Mr. Neil Foran reports

MARGARET LAKE DIAMONDS PROVIDES CORPORATE UPDATE ON NAME CHANGE AND NICKEL PROPERTIES

Margaret Lake Diamonds Inc. will not continue with its exploration efforts on the Old Nick and Letain projects, and will instead focus on further exploration and business development efforts on other opportunities. The company will not be pursuing any monetary amount paid toward the properties.

The company also announces today that, further to its press release of Feb. 14, 2022, it has postponed the implementation of its name change to Uranium Ninety Two Exploration Ltd. The name change, for the time being, will no longer be effective, and its implementation will be subject to the receipt of all required approvals (including the approval of the TSX Venture Exchange) for the proposed transaction with Gold Express Mines Inc. for its interest in the Mormon Lake uranium property consisting of 20 unpatented mining claims located near Payson, Ariz.

The ISIN number, the Cusip number and the trading symbols of the company remain unchanged.

We seek Safe Harbor.