Stornoway Diamond Corporation has announced the completion of the summer drill program on the Renard 2 kimberlite pipe at the Renard Diamond Project in North Central Quebec. The company stated that the latest drilling has confirmed that Renard 2 is significantly larger than previously thought, and current data support a high confidence geological model that is approximately four times larger than the initial mineral resource estimate for the kimberlite pipe declared in 2008. The Renard Diamond Project, which includes the Renard kimberlite pipes and the Lynx-Hibou system of kimberlite dykes, is a 50:50 joint venture with SOQUEM.

Although detailed resource estimation work is still ongoing, Stornoway Diamonds has stated that the latest drilling is consistent with an estimate of between 14.8 and 17.8 million tons of potential mineral deposit in Renard 2.

Work ongoing to update the overall Renard mineral resource statement includes detailed grade estimation, an updated diamond valuation, and revised geological modeling on each of the Renard 2, 3, 4 and 9 kimberlite pipes and the Lynx and Hibou kimberlite dykes. Stornoway Diamonds noted that it expects to release the results of this work during this year’s 4th Quarter, along with a revised conceptual mine plan and economic assessment thereafter.

Matt Manson, President and CEO, commented: “Renard 2 has continued to grow dramatically in size as we have conducted more detailed deep drilling. In addition to having a dramatic and immediate effect on the projects potential mine life and economic return, the Renard 2 expansion is also prompting a new assessment of the potential for higher grade, deeper phases of kimberlite in the other Renard kimberlite pipes, most of which have not been drilled below 250m.”

Eira Thomas, Executive Chairman, commented: “We are confident that the updated economic analysis to be completed within the next few months will support moving forward with final feasibility and permitting work in 2010. Renard is now much larger than previously thought and given its location at the end of a planned road development in the heart of Quebec, the world’s best mining jurisdiction, we believe it has the potential to become a long-life, world class diamond mine.”