25 April 2014
Margaret Lake Diamonds Inc. (the “Company” or “Margaret Lake”), is pleased to announce that it has received final approval from the TSX Venture Exchange (the "Exchange") for its Qualifying Transaction. Pursuant to an assignment agreement dated March 14, 2014 (the “Assignment Agreement”) with Harsbo Minerals Inc. (“Harsbo”), Margaret Lake was granted the sole and exclusive option (the "Option") to acquire up to a seventy percent (70%) undivided interest in nineteen (19) mineral claims located in the Northwest Territories, Canada, known as the Margaret Lake Diamond Property (the “Property”), which Property lies contiguous and to the north and west of Kennady Diamonds Inc.'s Kennady North Project. In consideration of the assignment of the Option, on closing Margaret Lake issued Harsbo 6,000,000 escrow shares, releasable under the terms of a value escrow agreement. As a result of closing the Qualifying Transaction, the Company is no longer a Capital Pool Company, and has been listed as a “Tier 2” mining issuer on the Exchange. Trading in the shares of the Company will resume at the open tomorrow under the symbol "DIA". The Company will be actively engaged in the exploration of the Margaret Lake Diamond Property.