Mr. Neil Foran reports

MARGARET LAKE APPOINTS YARI NIEKEN AS CEO, PRESIDENT AND CHAIRMAN

Margaret Lake Diamonds Inc. has named Yari Nieken as president, chief executive officer and chairman. Neil Foran, who has been acting as president and chief executive officer, will continue as a member of the board of directors.

Mr. Nieken has a wide range of public company and capital market experience, and is founder and president of Foremost Capital Inc. an exempt market dealer in British Columbia. He is currently a director of Veritas Pharma Inc., as well as the chief financial officer and director of Leis Industries Ltd., and has served on the boards of several public and private issuers, including PUF Ventures (president and chief executive officer), Lexagene Holdings Inc. (director) and Duport Capital Ltd. (director). He was formerly an investment adviser at Union Securities Corp., continues to be a registrant in good standing in the provinces of British Columbia, Alberta and Ontario, and has raised considerable capital in his career. Mr. Nieken holds an MBA from the Sydney Graduate School of Management and a BA from the University of British Columbia.

Mr. Foran commented: "The company is looking forward to working with Yari as he takes on the lead management roles. He brings a great wealth of experience to the company, specifically in areas of capital markets, growth strategies and marketing. Mr. Nieken's experience will be very valuable as Margaret Lake prepares to embark on its next steps of its journey."

About Margaret Lake Diamonds Inc.

Margaret Lake is a Canadian-based mineral exploration company. 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. Additionally, Margaret Lake owns a 100-per-cent interest in the Mormon Lake uranium property near Payson, Ariz.

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