Stornoway Diamond Corporation, (SWY:TSXV), Shear Minerals Ltd., and BHP Billiton today announce the most recent findings on the Churchill Diamond Project.

Preliminary geochemistry results from the 2003 till sampling program have been received, confirming the presence of additional G10 pyrope garnets on the Churchill Diamond Property. A total of 287 samples have now been processed; 135 of which, contained probe confirmed kimberlite indicator minerals, with one sample yielding 24 pyrope garnet and 6 eclogitic garnet grains. Probe confirmed kimberlitic indicators include pyrope garnet, eclogitic garnet and chrome diopside. Oxide minerals have yet to be picked from these samples. Of a total 248 pyrope garnet grains identified in 92 samples, 23% were subcalcic G10 garnets as defined by Gurney (1984). These initial results relate to samples collected down ice of high priority airborne geophysical anomalies. The data received to date is currently being interpreted but the balance of the results will be required to constrain the indicator mineral anomalies and to identify their potential source(s). These samples were picked by the Saskatchewan Research Council and microprobed by R.L. Barnett Consulting.

Additional regional samples are in the process of being picked by Overburden Drilling Management Limited and have recovered highly anomalous kimberlite indicator mineral counts estimated to be nearly 1,000 grains in each of the two samples. The grains include chromite, olivine, orange and pink pyrope garnet, ilmenite and chrome diopsides. The picroilmenites have thick alteration mantles suggesting a very proximal source. These samples are located more than 30 km away from all known kimberlites and possibly suggest a new kimberlite cluster on the property. Geophysics for this region is slated to commence over this region in early May.

In the 2003 season, 1,603 regional and target specific samples were collected on the property. These first sample results represent less than 20% of the total expected results for 2003, The remaining (1,316) samples are 76% processed, of which 61% have been picked for silicate indicator minerals and sent for probe confirmation. The final sampling results together with the results of a detailed airborne mag/EM survey now underway on the property will be used to help prioritize targets for drilling.

"The recovery of G10 garnets from samples specifically targeting geophysical anomalies is encouraging", said Pamela Strand, President of Shear Minerals Ltd., "This may suggest the presence of a diamondiferous source rock nearby. Remember that indicator mineral chemistries from the 2003 kimberlite discoveries did not result in any favorable G10 geochemistry, implying the source for these grains is yet to be discovered."

The Churchill Diamond Projects encompass more than 8.4 million acres located near the community of Rankin Inlet in the Kivalliq region of Nunavut. Airborne geophysical surveys have identified more than 400 geophysical anomalies on the property to date, of which 26 have been drill tested. This drill testing has identified 16 kimberlites on the main Churchill area and an additional two on the International Samuel Churchill West area. Shear has a 51% interest in the project and is operator. Stornoway Diamond Corp. and BHP Billiton have 35% and 14% interests respectively. The 2004 field program is under the supervision of Jennifer Burgess, P. Geol., a Qualified Person under NI 43-101.

On behalf of the Board
/s/ "Eira Thomas"
Eira Thomas

For further information, please contact the Company at 604-687-7545 or (888) 338-2200
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