May 30, 2018

Margaret Lake Diamonds Commences Exploration and Drilling at Two Sites in NWT, Canada

Margaret Lake Diamonds Inc. has announced commencement of exploration for diamonds at it Diagras Property in the Northwest Territories, Canada, a few days after it commenced drilling activity at the Margaret Lake Property, also in the NWT.

At Diagras, the exploration program will consist of Gravity, Magnetic and Electromagnetic (EM) ground surveys focused around historically identified kimberlites as well as other airborne geophysical anomalies with kimberlite like signatures. This ground work will provide detailed data for further analysis and interpretation to identify additional kimberlite potential and targets.

Diagras is a contributing Joint Venture between Margaret Lake, which acts as project operator and holds a 60% interest, and Arctic Star Exploration Corp. which holds a 40% interest.

At its 100% owned Margaret Lake property, that is located just nine kilometers north of the GahchoKué diamond mine and two kilometers from the Kelvin and Faraday kimberlite deposits, diamond drilling is now underway.

The programme will test 6 kimberlite targets on the Property. Each of the targets display a gravity low, bedrock conductor, or combination of both, and have been interpreted as having geophysical characteristics potentially representing kimberlite bodies. The Margaret Lake Property comprises 23 mineral claims totaling 23,199 hectares. The Company holds a 100% interest in Margaret Lake and is not subject to any underlying royalties.