Mr. Neil Foran reports

MARGARET LAKE DIAMONDS INC. ANNOUNCES YARI NIEKEN TO JOIN BOARD OF DIRECTORS

Yari Nieken has consented to join Margaret Lake Diamonds Inc.'s board of directors. Mr. Nieken will serve as a non-executive, independent member of Margaret Lake's board, effective immediately.

Mr. Nieken has an extensive range of public company and capital market experience. As a founder of Foremost Capital Inc., an exempt market dealer, he continues to provide in-depth consulting for numerous publicly listed issuers in the health care, mineral extraction, technology and wellness industry. Throughout the years, he has served on the boards and as an officer of several public and private issuers. His involvement in those companies has led to the numerous financings that raised substantial capital in his career. He was formerly an investment adviser at Union Securities Corp., where he gained a variety of knowledge in the public market. Mr. Nieken holds a BA from the University of British Columbia and an MBA from the Sydney Graduate School of Management.

Jim Wiesenberg has also been appointed to Margaret Lake's advisory board. Mr. Wiesenberg has served and continues to serve on numerous boards, and worked in various capacities such as: chief strategy officer at Space Data, general manager for Viacom Cable, corporate development for Microband, vice-president of marketing for the PlayCable Company and manager of market development for Showtime. Mr. Wiesenberg has been engaged in both public and private markets since attaining his BA from New York University and his MBA from Harvard Business School.

About Margaret Lake Diamonds Inc.

Margaret Lake is a Canadian-based mineral exploration company engaged in the identification, review and acquisition of uranium assets. Margaret Lake owns a 100-per-cent interest in the Mormon Lake uranium property near Payson, Ariz. As part of its joint venture with Arctic Star Exploration, Margaret Lake holds an 18.5-per-cent interest in the Diagras diamond project, a Northwest Territories property. The property hosts 13 known kimberlites originally discovered by DeBeers in the 1990s, and Margaret Lake believes there is an opportunity to apply modern exploration techniques to define additional kimberlites.