SlideShare a Scribd company logo
1 of 54
Download to read offline
BUILDING QUÉBEC’S FIRST DIAMOND MINE
PDAC March 4th 2014
Matt Manson
President, CEO & Director
Orin Baranowsky
Director of Investor Relations
2
Forward-Looking Information
This presentation contains "forward-looking information" within the meaning of Canadian securities legislation and “forward-looking statements” within the
meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as “forward-
looking statements”, are made as of the date of this presentation and the Company does not intend, and does not assume any obligation, to update these
forward-looking statements, except as required by law.
Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events and include,
but are not limited to, statements with respect to: (i) the amount of mineral resources and exploration targets; (ii) the amount of future production over any
period; (iii) net present value and internal rates of return of the mining operation; (iv) assumptions relating to recovered grade, average ore recovery,
internal dilution, mining dilution and other mining parameters set out in the Feasibility Study or Optimization Study; (v) assumptions relating to gross
revenues, operating cash flow and other revenue metrics set out in the Feasibility Study or Optimization Study; (vi) mine expansion potential and expected
mine life; (vii) expected time frames for completion of permitting and regulatory approvals and making a production decision; (viii) future exploration plans;
(ix) future market prices for rough diamonds; and (x) sources of and anticipated financing requirements. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not
always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives” or
variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of
any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results,
performances or achievements of Stornoway to be materially different from future results, performances or achievements expressed or implied by such
statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment
in which Stornoway will operate in the future, including the price of diamonds, anticipated costs and Stornoway’s ability to achieve its goals. Certain
important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include,
but are not limited to: (i) required capital investment and estimated workforce requirements; (ii) estimates of net present value and internal rates of return;
(iii) receipt of regulatory approvals on acceptable terms within commonly experienced time frames; (iv) the assumption that a production decision will be
made, and that decision will be positive; (v) anticipated timelines for the commencement of mine production; (vi) market prices for rough diamonds and the
potential impact on the Renard Project’s value; and (vii) future exploration plans and objectives. Additional risks are described in Stornoway's most recently
filed Annual Information Form, annual and interim MD&As, and other disclosure documents available under the Company’s profile at: www.sedar.com.
When relying on our forward-looking statements to make decisions with respect to Stornoway, investors and others should carefully consider the foregoing
factors and other uncertainties and potential events. Stornoway does not undertake to update any forward-looking statement, whether written or oral, that
may be made from time to time by Stornoway or on our behalf, except as required by law.
Readers are referred to the technical report dated December 29th, 2011 in respect of the November 2011 Feasibility Study for the Renard Diamond
Project, the technical report dated February 28th, 2013 in respect of the January 2013 Optimization Study, and the press release dated July 23rd 2013 in
respect of the July 2013 Mineral Resource estimate for further details and assumptions relating to the project. These technical reports and this press
release list the names of the Qualified Persons in respect of these studies.
3
Stornoway Diamond Corporation TSX:SWY
Strong Base Case Economics; World Class Upside
All-Season Access Road Opened Ahead of Schedule
and Under Budget
Mining Lease and Certificates of Authorization Issued
Strong Public Support in Québec; IBA in Place
Excellent Diamond Supply & Demand Fundamentals
100% Ownership in Renard, Québec’s First
Diamond Mine
One of the World’s Few New Diamond
Projects Under Development
Ready to Build
Focussed on Final Project Financing
4
MAJOR SHAREHOLDINGS*
12 MONTH ANALYST TARGETSMarket Capitalization:
(based on voting and non-voting shares)
C$ 163 million
Total Shares Outstanding:
(Basic and Non-voting convertible shares)
175 million
Total Options & Warrants Outstanding:
(9m Options $0.40-$2.40; 25m warrants $1.20)
33 million
Consolidated Cash:
(as of January 31, 2014)
C$ 21 million
Consolidated Debt:
($100m Standby Facility with IQ undrawn)
C$ 66 million
IQ**
(common shares)
(non-voting convertible shares)
23.2% 33.0%
Agnico-Eagle 9.7% 8.4%
Caisse de dépôt et placement du
Québec
7.5%
(est)
6.5%
(est)
Float 59.7% 52.0%
Fully
Diluted
Basic
BMO
Ed Sterck Market Perform na
Desjardins
John Hughes Speculative Buy $1.70
Dundee
Laurence Curtis Speculative Buy na
Laurentian
Eric Lemieux Buy $1.70
Paradigm
David Davidson Buy $2.00
RBC
Des Kilalea,
Outperform-
Speculative Risk
$1.20
BALANCE SHEET*
Notes: Debt Facility: In December 2010, Stornoway announced a $100 million Credit Support Agreement with a subsidiary of Société générale de financement du Québec, now Investissment
Québec, with respect to future project debt financing. The Credit Support Agreement has an annual commitment fee of 175 bps undrawn, and will take the form of a direct project loan ranking
pari passu with concurrent senior lenders or, as appropriate, on a stand alone basis on terms no less favourable than prevailing commercially reasonable market terms.
