be received from the process facilities and have identified new, anomalous concentrations of kimberlitic indicator minerals which remain unsourced at the present time (grain counts from the best single sample to date exceed 500 visually picked pyropes as well as thousands of other indicator mineral grains). Kimberlite AV5, which represents a surface concentration of diamondiferous hypabyssal kimberlite boulders situated in close proximity to AV-1, will be drill tested for the first time. AV-5 returned 93 diamonds from the processing of 48 kilograms of kimberlite collected in 2004.

The third phase of drilling will commence in mid to late July and will test targets generated from the 2004 till sampling results, prospecting activities and airborne/ground geophysical surveys.

To date, six diamondiferous kimberlites have been discovered on the property, including the AV-1 kimberlite which has produced an initial sample grade of 0.83 carats/tonne from the processing of 10.4 tonnes of kimberlite.

The Aviat Project is a joint venture between Stornoway Diamond Corporation (70%), BHP Billiton (20%) and Hunter Exploration Group and occupies 4.5 million acres on the Melville Peninsula, north of Hudson Bay.

Stornoway is a diamond exploration company with extensive landholdings (approximately 23 million acres) located in ten key project areas in northern Canada. Stornoway will directly spend more than $15 million to explore our properties and, together with its partners, will be exposed to more than $22 million in exploration expenditures in 2005.

Stornoway's diamond exploration programs are conducted under the direction of Robin Hopkins, P.Geol. (NT/NU), a qualified person under NI 43-101.

On behalf of the Board


Eira Thomas

This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the Toronto Stock Exchange and provincial securities regulators, most of which are available at The Company disclaims any intention or obligation to revise or update such statements.

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