Jean-Francois St-Onge, Eng. of SNC Lavalin Inc. is the independent Qualified Person responsible for infrastructure design, the operating and capital cost estimate, and risk management.
Dr. Lynton Gormely, P.Eng. of AMEC Americas Limited is the independent Qualified Person responsible for process plant design.
Mr. William Bagnell, P.Eng. of AMEC Americas Limited is the independent Qualified Person responsible for underground mine design and mineral reserves.
Mr. Louis-Pierre Gignac, Eng. of G Mining Services Inc. is the independent Qualified Person responsible for open pit design and mineral reserves, and financial analysis.
Mr. Martin Magnan, Eng. of Roche Lte. is the independent Qualified Person responsible for permitting and environmental and social considerations.
Mr. Paul Bedell, P.Eng. of Golder Associates Ltd. is the independent Qualified Person responsible for geotechnical, water management and processed kimberlite containment facility design.
Ms. Valerie Bertrand, Geo. of Golder Associates Ltd. is the independent Qualified Person responsible for geochemical classification.
Dr. Richard Brummer, P.Eng. of Itasca Consulting Canada Inc. is the independent Qualified Person responsible for geomechanical and hydrogeological considerations.
Mr. Charles Gagnon, Eng. of Roscoe Postle Associates Inc. is the independent Qualified Person responsible for underground ventilation design.
Mr. David Farrow, P.Geo. (BC) of GeoStrat Consulting Inc. is the independent Qualified Person responsible for the preparation of the mineral resource estimate for the Renard Diamond Project.
All of these Qualified Persons have reviewed and approved the contents of this press release for which they are responsible.
Stornoway will file a NI 43-101 compliant technical report on the Optimization Study, representing an amended Feasibility Study, within 45 days.
About the Renard Diamond Project
The Renard Diamond Project is located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of north-central Quebec. In November 2011, Stornoway released the Renard results in the November 2011 Feasibility Study followed with the January 2013 Feasibility Study Optimization which highlighted the potential of the project to become a significant producer of high value rough diamonds over a long mine life. NI 43-101 compliant Probable Mineral Reserves stand at 17.9 million carats, with a further 17.5 million carats classified as Inferred Mineral Resources, and 23.5 to 48.5 million carats classified as non-resource exploration upside. All kimberlites remain open at depth. Pre-production capital cost stands at an estimated C$752 million, with a life of mine operating cost of C$57.63/tonne giving a 67% operating margin over an initial 11 year mine life. Readers are referred to the technical report dated December 29, 2011 in respect of the November 2011 Feasibility Study for the Renard Diamond Project for further details and assumptions relating to the project.
About Stornoway Diamond Corporation
Stornoway is a leading Canadian diamond exploration and development company listed on the Toronto Stock Exchange under the symbol SWY and headquartered in Montreal. Our flagship asset is the 100% owned Renard Diamond Project, on track to becoming Quebec's first diamond mine. Stornoway also maintains an active diamond exploration program with both advanced and grassroots programs in the most prospective regions of Canada. Stornoway is a growth oriented company with a world class asset, in one of the world's best mining jurisdictions, in one of the world's great mining businesses.
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