*Based on market close of $0.93 on March 4rd 2014 and includes the issue of flow through shares which closed December 3rd 2013.
**IQ: Investissement Québec, the Québec government's industrial and financial holding company whose mission is to foster the growth of investment in Québec, thereby contributing to
economic development and job creation in every region
Stornoway’s Platform for Project Development and Financing
55
Towards Québec’s First Diamond Mine
6
Lynx
R10
N
R7
R1Hibou
R4
R9
R2
R3
R65
R8
Kimberlite Bodies with
Probable Reserves
Hibou
Lynx
R4
R9
R2
R3
R65
Kimberlite Bodies with
Resource Potential
R1Hibou
Lynx
Legend
Stornoway Properties
Hydro-Québec Facility
Renard Kimberlites
Kimberlitic Dyke
Regional Kimberlites
Hydro-Québec
Powerlines
Route 167 Extension/
Renard Mine Road
Road
Exploration/ Mining
Projects
LEGEND:
0 1 2
Kilometers
60 0 60 120
Kilometers
Renard
LG3LG2
LG4
Laforge 1
Laforge 2
Brisay
Foxtrot Property
Strateco
Eastmain MineWestern Troy
Troilus Mine
Eleonore
Temiscamie
Mistissini
Chibougamau
Matagami
Wemindji
Renard Kimberlite Bodies
Kimberlite Bodies with
Inferred Resources
7
The Feasibility: 11
years of mining
Permitting and Long
Term Business Plan
The Vision: Deposit still
Open
40
60
80
100
120
140
Millions
of Tonnes
20
0
Exploration Target High Range
Inferred Resource
Exploration Target Low Range
Probable Reserve
The Renard Diamond Project
A Large, High Value Diamond Resource with a Very Long Mine Life Potential
0m
100m
200m
400m
600m
700m
500m
300m
Renard 65
29/24cpht Renard 3
103/112cpht
Renard 2
104/119cpht
Renard 9
53cpht
Renard 4
60/50cpht
27 mcarat Indicated Mineral Resource
17 mcarat Inferred Mineral Resource
26-48 mcarat Exploration Target
Grades illustrated are for Indicated and Inferred Mineral Resources respectively at a +1DTC sieve
size cut-off. Reserve and Resource categories are compliant with the "CIM Definition Standards on
Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have
demonstrated economic viability. The potential quantity and grade of any Exploration Target
(previously referred to as a “Potential Mineral Deposit”) is conceptual in nature, and it is uncertain if
further exploration will result in the target being delineated as a mineral resource.
Reserve Based Mine Plan
Jan 2013 Feasibility Study Optimization
0m
100m
200m
400m
600m
700m
500m
300m
Notes
1. Key Assumptions:C$1=US$1, Oil US$95/barrel, 2.5% real terms diamond price growth
Q311-Q425, 82.9% ore recovery, 23.8% mining and internal dilution, 0cpht dilution
grade, January 1 2013 effective date for NPV and IRR calculation.
