Big Red Diamond Corporation: Acquisition of Gold Property in the Michaud Township.

MONTREAL -- Big Red Diamond Corporation ("BRDC") is pleased to announce the acquisition of 26claim units covering an area of 2,288 hectares, namely in the Michaud township, known as the "Michaud" property.

The properties were acquired from Robert Robitaille and Douglas Lalonde of Timmins, and Sheldon Davis of Toronto, against the issuance of 360,000 common treasury shares of BRDC and the payment of a 1.5% NSR, half of which (0.75%) can be bought back by a cash payment of $900,000.

These properties were selected based on favourable geology for both precious and base metal potential.The property hosts untested geophysical anomalies.Grid cutting and geochemical surveys will be followed by mechanized auger drilling and then small bore diamond drilling.

The properties represent important additions to an established strategic land position in this gold district. Currently, Big Red is pursuing exploration on its 100%-owned properties: Valentine, Fournier, Munro and McCool.

The Corporation has also filed its Annual Audited Financial Statements for the period ended October 31, 2004 as well as the Notice, Information Circular and other required documents in regard to its General and Special Shareholders Meeting, in Toronto, on May 11, 2005, at 10:00 A.M., at The InterContinental Hotel, Wellington Room.

The Board of Directors has approved a Corporate Resolution whereby it seeks the approval of a majority of the uninterested shareholders for changes to the Corporation's Stock Option Plan. These changes would:

i) Reduce the exercise price of the options to acquire shares available under the Stock Option Plan from the current $0.70 to $0.20;

ii) Increase the number of shares reserved under the Stock Option Plan from 15% to 17,5% of the total shares issued and in circulation; and

iii) To allow eligible staff and executives the right to subscribe to an unlimited number of shares under the Stock Option Plan, in conformity with the applicable Securities' regulations.

The Directors unanimously recommend that the shareholders of the Corporation vote to approve the Resolution, since the eligible participants have obtained to date very limited compensation for their services while having been greatly involved in the Company's affairs leading up to and following its IPO.Under the new terms of the Plan, the currently granted options would see the exercise price reduced to $0.20 from $0.70.

The TSX Venture Exchange does not accept responsibility for adequacy or accuracy of this release.

Big Red Diamond Corporation (TSX VENTURE:DIA)