Stornoway Diamond Corporation (TSX-SWY) wishes to correct the press release titled "Stornoway Provides Exploration Update - On Schedule For First Renard Diamond Results In Q2", released May 14 at 6:00 am Pacific Standard Time. Due to a transposition error, the working capital amount appeared as $43 million instead of $34 million, the correct amount. 

It should also be noted that the $34 million working capital figure assumes receipt of the $15 million in cash payable upon completion of sale of the Buffalo Hills Property to Diamondex Resources Ltd. and Shore Gold Inc (see press release dated April 26, 2007).

On behalf of the Board
STORNOWAY DIAMOND CORPORATION
/s/ "Eira Thomas"
Eira Thomas
CEO