2. Expressed in May 2011 terms.
3. Expressed in October 2012 terms, as adjusted in October 2013 LNG FS.
4. Actual.
5. Excludes capitalized preproduction costs.
6. Expressed in de-escalated nominal terms.
Reserve Based Mine Plan1
(Jan 2013 FS Optimization using Parity Dollar and May
2011 Diamond Pricing)
Mining Parameters
Mine Life 11 years
Mineral Reserve 17.9 mcarats
Ave. Diamond Price2
$180/carat
Production Rate 2.2 mtonnes/yr
Ave. Diamond Production 1.6 mcarats/yr
Gross Revenue (C$M) $4,268
Initial Capital Costs
Initial Cap-ex3
$754m
Escalation Allowance $45m
Renard Mine Road4
$70m
Operating Parameters
Operating Cost3,5
$58/t ($76/carat)
Operating Margin 67%
Operating Cash Flow $2.7B
Valuation Parameters6
After Tax NPV (7%; Jan 1 2013) $391m
After Tax IRR 16.3%
Payback 4.8 years
Renard 65
Renard 2 Renard 3
Renard 4
9
Resource Based Mine Plan
Long Term Plan: Foundation of Permitting and ESIA
0m
100m
200m
400m
600m
700m
500m
300m
Renard 65
Renard 2 Renard 3
Renard 4
Renard 9
27 mcarat Indicated Mineral Resource
17 mcarat Inferred Mineral Resource
26-48 mcarat Exploration Target
Resource Based Mine Plan
(Basis of December 2012 ESIA and Mine Permitting)
Represents the mine plan contained within the
Renard December 2012 ESIA and operating
authorizations. Not part of Stornoway’s public
disclosure consistent with NI 43-101.
Increased project valuation and mine life.
Includes the mining of up to 17mcarat Inferred
Resources within the scope of the Feasibility
Study mine infrastructure.
Includes the mining of up to 2.3mcarat Indicated
Resources within a Renard 65 open pit for
increased annual processing capacity from
2.2mtonnes/yr to 2.5mtonnes/yr.
Additional sustaining capital only, principally on
underground mine. Incremental capital for
deepening of production ramp from 600m to
700m depth.
Does not include non-resource exploration
upside. All pipes open at depth.
Reserve and Resource categories are compliant with the "CIM Definition Standards on
Mineral Resources and Reserves". Mineral resources that are not mineral reserves do
not have demonstrated economic viability. The potential quantity and grade of any
Exploration Target is conceptual in nature, and it is uncertain if further exploration will
result in the target being delineated as a mineral resource.
10
What has Changed Since the January 2013 Optimization Study?
0m
100m
200m
400m
600m
700m
500m
300m
Renard 65
Renard 2 Renard 3
Renard 4
Renard 9
27 mcarat Indicated Mineral Resource
17 mcarat Inferred Mineral Resource
26-48 mcarat Exploration Target
Reserve and Resource categories are compliant with the "CIM Definition Standards on
Mineral Resources and Reserves". Mineral resources that are not mineral reserves do
not have demonstrated economic viability. The potential quantity and grade of any
Exploration Target is conceptual in nature, and it is uncertain if further exploration will
result in the target being delineated as a mineral resource.
14% Increase in Indicated Resources
July 2013: Additional 2.3Mcarats at Renard 65 (7.9
Mtonnes at 29cpht), open pittable to 150m depth.
7% Reduction in Op-ex with LNG Option
October 2013: Annual op-ex reduction of up to $10m
using LNG for power generation, with incremental cap-
ex increase of just $2.6m.
10% Improvement in C$:US$ Exchange
Current US$0.90 rate boosts operating margin and
increases NAV compared to parity dollar assumption
used in Jan 2013 FS Optimization.
Increase in Average Diamond Prices
March 2013: Revised estimates of US$190/ct for
Renard 2; US$180/ct for Renard 65, and an estimated
+5% additional market movement since.
New Québec Tax Regime Absorbed
May 2013: New Québec system of mining taxation and
royalties: Long term clarity on tax environment.
