Mecheshoo Agreement Signing Ceremony

Mecheshoo Agreement Signing Ceremony in Mistissini, QC, March 27, 2012

The Mecheshoo Agreement is an Impacts and Benefits Agreement for the Renard Diamond Project between the Cree Nation of Mistissini (“CNM”), the Grand Council of the Crees (Eeyou Istchee) / Cree Regional Authority (“GCC(EI)/CRA”) and Stornoway Diamond Corporation.

The agreement was signed by representatives of Stornoway and the Cree parties at a ceremony held in Mistissini, Quebec on March 27 in the presence of community members, members of the local “Tallymen” family, regional dignitaries and media. It is a binding agreement that will govern the long-term working relationship between Stornoway and the Cree parties during all phases of the Renard Diamond Project. It provides for training, employment, business opportunities and financial benefits during project construction, operation and closure, and sets out the principles of social, cultural and environmental respect under which the project will be managed.