Stornoway Diamond Corporation (TSX:SWY) (the "Corporation" or "Stornoway") is
pleased to announce that it has entered into a contract for Engineering,
Procurement and Construction Management ("EPCM") with SNC-Lavalin Inc. for the
Renard Diamond Project. SNC-Lavalin will provide EPCM services for on-site
utilities such as the liquid natural gas power plant, the processing plant
building, service buildings, water treatment facilities, and on-site
infrastructure. The agreement with SNC-Lavalin contemplates sub-contracted
services to be provided by AMEC Americas Ltd. (AMEC) and DRA Americas Inc. (DRA)
for certain specialized engineering and field support services relating to the
project's diamond processing plant and diamond recovery circuits. The total
capital cost of site facilities and infrastructure within the scope of the EPCM
contract is estimated at approximately C$425million. 


Patrick Godin, Stornoway's Chief Operating Officer, stated: "The SNC-Lavalin
EPCM team, with their extensive experience in Quebec project execution, will
provide an ideal complement to our own Montreal based project development team,
who will take the lead in the design and construction of the open pit and
underground mines. SNC-Lavalin were the principal authors of our November 2011
Feasibility Study and January 2013 Optimization Study, and have been undertaking
preliminary engineering and design work for the project under interim service
agreements with us during the period when we were completing our project
financing transactions. AMEC and DRA will work under the direction of
SNC-Lavalin and with Ian Holl, our recently appointed Vice President of
Processing, to support the design and construction of a diamond processing plant
fully optimized for the recovery of Renard's diamonds".


About the Renard Diamond Project

The Renard Diamond Project is located approximately 250 km north of the Cree
community of Mistissini and 350 km north of Chibougamau in the James Bay region
of north-central Quebec. In November 2011, Stornoway released the results of a
Feasibility Study at Renard, followed by an Optimization Study in January 2013,
which highlighted the potential of the project to become a significant producer
of high value rough diamonds over a long mine life. Probable Mineral Reserves,
as defined in National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101"), stand at 17.9 million carats. Total Indicated Mineral
Resources, inclusive of the Mineral Reserve, stand at 27.1 million carats, with
a further 16.85 million carats classified as Inferred Mineral Resources, and
25.7 to 47.8 million carats classified as non-resource exploration upside.
Readers are cautioned that the potential quality and grade of any target for
further exploration is conceptual in nature, there has been insufficient
exploration to define a Mineral Resource and it is uncertain if further
exploration will result in the target being delineated as a Mineral Resource.
All kimberlites remain open at depth. Readers are referred to the technical
report dated December 29th, 2011 in respect of the November 2011 Feasibility
Study for the Renard Diamond Project, and the technical report dated February
28th, 2013 in respect of the January 2013 Optimization Study, for further
details and assumptions relating to the project. Disclosure of a scientific or
technical nature in this press release was prepared under the supervision of
Robin Hopkins, P.Geol. (NT/NU), Vice President, Exploration, a "qualified
person" under NI 43-101.


About Stornoway Diamond Corporation

Stornoway is a leading Canadian diamond exploration and development company
listed on the Toronto Stock Exchange under the symbol SWY and headquartered in
Montreal. Our flagship asset is the 100% owned Renard Diamond Project, on track
to becoming Quebec's first diamond mine. Stornoway is a growth oriented company
with a world class asset, in one of the world's best mining jurisdictions, in
one of the world's great mining businesses.




On behalf of the Board                                                      
STORNOWAY DIAMOND CORPORATION                                               
/s/ "Matt Manson"                                                           
Matt Manson, President and Chief Executive                                  



This press release contains "forward-looking information" within the meaning of
Canadian securities legislation. This information and these statements, referred
to herein as "forward-looking statements", are made as of the date of this press
release and the Corporation does not intend, and does not assume any obligation,
to update these forward-looking statements, except as required by law.


Forward-looking statements relate to future events or future performance and
reflect current expectations or beliefs regarding future events and include, but
are not limited to, statements with respect to: (i) the amount of mineral
resources and exploration targets; (ii) the amount of future production over any
period; (iii) net present value and internal rates of return of the mining
operation; (iv) assumptions relating to recovered grade, average ore recovery,
internal dilution, mining dilution and other mining parameters set out in the
Feasibility Study or the Optimization Study; (v) assumptions relating to gross
revenues, operating cash flow and other revenue metrics set out in the
Feasibility Study or the Optimization Study; (vi) mine expansion potential and
expected mine life; (vii) expected time frames for completion of permitting and
regulatory approvals and making a production decision; (viii) the expected time
frames for the completion of the Route 167 extension and the financial
obligations or costs incurred by Stornoway in connection with such road
extension; (ix) future exploration plans; (x) future market prices for rough
diamonds; (xi) the economic benefits of using liquefied natural gas rather than
diesel for power generation; (xii) sources of and anticipated financing
requirements; (xiii) the closing of the Financing Transactions; (xiv) the
completion and release of the proceeds of the Public Offering and Private
Placements and funding of the Convertible Loan and the use of proceeds
therefrom, (xv) the completion, effectiveness or availability, as the case may
require, of the other elements of the Financing Transactions and the use of
proceeds therefrom; (xvi) the impact of the Financing Transactions on the
Corporation's operations, infrastructure, opportunities, financial condition,
access to capital and overall strategy; and (xvii) the anticipated timing of the
shareholder meeting. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always, using words
or phrases such as "expects", "anticipates", "plans", "projects", "estimates",
"assumes", "intends", "strategy", "goals", "objectives", "schedule" or
variations thereof or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved, or the
negative of any of these terms and similar expressions) are not statements of
historical fact and may be forward-looking statements.