11
Mine Plan Production Schedule and Cash Flow
(Mineral Reserves Only)
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
OreTonnage(t)
Open Pit & Underground Mining
R2 Pit R3 Pit R2 UG R3 UG R4 UG
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
Diamonds(carats)
Diamond Production
R2 R3 R4
-
100,000
200,000
300,000
400,000
500,000
600,000
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
Revenue(kC$)
Gross Revenue (Real Terms)
R2 R3 R4
12
Stornoway will be a Significant Diamond Producer
Current and Future Diamond Producers
Source: Kimberly process and Company Reports
1 De Beers (Anglo/Botswana) $6,404m
2 Alrosa (Russia) $4,801m
3 Dominion Diamond (TSX: DDC) $940m
4 Rio Tinto (ASE: RIO) $783m
5 Petra (note 1; L: PDL) $432m
6 Stornoway (note 2; TSX: SWY) $306m
7 Mountain Province (note 3; TSX: MPV) $273m
8 Gem (L: GEMD) $218m
9 Lucara (note 4; TSX: LUC) $155m
10 Others $2,588m
Total $16,900m
DeBeers
38%
Alrosa
28%
BHPB/
Dominion
6%
RioTinto
5%
Petra
2%
SWY
2%
MPV
2%
GEM
1%
LUC
1%
Others
15%
2013 World Diamond Production Data/
Forecast Future Production
Notes:
1. Petra 12 month results for period ending December 31, 2013
2. Renard estimated at FS average annual diamond production of 1.7 million carats, and WWW April 2011 weighted diamond price of $180/ct, un-escalated
3. Gahcho Kue estimated at 50% of FS average annual production of 4.5 million carats, and WWW April 2011 weighted diamond price of $121/ct, un-escalated
4. Karowe estimated as mid-range per Lucara FY2014 Operating Guidance.
13
490 m
asl
-275 m
asl
0 m
790 m
Indicated Resource
Legend
Inferred Resource
Inferred Resource of R2 CRB
Low TFFE
High TFFE
Ongoing Resource Expansion
$10m Drill Program for 2014 Announced on Jan 22nd 2014
Renard 2 Renard 3 Renard 4 Renard 65 Renard 9
1. Conversion of Renard 65 Inferred Resources to Indicated to 150m
depth (July 2013: Completed)
2. Addition of Renard 2 Country Rock Breccia to both Indicated and
Inferred Resources (July 2013: Completed)
3. 6.2 Mcarats in 5.23 Mtonnes (at 119 cpht) in Renard 2 Inferred
Resources between 610m and 700m depth: 4.2 to 7.3 Mcarats
TFFE between 700m and 770m depth. Open below 770m. (2014
Drill Program)
1
2
3
14
Renard’s High Value Diamonds
Large Diamond Potential Not Included in Base Case Diamond Valuation Models
The Renard kimberlite pipes have similar, but marginally different diamond populations
exhibiting coarse size distributions and with high proportions of large white gems.
99% by weight gem/near-gem quality. 1% industrial quality boart.
Value Upside in Large Gems: Diamonds larger than 10.8ct (“Specials”) estimated at three to six 50 -
100ct stones and one to two +100ct stones every 100,000 carats (two weeks). Not accounted for in
the revenue model.
The January 2013 FS Optimization utilized an average diamond valuation of US$180/ct based on
May 2011 prices.
Kimberlite
Body
Size of
Valuation
Sample
(carats)
WWW March
2013 Sample
Price
(US$/carat)1
WWW March
2013 Base
Case Price
Model
(US$/carat)1
Sensitivities
(Minimum to High)
Renard 2 1,580 $180 $190 $171 to $214
Renard 3 2,753 $173 $151 $141 to $185
Renard 4 2,674 $100 $104 ($150)2
$98 to $168
Renard 65 997 $250 $180 $169 to $203
Notes
1. All prices in US$/carat. Samples utilizing a +1 DTC sieve size cut-off.
2. Should the Renard 4 diamond population prove to have a diamond population with a size distribution
equal to the average of Renard 2 and 3, WWW have estimated that a base case diamond price model of
$150 per carat based on March 2013 pricing.
