Stornoway Diamond Corporation is pleased to announce that at the annual meeting of the Québec Mineral Exploration Association (the "AEMQ") held this week in Québec City, Stornoway was awarded the E3 Plus award for the "high level of environmental and social responsibility" shown in the advancement of the Renard Diamond Project. The award was accepted by M. Patrick Godin, Stornoway's Chief Operating Officer, M. Ghislain Poirier, Vice President, Public Affairs and M. Martin Boucher, Manager, Sustainable Development.
Matt Manson, Stornoway's President and CEO, commented: "This award recognizes the many years of high quality work undertaken to establish the environmental and social framework necessary for the successful development of the Renard Project. Over the past two years in particular this has involved many thousands of hours of diligent environmental study and baseline assessment. Throughout the project's permitting process, which is now nearing completion, our team has conducted regular community exchange meetings designed to tailor specific elements of the mine design to local concerns, and partnership agreements have been signed with the Crees of the Eeyou Itschee and the communities of Chibougamau and Chapais. I would like to acknowledge the excellent work undertaken by our environmental design consultants Roche Ltee. and Golder Associates, and Stornoway's community and sustainable development team, specifically Ghislain Poirier, Martin Boucher, Helene Robitaille and Patrick Houle."
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 Québec. In November 2011, Stornoway released the results of a Feasibility Study for Renard that 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 18.0 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$802 million, with a life of mine operating cost of C$54.71/tonne giving a 68% operating margin over an initial 11 year mine life. Readers are referred to the technical report dated December 29, 2011 in respect of 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. Our flagship asset is the 100% owned Renard Diamond Project, on track to becoming Québec'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.
On behalf of the Board
Source: http://www.stornowaydiamonds.com/