Stornoway Diamond Corporation
TSX : SWY

Stornoway Diamond Corporation

November 28, 2008 10:21 ET

Stornoway Reports Diamond Counts From Two Kimberlites at Churchill

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2008) - Stornoway Diamond Corporation (SWY:TSX) has been informed by its joint venture partner, Shear Minerals Ltd. (TSX VENTURE:SRM), of caustic fusion results from the Killiq and Kahuna Breccia kimberlites at the Churchill Diamond Project, Nunavut, a joint venture between Stornoway and Shear. At the Kahuna Breccia, a total of 54 diamonds, including three macro diamonds (greater than 0.5 mm in two dimensions), were recovered from a 2.95 kg core sample of kimberlite stringers collected from one drill hole that tested the breccia. From the Killiq kimberlite a total of 176 diamonds, including five macro diamonds, were recovered from a composite 29.9 kg sample of kimberlite chips collected from two reverse circulation drill holes.

As previously reported (see press release of September 24, 2008, available at: http://www.stornowaydiamonds.com/investor_relations/news_releases/2008/index.php?&content_id=445), a total of nine new kimberlites were discovered from prospecting and drilling in 2008 at the Churchill Diamond Project, Nunavut. Based on visual interpretation, two of these new kimberlites, referred to as the Killiq and Kahuna Breccia respectively, were interpreted to be similar in type to kimberlites on the property that have returned high diamond grades. Samples were submitted to the Saskatchewan Research Council Geoanalytical Laboratories ("SRC"), accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as a testing laboratory for diamond analysis using caustic fusion. Diamonds from these kimberlites will be described, categorized and assessed for any breakage. For photographs of the diamonds, please see www.shearminerals.com.

Complete diamond recoveries were as follows:



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Sample 0.106 0.15 0.212 0.3 0.425 0.6 0.85 Total
Kimber- Weight mm mm mm mm mm mm mm Diamond
lite (kg) Sieve Sieve Sieve Sieve Sieve Sieve Sieve Count
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Kahuna
Breccia(1)
(08KD-10) 2.95 15 14 11 7 2 0 1 54
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Killiq(2) 29.9 76 49 27 13 9 1 1 176
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(1) The three largest diamonds measured 2.14mm x 1.64mm x 1.1mm; 1.24mm x
0.84mm x 0.36mm; 1.24mm x 0.78mm x 0.66mm
(2) The three largest diamonds measured 1.36mm x 1.1mm x 0.76mm; 0.94mm x
0.76mm x 0.68mm;0.84mm x 0.62mm x 0.54mm


The Kahuna Breccia kimberlite was discovered by drill testing a gravity low located adjacent to the main Kahuna trend. Drill hole 08KD-10 intersected intensely altered and brecciated granite over 52 m downhole. A series of eight kimberlite stringers (ranging from 1 cm to 15 cm wide) were encountered within the breccia zone and were selectively sampled to comprise a single 2.95 kg composite sample (results reported above).

The Killiq kimberlite was identified in an area up ice of high interest G10 pyrope mineral chemistry proximal to the PST003 kimberlite (see news release September 24, 2008, available at: http://www.stornowaydiamonds.com/investor_relations/news_releases/2008/index.php?&content_id=445). Based on ground magnetics, Killiq is interpreted as a 1.1 km long, north-south trending kimberlite estimated to be approximately 0.75 width, similar to the PST003 kimberlite dyke. Drill hole 08RC-034 was drilled at azimuth 090 at a -60 degree dip and intersected kimberlite between 32.5-34.0 m. 08RC-035 was drilled at azimuth 140 at a -60 degree dip and intersected kimberlite between 26.5-27.5 m. The 29.9 kg composite sample reported above comprises representative chip samples collected from the two kimberlite intercepts.

Other outstanding results from the 2008 program include additional microdiamond analyses from drilling and prospecting discoveries, indicator mineral results from till samples and macrodiamond results from approximately 26 tonnes of the Notch kimberlite.

The Churchill Diamond Project is owned 41.86% by Stornoway and 58.14% by operator, Shear, and is comprised of the diamond rights to more than 800,000 acres located near the communities of Rankin Inlet and Chesterfield Inlet in the Kivalliq region of Nunavut. Work is presently focused on continued exploration of new promising indicator mineral trains and geophysical anomalies as well as the evaluation of a system of significantly diamond-bearing, vertically-emplaced kimberlite dykes that have returned sample grades of up to 2.18 carats per tonne. The 2008 field program is under the supervision of Pamela Strand, P. Geol., of Shear, a Qualified Person under NI 43-101.

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 seven 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

STORNOWAY DIAMOND CORPORATION

Eira Thomas, Chief Executive Officer

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 www.sedar.com. The Company disclaims any intention or obligation to revise or update such statements.

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