Renard 3 Bulk Sample Stones larger
than 2 carats. “Run of Mine”Diamond Valuations:
15
100
150
200
250
300
350
01/01/10 01/01/11 01/01/12 31/12/12 01/01/14
Indexto2009=100
WWW Rough Index, CPI Adjusted Renard Model Price Growth
WWW R.I.
CPI Adj Base Price
May 2011 Mar 2013
+20%
-10%
+10%
-20%
Rough Diamond Price Movements
The Diamond Market, January 2010 to March 2014
A tracking of the diamond market since the publication of the November 2011 FS indicates rough diamond
prices have generally remained within the bounds of sensitivities contained within the FS financial model
(May 2011 spot prices and a 2.5% real terms annual price escalator).
May 2011 Valuation
utilized in the FS based
on the average of 5
diamantaires c.10%
below the WWW rough
index price
16
Waste Rock
Processed Kimberlite
Containment (PKC)
Overburden
Stockpile
R2-R3
Ore Stockpile
R65
Camp
Plant
Road from Chibougamau
General Project Arrangement
Small Project Footprint of 3.1km2, Modest Environmental Impact
17
Project Execution
Accommodation Complex
Process and Power Plants
Access Infrastructure Pre-Financed and
Already Constructed
Renard Mine Road open to traffic since August 30th
2013. Aerodrome open since November 5th 2013.
Favourable Cost and Labour Environment
Limited amount of recent mine construction activity in
Quebec means competitive cost environment and good
contractor/labour availability.
Owner’s Team and EPCM Contract in
Place
Montreal based owner’s team in place for planning,
engineering, environment, stakeholder relations and
cost management. Stornway will also enter into an
EPCM agreement with SNC-Lavalin & AMEC.
LNG Power Option Completed for Reduced
Operating Cost Risk
LNG power option utilizes all-season access road and
existing commercial LNG distribution network in
Quebec.
18
Permitting and Social Acceptability
Strong Regulatory and Public Support for Québec’s First Diamond Mine
Social Licence
Permitting
March 2012: Impact and Benefits Agreement (“IBA” or the
“Mecheshoo Agreement”) with the Cree Nation of Mistissini
and the Grand Council of the Crees (EI).
July 2012: Partnership Agreements Signed with
Chibougamau and Chapais.
May 2013: Settlement of future Québec mining tax regime
Oct. 2012: Québec Mining license issued.
Dec. 2012: Québec Certificate of Authorization issued.
July 2013: Positive Federal Environmental Assessment
decision issued.
All Community Agreements and Regulatory
Authorizations Required to Proceed to
Construction are in Place.
19
The Route 167 Extension and the Renard Mine Road
The Only Canadian Diamond Mine with an All-Season Access Road
50 km
Renard Project
Explor./Mining Projects
Stornoway Properties
Albanel-Témiscamie-
Otish Par
Segment A: 0-82km
Segment B: 82-143km
Segment C: 143-195km
Segment D: 195-240km
Legend
Renard
WesternTroy
Eastmain
Abitex
Strateco
Mistissini
Lac
Mistassini
Lac
Naococane
Lac Hecla
Lac
Albanel
Km 0
Km82
Km240
Km195
Km143
Construction of an all-season access road connecting
Renard to the Québec highway system began in Feb. 2012.
Road segments A & B (143 km) constructed by Québec as
a 2-lane highway. Segments C & D (97 km) constructed by
Stornoway as the single lane “Renard Mine Road”.
All 4 segments were connected and opened for mine
construction traffic on August 30th 2013, 2 months ahead of
schedule and approximately 10% below budget.
To complete this work, Québec provided Stornoway $77m
of debt financing, repayable upon commercial production at
Renard.
Stornoway has been able to apply $7m of debt savings to
complete the civil works for the Renard Aerodrome.
