Margaret Lake Diamonds Inc. in conjunction with the closing of the Qualifying Transaction, Paul Brockington has replaced Hari Varshney as President and Chief Executive Officer of the Company, Debbie Lew has replaced Hari Varshney as Chief Financial Officer and been appointed Corporate Secretary, Buddy Doyle has been appointed Vice President of Exploration and Thomas Hasek has been appointed Chief Operating Officer. Messrs. Hari Varshney, Thomas Humphreys and Marco Strub have resigned as members of the Company's Board of Directors, and Messrs.

Paul Brockington, Buddy Doyle, Mark Thompson and Darryl Sittler have been appointed as new directors, with Mr. Peeyush Varshney.