Stornoway Diamond Corporation (TSX-SWY) and Hunter Exploration Group are pleased to report that the AV9 kimberlite pipe has been confirmed as diamondiferous, returning 236 diamonds from caustic fusion of 307kg of drill core. The AV9 pipe was discovered in August of 2007 on the Aviat Project, Melville Peninsula, Nunavut, and represents the third pipe-like body identified within Aviat's Tremblay Corridor. A total of twelve significantly diamondiferous kimberlites have now been identified at Aviat, as shown on the map available at http://www.stornowaydiamonds.com/_resources/Kimberlite-Bodies.jpg.

Stornoway's CEO Eira Thomas stated: "We continue to add tonnage to our growing inventory of significantly diamondiferous kimberlite bodies at Aviat. We are particularly encouraged by the presence of several +1 mm stones suggesting a potentially coarse diamond distribution. Further work including ground geophysics and drilling to help determine the potential size of AV9 will be a priority for the company in 2008." Ms. Thomas further stated: "Stornoway has been involved in the discovery of more than 50 kimberlites in the eastern arctic to date, including those which have returned the best early stage microdiamond results in Canada outside of the Lac de Gras field. Stornoway remains optimistic that further work may lead to the identification of an economic diamond resource".

The AV9 kimberlite (Stornoway press release; August 23, 2007) is situated along the same regional structural feature that hosts the AV1 kimberlite pipe, and which is believed to have influenced emplacement of the other Aviat kimberlite pipes and sheets. As a result of the AV9 discovery, additional targets along this regional feature have been identified and prioritized for drill testing in 2008. AV9 is described as a transitional kimberlite pipe, containing both macrocrystic hypabyssal and transitional hypabyssal breccia phases. Kimberlite was intersected within a horizontal area measuring approximately 60 x 60 meters, and to a vertical depth greater than 100 meters, but neither the lateral nor vertical extent of AV9 are known at the present time. A total of 307.26kg (dry) of kimberlite core from AV9 was submitted for caustic fusion and returned 236 diamonds (stones retained on a 0.106mm square mesh sieve). The three largest stones had dimensions measuring 2.324x2.307x1.804mm, 1.871x1.529x1.531mm and 1.665x1.403x0.892mm. Further details are shown below.

The 2.2 million acre Aviat Project is located in eastern Nunavut on the Melville Peninsula and is a joint venture between Stornoway (74.8%), BHP Billiton (15.2%) and Hunter Exploration Group (10%). Exploration activities, including additional drilling at the AV9 pipe, are scheduled to begin in Q2, 2008, once weather and logistical considerations are more favourable. Stornoway also anticipates receiving Dense Media Separation diamond results for more than 70 tonnes of kimberlite from the AV1 (~45t) and AV2 (~27t) bodies late this quarter or early next quarter.

Stornoway Diamond Corporation is one of Canada's leading diamond exploration and development companies, involved in the discovery of over 150 kimberlites in six Canadian diamond districts. The Company benefits from a diversified diamond property portfolio, a strong financial platform and management and technical teams with experience in each segment of the diamond "pipeline" from exploration to marketing. Diamond results reported above are based on work completed by Microlithics Laboratories, Thunder Bay, Ontario, an independent mineral process laboratory currently providing services exclusively to Stornoway and its affiliates. Stornoway's diamond exploration programs are conducted under the direction of Robin Hopkins P.Geol. (NT/NU), Vice President, Exploration, a Qualified Person under NI 43-101.

On behalf of the Board
STORNOWAY DIAMOND CORPORATION
/s/ "Eira Thomas"
Eira Thomas
Chief Executive Officer