Segments C & D
Stornoway
97km of Mine
Road (50km/hr)
Segments A & B
Min. of Transport
143km of Regional
Highway (70km/hr)
Eastmain Bridge,
March 2013
Transportation of Pre-
Fabricated Temporary Bridge
Spans March 2013
20
Views of the Road
KM 210 KM 237
KM 155
21
Renard Mine Aerodrome
Civil Works Completed Early Utilizing Savings Under the Renard Mine Road Credit Facility
Tree Cutting Area
Runway
Centerline
First Landing: November 5th
22
Site Progress
October 2013
R65 Borrow Pit
Tree Clearing
Bulk Sample
DMS Plant
Construction Camp
Renard Mine Road
R65
R2
R9
R4
23
Project Schedule
January 2013 Optimization Study
BFS (Complete)
ESIA (Complete)
Community Hearings (Complete)
Reg. Authorizations (Complete)
Specific Operating Permits (50)
Detailed Engineering
Project Financing
Road Construction
Site Construction
Commissioning and Ramp-up
Commercial Production
2011
2H 2H 2H 2H2H 1H 1H 1H1H
2012 2013 2014 2015
2H1H
2016
First Vehicle Access
The timely completion of mine project financing is the principal driver on the
schedule of project construction and start up
24
Québec’s First Diamond Mine – Ready to Build
Project Green-lighted: Authorizations Issued
Community Agreements in Place
Stornoway Operating Team in Place
Access Road Opened 2 Months Ahead of
Schedule and Under Budget
LNG Power Plant Results in Meaningful Cost
Savings
Resource Continuing to Grow
Favourable Cost Environment for Project
Construction
Stornoway is Focused on Completing
Project Financing for Construction in 2014
and 2015, with first Production in 2016
2525
Appendix 1: NI 43-101 Mineral Reserves and Mineral Resources
26
Probable Mineral Reserve
Mining Recovery Factors Utilized in the Reserve
Calculation
Kimberlite
Grade
(cpht)
Tonnes
(millions)
Contained
Carats
(Millions)
Internal
Dilution
Mining
Recovery
Mining
Dilution
Renard 2 OP 95 1.31 1.24 0.0% 96.0% 7.1%
Renard 2 UG 80 17.03 13.62 7.0% 82.4% 20.2%
Renard 3 OP 93 0.72 0.67 0.0% 96.0% 10.5%
Renard 3 UG 84 1.00 0.84 21.1% 85.0% 14.0%
Renard 4 UG 42 3.72 1.58 1.4% 78.2% 14.0%
Total 75 23.79 17.95 5.9% 82.9% 17.9%
Notes: Reserve categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Totals may not add due to rounding. Grades are estimated at a
+1DTC sieve size cut-off.
R2 ,
83%
R3, 8%
R4, 9%
Revenue
R2 , 77%
R3, 7%
R4, 16%
Tonnage
R2 , 83%
R3, 8%
R4, 9%
Carats
NI 43-101 Probable Mineral Reserves
January 28th 2013
27
Notes: Resource categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have
demonstrated economic viability. Indicated Mineral resources are Inclusive of the Mineral Reserve. Totals may not add due to rounding. Grades are estimated at a +1DTC sieve size
cut-off.
