Stornoway Diamond Corporation: Wales Island Exploration Update; Eight New Kimberlite Bodies Discovered in 2005.

VANCOUVER, British Columbia -- Stornoway Diamond Corporation (TSX:SWY), Strongbow Exploration Inc. (TSX VENTURE:SBW), and BHP Billiton Diamonds Inc. announced today that eight new kimberlite bodies have been discovered on the Wales Island property in the eastern Arctic, bringing the number of known kimberlite occurrences on the property to ten. These bodies comprise a new kimberlite field situated some 250 km southwest of the diamondiferous Aviat kimberlite cluster discovered by Stornoway and partners; and some 125 km northeast of the diamondiferous Qilalugaq kimberlite cluster discovered by BHP Billiton Diamonds. Samples from each of the kimberlite intercepts drilled this year have now been sent for geochemical and diamond analysis with results expected before year-end.

The 2005 exploration program, consisting of exploration drilling, ground geophysical surveys and till sampling, is now complete. During the program five new kimberlites were intersected by drilling and three narrow subcropping dykes were discovered by prospecting. Kimberlite W1, initially discovered in 2004, was tested by an additional three holes. Kimberlite W3, also discovered in 2004, could not be redrilled during the current program due to high water levels. Nineteen BQ holes were completed for a total of 1366m of drilling. Approximately 708 kg of drill core and 70 kg of surface subcrop were collected for caustic fusion analysis to determine diamond potential and are en route to the process facility. Based on the limited drilling completed to date, the true size, shape and orientation of these ten bodies cannot be determined.

The narrowest body, kimberlite W111, is located approximately 5.5 km east of kimberlite W2, along a distinct structural feature that extends across the property for a distance of 14 km. A linear magnetic high delineated by airborne geophysics is associated with this break and is also evident in the ground geophysical data from both W2 and W111, suggesting that kimberlite magmas may have exploited this regional feature.

Three parallel kimberlite dykes, each with apparent widths of greater than 0.5 m width and some 20 m apart laterally, were discovered about 200 m west of W1. The dykes can be traced in subcrop over a distance of 110 m, and by ground geophysical techniques over a total of 300 m. The strike extent of the dykes remains open both to the west and east of the W1 body. These dykes were not drilled but are interpreted as part of an east trending (approximately 070 degrees) kimberlite dyke complex along which W1 may represent a kimberlite pipe or blow. Approximately 70 kg of fresh kimberlite was excavated from the dykes for caustic fusion.

Three other geophysical targets were drill tested (one hole each) however kimberlite was not intersected and these targets remain unexplained. In addition to the drilling program, ground geophysical surveys were completed over 20 targets and 61 till samples were collected for indicator mineral analyses.

A summary table of drill intercepts is included below.

The Wales Island Project comprises a 300,000 acre island located in Committee Bay just west of the Melville Peninsula. Exploration of the Wales Island Project is governed by a joint venture agreement between Strongbow, Stornoway and BHP Billiton. Each partner retains an equal one third interest in the project, and Stornoway is the project operator. The Wales Island exploration program is conducted under the direction of John Armstrong, Ph.D., P.Geol. (NT/NU), a qualified person under NI 43-101.

Wales Island Kimberlite Intersections

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                                     Total    Kimberlite
              Drill                  Depth   From     To  Interval
Target         hole   Dip   Azimuth     (m)    (m)    (m)       (m)
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W2        05WI-2-03   -45       360   70.7   31.3   31.5       0.2
                                             43.9   50.7       6.8
          05WI-2-04   -45       214   78.0   27.3   27.5       0.2
                                             29.3   30.0       0.7
                                             30.6   30.9       0.3
                                             41.0   63.4      22.4
          05WI-2-05   -90        13  102.7   28.2   95.2      67.0(A)
          05WI-2-06   -55        21   86.9    N/A
W20      05WI-20-01   -90       360   27.4    N/A
W111    05WI-111-01   -90       180   29.9    N/A
        05WI-111-02   -45       144   60.4   31.9   32.9       1.0
        05WI-111-03   -45       210   57.0   32.6   34.4       1.8
                                             51.9   52.0       0.1
W10      05WI-10-01   -45       145   61.6   37.8   42.1       4.3
         05WI-10-02   -55       145   78.5   45.8   50.8       5.0
W9        05WI-9-01   -45       135   60.4   38.2   43.5       5.3
                                             44.7   45.8       1.0
                                             50.6   52.1       1.5
W1        05WI-1-02   -45        90   97.2    7.9   88.1      80.2
          05WI-1-03   -90        90   78.6    5.2   76.4      71.2
          05WI-1-04   -45       180   77.1   14.2   56.0      41.8(B)
                                             65.0   67.8       2.8
W47      05WI-47-01   -45       180   78.6   56.0   63.2       7.2
         05WI-47-02   -45       180   81.7   23.4   66.4      43.0(C)
         05WI-47-03   -55       180  106.4   59.0   84.3      25.3
W4       05WI-04-01   -90         0   25.6    N/A
W40      05WI-40-01   -50       175  107.7    N/A
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(A) Kimberlite intercept includes a 6.3 m country rock xenolith from
    66.5 m to 72.8 m
(B) Kimberlite intercept includes a 7.2 m country rock xenolith from
    33.5 m to 40.7 m
(C) Kimberlite intercept includes brecciated and altered country rock
    representing 60% of the reported interval

On behalf of the Board

STORNOWAY DIAMOND CORPORATION

Eira Thomas

This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the Toronto Stock Exchange and provincial securities regulators, most of which are available at www.sedar.com. The Company disclaims any intention or obligation to revise or update such statements.

Stornoway Diamond Corporation (TSX:SWY)