Stornoway Diamond Corporation
TSX : SWY

Stornoway Diamond Corporation

March 29, 2006 09:15 ET

Stornoway and Motapa to Commence Drilling in Botswana

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2006) - Stornoway Diamond Corp. (TSX:SWY) and Motapa Diamonds Inc. (TSX VENTURE:MTP) are pleased to announce that the companies are about to begin a two phase drilling program on their 2.1 million acre land package in Botswana, Africa. Stornoway is funding the first $2 million in exploration costs under the terms of an agreement announced April 27th, 2005.

Phase I drilling will consist of a 16 hole drill program to test airborne magnetic anomalies identified in data previously collected by Motapa. Seven of these targets have already been delineated by ground geophysics and an additional nine anomalies should be delineated by the end of this month. Eight of the targets are within the Lebung license block located approximately 140 km east of the Gope 25 kimberlite. The remaining targets are within the Mokubilo and Matsitama license blocks located adjacent to the Sua Pan project. Prior heavy mineral sampling by Motapa has recovered kimberlite indicator minerals with encouraging diamond inclusion chemical compositions in these license areas. The targets were initially identified by a reinterpretation of high resolution airborne magnetic data over the licenses. Work on the program has commenced and consists of ground magnetic surveys conducted for the purpose of positioning drill collars. Drilling should begin by the second week of April and is expected to be completed by early May.

Phase II drilling will concentrate on the Sua Pan properties which comprise 573,000 acres of ground located approximately 50 km northeast of the Orapa diamond mine. The Sua Pan is a large dry lake bed that creates an environment not conducive to conventional heavy mineral prospecting techniques. Numerous kimberlite indicator minerals, as well as diamonds from five sample locations, have been recovered on the periphery of the Sua Pan which suggests the possibility of local kimberlite sources. Final results recently received from BHP's proprietary Falcon™ airborne gravity gradiometer system (11,511 line kilometres of gravity/magnetic survey) are presently being assessed and some thirty-five targets of interest have been identified so far. The airborne data suggests the property contains prominent structural trends that could be important controls on potential kimberlite emplacement. Drilling will commence when time and equipment allow.

Botswana is the world's leading diamond producer by value and its mines, Jwaneng, Lethlakhane and Orapa are amongst the most profitable. The country is democratically ruled, boasting a growing economy and a stable political environment.

Stornoway is one of Canada's premier diamond exploration companies with extensive landholdings (approximately 18 million acres) focussed in key project areas in northern Canada and Botswana. Stornoway has been involved in the discovery of 61 kimberlites since 2002, more than a third of which have proven diamondiferous.

Motapa is among the leading diamond explorers in Africa and controls over 11 million hectares (approximately 27 million acres) of diamond prospective properties located in Namibia, Zambia, Botswana, Gabon and Mozambique. Motapa's Chairman, Dr. John Gurney, is one of the world's leading authorities in the field of geochemical exploration for diamondiferous kimberlites and has been associated with successful diamond exploration programs around the world, including the discovery of the kimberlites that comprise the Ekati™ diamond mine.

The Botswana exploration program is conducted under the direction of Robin Hopkins, P.Geol. (NT/NU), a Qualified Person under NI 43-101.

On behalf of the Board

STORNOWAY DIAMOND CORPORATION

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

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