Stornoway Diamond Corporation (TSXV-SWY) is pleased to report the results of a 2003 minibulk sampling program completed at the AV-1 kimberlite on the Aviat Project, Melville Peninsula, Nunavut. Processing of a 7.4 dry metric tonne kimberlite sample collected from a surface exposure of hypabyssal kimberlite at AV-1 has returned 6. 52 carats of diamonds yielding a sample grade of 0.88 carats per tonne. All diamonds recovered were greater than 0.85 mm using a square mesh sieve. The largest stone weighed 0.40 carats and was described as a white, transparent aggregate. Overall, the diamond population appears to be dominated by white transparent diamonds, with lesser amounts of brown diamonds and very little fibrous material. Predominantly dodecahedral followed by octahedral crystal forms as whole crystals and fragments, were observed. A detailed diamond study, including check weighing and analysis of morphology is planned in the coming months.

Eira Thomas, President and CEO stated, "We are encouraged that a sample from the first kimberlite identified in this vast, underexplored region has returned grades that place AV-1 amongst the top 4% of kimberlites discovered worldwide. Further work on the breccia phase at AV-1, which appears to have a coarser diamond distribution, as well as drill testing of additional targets in the vicinity of AV-1 this Spring, is likely to enhance these positive early-stage results."

In September 2003, a 13.5 m x 76.5 m exposure of hypabyssal kimberlite at AV-1 was stripped of overburden, washed and subdivided into a series of measured 1m2 panels. The rock surface was then broken by jackhammers, and equal amounts of the resultant loose material were collected from within each panel to ensure representative sampling of the outcrop. Sample material was shipped to SGS Lakefield Research Limited, crushed in stages and processed through a one tonne per hour dense media separation plant to produce a series of mineral concentrates from which the diamonds were extracted. Sample collection and processing was completed under the supervision of Dean Besserer, P. Geol. a Qualified Person as defined by NI 43-101.

The sample grade reported above is not considered to be representative of the entire AV-1 kimberlite body. AV-1 has been tested by seven inclined drill holes to date; interpretation suggests that AV-1 is a multiphase body, approximately 160m in length and between 40m and 60m in width. The kimberlite remains open to depth and to the east. A second phase of kimberlite, described as kimberlite breccia and distinct from the outcropping hypabyssal kimberlite that was minibulk sampled in 2003, was intersected by drilling in six holes and is not exposed at surface. Previously reported caustic fusion results from drilling indicate that the kimberlite breccia has a diamond distribution that is potentially coarser than the hypabyssal kimberlite exposed in outcrop. One goal of the 2004 program will be to collect approximately four tonnes of kimberlite from this second phase to test for diamonds greater than 0.85mm.

Stornoway presently holds varying interests in more than 12 million acres of prospective diamond properties throughout the Melville Peninsula, including a 70% interest in the 5.5 million acre Aviat Project which hosts the diamondiferous AV-1 and AV-2 kimberlites. Aviat is a joint venture between Stornoway (70%), BHP Billiton (20%) and Hunter Exploration Group (10%).

The 2004 exploration program on the Aviat Project has now commenced. Mobilization began in late March, the ground geophysical survey crew is onsite and drilling will start within one week. In addition to collecting a larger sample from the second kimberlite phase at AV-1, drilling will also test four to six targets under lakes in the immediate vicinity of AV-1. Ground checking of priority geophysical targets and extensive prospecting within anomalous indicator mineral trains will precede a larger drilling campaign scheduled to commence in July/August of 2004.

Complete indicator mineral data from the 2003 regional/detailed till sampling work are not yet available, but results to date show that AV-1 lies within a three kilometer wide distribution train. Significantly anomalous till samples with pyrope, eclogite and ilmenite populations have been recovered up to two
kilometers up-ice from AV-1, and suggest the presence of other source bodies in addition to the diamondiferous AV-2 body discovered during geophysical anomaly checking in 2003. Strongly anomalous regional till samples (50+ indicator mineral grains per sample and/or lithic kimberlite fragments) situated well outside of the prominent mineral train hosting AV-1 further suggests the possible presence of other kimberlite clusters on our landholdings on the Melville Peninsula.

Thomas stated, "Although final results from the 2003 sampling campaign are still weeks away, we have already identified several geochemical target areas that we expect will lead to new kimberlite discoveries in 2004."

Stornoway has been involved in 20 kimberlite discoveries in Nunavut since 2002 and currently maintains interests in more than 20 million acres of prospective landholdings throughout northern Canada. A preliminary budget of $18 million has been approved for diamond exploration on these landholdings in 2004. Stornoway's contribution to the budget is expected to exceed $11 million.

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
** Website: www.stornowaydiamonds.com
Email: info@stornowaydiamonds.com **

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