STORNOWAY DIAMOND CORP. $0.45 Toronto Symbol SWY

STORNOWAY DIAMOND CORP. $0.45 (Toronto symbol SWY; SI Rating: Start-up) (1-888-338-2200; www.sornowaydiamonds.com; Shares outstanding: 198.9 million; Market cap: $89.5 million) holds interests in over 15 diamond exploration properties in Canada and one in Botswana. TSE-listed Agnico Eagle holds a 13.1% interest in the combined company. Global mining giant Rio Tinto Limited holds a 12.9% interest. Stornoway’s projects include a 50% interest in the Renard diamond project in Quebec, which has the potential to become Quebec’ s first diamond mine. Bulk sampling has produced promising carat-grade recoveries The project is now in the pre-feasibility stage to define a total resource estimate. Renard is the company’s most advanced project, but close behind is the Aviat project on the Melville Peninsula in the eastern Arctic (located across from Baffin Island). This project is a joint venture between Stornoway (70%), BHP Billiton (20%) and Hunter Exploration (10%). The partners have discovered eleven kimberlites at Aviat. Early results have shown high sample grades of diamonds. Stornoway’s other priority target is its Churchill project in Nunavut. Stornoway and partner Shear Minerals have discovered diamond-bearing kimberlites on the property. Stornoway Diamond is still a buy for highly aggressive investors.

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