Stornoway Announces the Successful Completion of Federal Public Consultations for Renard

Stornoway Announces the Successful Completion of Federal Public Consultations for Renard in Mistissini and Chibougamau

MONTREAL, QUEBEC--(Marketwire - June 8, 2012) -Stornoway Diamond Corporation (TSX:SWY) is pleased to announce the recent successful completion of public consultations on the Renard Diamond Project held by the Canadian Environmental Assessment Agency ("CEAA"), the Department of Fishery and Oceans, Environment Canada and Natural Resources Canada. The consultations were held in Chibougamau and Mistissini between June 5th and 7th to solicit public feedback in relation to the ongoing assessment of the Renard Environmental and Social Impact Assessment ("ESIA") by the federal government regulators. The consultations were well attended, and the responses received were overwhelmingly positive.

The Renard Diamond Project falls under the environmental protection regimes of the Canadian Environmental Assessment Act and the James Bay and Northern Québec Agreement (the "JBNQA"). The Renard ESIA was filed with both the CEAA and the Quebec Ministère du Développement Durable, de l'Environnement et des Parcs ("MDDEP") on December 28, 2011. Public consultations on the ESIA, held separately by the federal and Quebec regulators, are an important step in the mine permitting process, and are designed to gauge the overall social acceptability of the proposed development. It is currently expected that public hearings on Renard to be hosted by the Review Committee of the JBNQA ("COMEX") will be scheduled for later in the summer, making the project eligible to receive its Global Certificates of Authorization thereafter.

The Renard ESIA, as well as the project's Environmental Baseline Study and Restoration Plan, are available in their entirety on Stornoway's website (www.stornowaydiamonds.com/renard/esia).