Forward-looking statements are made based upon certain assumptions by Stornoway
or its consultants and other important factors that, if untrue, could cause the
actual results, performances or achievements of Stornoway to be materially
different from future results, performances or achievements expressed or implied
by such statements. Such statements and information are based on numerous
assumptions regarding present and future business prospects and strategies and
the environment in which Stornoway will operate in the future, including the
price of diamonds, anticipated costs and Stornoway's ability to achieve its
goals, anticipated financial performance, regulatory developments, development
plans, exploration, development and mining activities and commitments. Although
management considers its assumptions on such matters to be reasonable based on
information currently available to it, they may prove to be incorrect. Certain
important assumptions by Stornoway in making forward-looking statements include,
but are not limited to: (i) required capital investment and estimated workforce
requirements; (ii) estimates of net present value and internal rates of return;
(iii) receipt of regulatory approvals on acceptable terms within commonly
experienced time frames; (iv) the assumption that a production decision will be
made, and that decision will be positive; (v) anticipated timelines for the
commencement of mine production; (vi) anticipated timelines related to the
completion of the Route 167 extension and the impact on the development schedule
at Renard; (vii) market prices for rough diamonds and the potential impact on
the Renard Diamond Project; (viii) Stornoway's ability to consummate the
financing transactions set forth in the Agreement to enable it finance the
development and construction of the Renard Diamond Project; and (ix) future
exploration plans and objectives. Additional risks are described in Stornoway's
most recently filed Annual Information Form, annual and interim MD&A, the
amended and restated preliminary short form prospectus filed for the marketed
public offering and other disclosure documents available under the Corporation's
profile at: www.sedar.com.


By their very nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and risks exist that estimates,
forecasts, projections and other forward-looking statements will not be achieved
or that assumptions do not reflect future experience. We caution readers not to
place undue reliance on these forward-looking statements as a number of
important risk factors could cause the actual outcomes to differ materially from
the beliefs, plans, objectives, expectations, anticipations, estimates,
assumptions and intentions expressed in such forward-looking statements. 


These risk factors may be generally stated as the risk that the assumptions and
estimates expressed above do not occur, including the assumption in many
forward-looking statements that other forward-looking statements will be
correct, but specifically include, without limitation, (i) risks relating to
variations in the grade, kimberlite lithologies and country rock content within
the material identified as mineral resources from that predicted; (ii)
variations in rates of recovery and breakage; (iii) the uncertainty as to
whether further exploration of exploration targets will result in the targets
being delineated as mineral resources; (iv) developments in world diamond
markets; (v) slower increases in diamond valuations than assumed; (vi) risks
relating to fluctuations in the Canadian dollar and other currencies relative to
the US dollar; (vii) increases in the costs of proposed capital and operating
expenditures; (viii) increases in financing costs or adverse changes to the
terms of available financing if any; (ix) tax rates or royalties being greater
than assumed; (x) uncertainty of results of exploration in areas of potential
expansion of resources; (xi) changes in development or mining plans due to
changes in other factors or exploration results; (xii) changes in project
parameters as plans continue to be refined; (xiii) risks relating to the receipt
of regulatory approvals or the implementation of the existing Impact and
Benefits Agreement with aboriginal communities; (xiv) the effects of competition
in the markets in which Stornoway operates; (xv) operational and infrastructure
risks; (xvi) execution risk relating to the completion of the Route 167
extension; (xvii) the closing conditions of the Agreement, or the conditions to
the release of the proceeds of the Public Offering and the Private Placements,
not being satisfied; (xviii) failure to receive regulatory approvals (including
stock exchange), shareholder approval or other approvals or otherwise satisfy
the conditions to the completion, effectiveness or availability, as the case may
require, of each of the elements of the Agreement; (xix) failure to complete the
various elements of the Agreement on acceptable terms or at all; (xx) changes in
the terms of the various elements of the Agreement; (xxi) the funds of some of
the elements of the Agreement not being available to the Corporation; (xxii)
future sales or issuances of Common Shares lowering the Common Share price and
diluting the interest of existing shareholders; (xxiii) Stornoway being unable
to meet its diamond delivery obligations under the Streaming Agreement, and
(xxiv) the additional risks described in Stornoway's most recently filed Annual
Information Form, annual and interim MD&A and the amended and restated
preliminary short form prospectus filed for the marketed public offering, and
Stornoway's anticipation of and success in managing the foregoing risks. 


Stornoway cautions that the foregoing list of factors that may affect future
results is not exhaustive, and new, unforeseeable risks may arise from time to
time.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Matt Manson
President and CEO
416-304-1026 x101


Orin Baranowsky
Director, Investor Relations
416-304-1026 x103
Toll free : 1-877-331-2232


M. Ghislain Poirier
Vice-president
Affaires publiques de Stornoway
418-254-6550
gpoirier@stornowaydiamonds.com


Stornoway Diamond Corporation
info@stornowaydiamonds.com
www.stornowaydiamonds.com