NEWS RELEASE.

July 23, 2012: Montreal, Quebec – Stornoway Diamond Corp. (Stock Profile – TSX: SWY) announced it will shortly commence a 5,000 tonne bulk sample program of the Renard 65 Kimberlite pipe, located at Stornoway’s 100% owned Renard Diamond Project in north-central Quebec.

The objective of the bulk sample program is to collect a large enough parcel of diamonds to allow the conversion of material that is currently classified as an Inferred Mineral Resource to an Indicated Mineral Resource and then, if warranted, to a Mineral Reserve. Five thousand tonnes will be acquired from a previously opened trench where the R65 kimberlite is exposed at surface at its northern extent, and will be processed initially at Stornoway’s 10 tonne per hour dense media separation plant located at the project site. Final diamond recovery will be conducted at Stornoway’s North Vancouver lab facilities. The program is budgeted at C$2.5million, and is scheduled to be completed by the end of the year. Given previously measured grades at the sampling site, it is expected that approximately 1,000 carats of diamonds will be recovered, which will be sent to Antwerp, Belgium for valuation.

Matt Manson, President and CEO, commented: “The Renard 65 bulk sample program announced today offers the opportunity to add a large tonnage of open pit reserves to the Renard mine plan. Renard 65 is the largest of the project’s kimberlites, and although its grade is lower than Renard 2 and 3, its diamond characteristics are similar and it is easily accessible from surface.”

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