Stornoway Diamond Corporation (TSX:SWY) (the "Corporation" or "Stornoway") is
pleased to announce the results of voting at its special meeting of shareholders
held earlier today on June 26, 2014 in Montreal, Quebec (the "Special Meeting")
on resolutions relating to the comprehensive financing plan for the Renard
Diamond Project which was first announced on April 9th, 2014.


Resolution Approving Transactions with Investissement Quebec

At the Special Meeting, approximately 96.6% of the votes cast by holders of
Common Shares (the "Common Shareholders") present (or represented by proxy) and
eligible to vote on such resolution (which excluded votes cast by Investissement
Quebec ("IQ") and its directors and officers), approved the resolution
authorizing a series of transactions involving various wholly-owned subsidiaries
of IQ, including a senior secured loan and various private placements of
securities of the Corporation and, consequently, such resolution was duly
adopted. 


Resolution Approving Various Private Placements

At the Special Meeting, approximately 98.0% of the votes cast by Common
Shareholders present (or represented by proxy) approved the resolution
authorizing the issuance by private placement, of Common Shares and securities
convertible into, or exercisable for, Common Shares to various parties to the
financing transactions and, consequently, such resolution was duly adopted.


Special Resolution Approving the Amendment to the Articles of Continuance

At the Special Meeting, approximately 98.3% of the votes cast by Common
Shareholders present (or represented by proxy), 100% of the votes cast by the
holder of the Corporation's Non-Voting Convertible Shares that were issued and
outstanding on the record date, and approximately 98.7% of the votes cast by
Common Shareholders and the holder of Non-Voting Convertible Shares, voting
together, present (or represented by proxy), approved the special resolution
authorizing an amendment to the articles of continuance of the Corporation in
order to cancel and repeal the Corporation's Non-Voting Convertible Shares and
the rights, privileges, restrictions and conditions attaching thereto and,
consequently, such resolution was duly adopted.


Final voting results on all matters voted on at the Special Meeting will be
published shortly on the System for Electronic Document Analysis and Retrieval
("SEDAR") website at www.sedar.com.


Next Steps

The approval by Stornoway's shareholders of these resolutions is a necessary
condition for the completion of the series of transactions contemplated in the
financing commitment agreement entered into by Stornoway with Orion
Co-Investments I Limited, Ressources Quebec (a wholly-owned subsidiary of IQ)
and the Caisse de depot et placement du Quebec on April 9, 2014, as amended on
May 7, 2014 and May 12, 2014. Final closing of these transactions will follow
upon the completion of definitive documentation between the parties and the
receipt of all remaining regulatory approvals. 


In addition, in contemplation of the anticipated closing of these financing
transactions in the coming days, Stornoway and Diaquem Inc. have agreed to
further extend the maturity date of Stornoway's existing $20 million unsecured
non-revolving bridge credit facility with Diaquem Inc. to the earliest to occur
of (a) the day on which the conditions precedent to the closing of the first
tranche of the senior secured loan as part of the financing transactions are
satisfied or waived, (b) June 30, 2017 and (c) the date on which the amount
outstanding under the bridge facility is accelerated in accordance with its
terms, and, in the event the closing of the financing transactions has not
occurred by July 31, 2014, the extended maturity date of the bridge facility
would be August 1, 2014. Accrued and unpaid interest will be added to the
principal amount under the bridge facility and will be payable at maturity in
cash. Under the terms of the amendment, Stornoway will no longer have the right
to satisfy up to 50% of the interest payable under the bridge facility in common
shares of Stornoway.


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 the anticipated timing of the
closing of the financing transactions. 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 the receipt of regulatory approvals on acceptable terms
within commonly experienced time frames. Additional risks are described in
Stornoway's most recently filed Annual Information Form, annual and interim
MD&A, the final short form prospectus dated May 12, 2014 and other disclosure
documents available under the Corporation's profile at: www.sedar.com.


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


Orin Baranowsky
Director, Investor Relations
416-304-1026 x103 or toll free at 1-877-331-2232


M. Patrick Godin
Vice-president et Chef des operations
450-616-5555
pgodin@stornowaydiamonds.com


Stornoway Diamond Corporation
Website: www.stornowaydiamonds.com
Email: info@stornowaydiamonds.com