Crown William Mining Corporation

Lydia Diamond Exploration of Canada Ltd.

Lydia Diamond Exploration of Canada Ltd.

April 23, 2013 22:13 ET

Crown William Mining Corporation Provides Management Update to Lydia Diamond Exploration of Canada Ltd. and Shareholders of Both Companies

MARKHAM, ONTARIO--(Marketwired - April 23, 2013) - Crown William Mining Corporation ("Crown William" or the "Company") announces that it has acquired 100% ownership of a corporation owning 2 mining leases and a patented lot comprising more than 250 additional acres near Bannockburn.

This new acquisition (the "Bannockburn" project) covers the Mono gold prospect, which was the site of advanced gold exploration, including extensive diamond drilling, underground exploration and bulk sampling during the 1980s and 1990s, resulting in historical indicated and inferred resource estimates. The Company has not completed the work necessary to have the historical estimates verified by a qualified person. The Company is not treating these historical estimates as current NI 43-101defined resources and should not be relied upon. Management has engaged a "qualified person" to review the historical data retrieved from Bannockburn and determine what steps should be taken to prepare a resource estimate in accordance with National Instrument 43-101.

In addition, Crown William currently owns a 100% interest, in three claim blocks in excess of 55,000 acres that comprise the Madoc Project located in Tudor, Grimsthorpe, Cashel and Effingham townships in southeastern Ontario near Madoc. Close proximity to Toronto provides the property with well developed infrastructure and excellent access. Pursuant to a technical report dated June 30, 2009 prepared by Gerald A. Harron, P.Eng. in accordance with NI 43-101 entitled, "Technical Report on Madoc Project, Ontario, Canada for Crown William Mining Corporation", a Phase 1 program of $1.3 million and Phase 2 program of $10.0 million which is not dependent on the Phase 1 program have been recommended.

The Phase 1 program will focus on the gold mineralization potential. This initial program will include geology, geophysical and geochemical compilations in order to assess the scope of work required to adequately explore the gold mineral potential of the property. A Phase 2 program will mainly continue gold exploration, and provide for drill testing of gold targets developed in the Phase 1 program.

Management is exploring opportunities which may become available in the capital markets for access to funds to take exploration forward. Crown William is currently a private issuer of which 26.1% shares are owned by Lydia Diamond Exploration of Canada Ltd. ("Lydia Diamond"). As part of a going public transaction, Lydia shareholders will receive shares of Crown William on a tax efficient basis. Further announcements will be made as plans are established.

Gerald A. Harron, P. Eng., a "qualified person" under National Instrument 43-101 and an independent consultant has reviewed the technical information in this press release.

This news release contains forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Contact Information