Stornoway Diamond Corporation (SWY:TSX), Shear Minerals Ltd. (SRM:TSXV), BHP Billiton Diamonds Inc. and International Samuel Exploration Corp. (SAZ:TSXV) ("Samuel") announce today that a $300,000 high resolution airborne geophysical survey is underway at the Churchill West Diamond Property.
A detailed 3,658 line km magnetic-electromagnetic airborne geophysical survey has commenced at the Churchill West Property that is intended to follow up indicator mineral chemistry of interest in the southeastern region of the property. The area of interest will be flown at 100 meter line spacing. At present a total of 98 isolated magnetic targets suggestive of kimberlite have been picked from magnetic data acquired during a fixed wing aeromagnetic survey conducted in 2002. The current survey will provide a high resolution dataset to more accurately rank these targets plus identify any new targets in preparation for a comprehensive 2006 follow-up program. The current program will include the provision for on-site quality control and interpretation of the data by independent consultant Kit Campbell, P. Geoph. of Intrepid Geophysics, Vancouver B.C.
In addition Samuel has elected not to participate for its portion of the 2005 program expenditure and as a result will have its percentage ownership diluted accordingly. At the conclusion of this program Samuel's ownership is projected to be 47% and Shear, Stornoway and BHP Billiton will have a 27%, 18.5% and 7.5% interest respectively. Shear has assumed operatorship of the Churchill West Diamond Joint Venture.
The Churchill West project encompasses 514,000 acres located near the community of Rankin Inlet in the Kivalliq region of Nunavut, contiguous to the Churchill Diamond Project. In 2003 two kimberlites were discovered on the Churchill West property, one of which was diamondiferous. The 2005 Churchill West field program is under the supervision of Jennifer Burgess, P.Geol., a qualified person under NI 43-101.
On behalf of the Board
STORNOWAY DIAMOND CORPORATION
/s/ "Eira Thomas"
Eira Thomas
President