2005 Exploration Budget Announced for Wales Island Property


Stornoway Diamond Corporation (SWY:TSX), Strongbow Exploration Inc. (SBW:TSXV), and BHP Billiton Diamonds Inc. announced today the approval of a $1.5 million exploration program for the Wales Island Project, Nunavut. The project comprises a 300,000 acre island located in Committee Bay just west of the Melville Peninsula. Exploration of Wales Island in 2004 resulted in the discovery of the W1 and W3 kimberlites, and interpretation of airborne magnetic surveys completed last year indicate the presence of a number of additional priority targets within this new kimberlite field.

The 2005 exploration program will commence in early August and continue for approximately six weeks. Planned field work will include the collection of 100 till samples, completion of 15 to 25 ground geophysical surveys, and drill testing up to 8 priority targets including three over which ground geophysical surveys were completed in 2004. A small kimberlitic pebble was found down-ice of one of these untested targets during the 2004 field work. The W1 and W3 kimberlites, will also be drilled to test for additional kimberlite phases and recover a sample large enough to test for the presence of diamonds.  

Exploration of the Wales Island Project is governed by a joint venture agreement between Stornoway, Strongbow and BHP Billiton. Each partner retains an equal one third interest in the project, and Stornoway is the project operator. The Wales Island 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
/s/ "Eira Thomas"
Eira Thomas