David M Douglas Appointed as Corporate Secretary
June 24, 2005
Stornoway Diamond Corporation (TSX-SWY) is pleased to announce the appointment of David M. Douglas, CA as Corporate Secretary. Mr. Douglas has been involved in the investment industry for over twenty years and has served as Director of several private and public companies. Prior to joining the Company, Mr. Douglas was a Senior Corporate Finance Analyst with a regional brokerage firm where he managed numerous public company transactions and financings. Mr. Douglas is a Chartered Accountant and a graduate of the University of British Columbia.
Motapa Joint Venture
Stornoway has issued 374,855 common shares to Motapa Diamonds Inc. fulfilling the first obligation of the joint venture agreement to explore for diamonds in Botswana, announced April 27th, 2005. The securities issued have a hold period expiring October 7, 2005. Exploration on the 5.4 million acres of prospective diamond properties will begin in the near future on the Sua Pan, a property approximately 50 km northwest of the Orapa diamond mine.
Stornoway is one of Canada's premier diamond exploration companies with extensive landholdings (approximately 29 million acres) in northern Canada and Botswana. Stornoway has been involved in the discovery of 33 kimberlites since 2002, almost half of which have proven diamondiferous. Stornoway will directly spend more than $15 million (Cdn) to explore its properties and, together with its partners, will be exposed to more than $22 million (Cdn) in exploration expenditures in 2005.
On behalf of the Board
STORNOWAY DIAMOND CORPORATION
/s/ "Eira Thomas"