Renard NI 43-101 Mineral Resources
July 23rd 2013. Changes to Previous January 2011 Mineral Resource in Italics
Kimberlite
Grade
(cpht)
Tonnes
(millions)
Contained Carats
(Millions)
Renard 2 – Total 100 (n/a) 18.58 (n/a 18.66 (n/a)
Renard 2 104 (+1.2%) 17.71 (-0.4%) 18.38 (+1.6%)
Renard 2 CRB-2a 32 (n/a) 0.87 (n/a) 0.28 (n/a)
Renard 3 103 (-2.2%) 1.76 (+0.5%) 1.82 (-1.7%)
Renard 4 60 (+13.1%) 7.25 -- 4.31 (+13.0%)
Renard 65 29 (n/a) 7.87 (na) 2.30 (n/a)
Total Indicated 76.4 (-14.3%) 35.45 (33.1%) 27.09 (+14.0%)
Renard 2 – Total 64 (n/a) 11.77 (n/a) 7.47 (n/a)
Renard 2 119 (+1.2%) 5.23 (+0.4%) 6.23 (+1.6%)
Renard 2 CRB 19 (n/a) 6.54 (n/a) 1.24 (n/a)
Renard 3 112 (-4.5%) 0.54 (+0.2%) 0.61 (-4.2%)
Renard 4 50 (+13.7%) 4.75 (-0.1%) 2.37 (+13.7%)
Renard 9 53 (+13.2%) 5.70 (+0.1%) 3.04 (+13.2%)
Renard 65 24 (-16.8%) 4.93 (-61.9%) 1.18 (-68.3%)
Lynx Dyke 107 -- 1.80 -- 1.92 --
Hibou Dyke 144 -- 0.18 -- 0.26 --
Total Inferred 56.8 (+1.2%) 29.67 (-4.6%) 16.85 (-3.5%)
28
Notes: The potential quantity and grade of any exploration target (previously referred to as “potential mineral deposit”) is conceptual in nature, and it is uncertain if further exploration
will result in the target being delineated as a mineral resource. The exploration upside for the Renard kimberlite pipes has been determined by projecting reasonable kimberlite
volumes from the base of the inferred Resource to a depth of 700m below surface. In the case of the Lynx and Hibou dykes, the exploration upside was established on the basis of
known drill intersections of kimberlite for which insufficient diamond sampling exists to adequately estimate a diamond resource grade.
Target for Further Exploration
July 23rd 2013. Changes to Previous January 2011 Estimates in Italics
Kimberlite
Grade
(cpht)
Tonnes
(millions)
Contained Carats
(Millions)
Renard 2 104 to 158 4.0 to 4.6 4.2 to 7.3
Renard 3 105 to 168 0.8 to 1.7 0.8 to 2.8
Renard 4 50 to 77 11.1 to 15.4 5.6 to 11.8
Renard 9 52 to 68 3.9 to 6.3 2.0 to 4.3
Renard 65 25 to 33 29.0 to 40.9 7.3 to 13.5
Lynx Dyke 96 to 120 3.1 to 3.2 3.0 to 3.8
Hibou Dyke 104 to 151 2.7 to 2.9 2.9 to 4.3
Total Exploration
Upside
54.6
(-0.8%)
to
74.9
(-0.8%)
25.7
(+9.1%)
to
47.8
(-1.4%)
2929
Appendix 2: Feasibility Study and Feasibility Optimization
30
Chronology of Renard Studies
Feasibility Study
Released on November 16th 2011. NI 43-101 Technical Report filed December 29 2011.
11 Year Mine Plan based on 18Mcarat Mineral Reserve derived from January 2011 NI 43-101 Resource.
Long Term Business Plan
Companion study to the Feasibility Study with an extended mine plan incorporating the project`s 17.5 million carats of
Inferred Mineral Resources.
Basis of overall mine design and project permitting. Not part of the project`s public disclosure, consistent with Canadian
reporting standards
Optimization Study
Released on January 28th, 2013. NI 43-101 Technical Report filed March 2013.
Refined of Feasibility mine design, including shaft deferral and a modified underground mining sequence.
11 Year Mine Plan based on 17.9 million carat Mineral Reserve.
Resource Update
Released July 2013. NI 43-101 Resource update with 14% increase in Indicated Resource contained carats
LNG Feasibility Study
Released October 2013. Modified project Cap-ex and Op-ex for LNG powered gensets
31
Optimization Study Financial Analysis
Project Assumptions, Valuation and Pay-Back
Key Assumptions in the Financial Model1
Mining
Parameters
Reserve Carats (M) 17.9
Tonnes Processed (M) 23.8
Recovered Grade (cpht) 75
Average Ore Recovery (%) 82.9%
Average Mining Dilution (%) 17.9%
Dilution Grade (cpht) 0
Processing Rate (Mtonnes/annum) 2.2
Mine Life (years) 11
Cost
Parameters
Initial Cap-ex (C$M)2 $752
LOM Cap-ex (C$M)4 $1,013
Oil Price (US$/barrel)2 $95
LOM Op-ex (C$/tonne)2 $57.63
LOM Op-ex (C$/carat)2 $76.63
Revenue
Parameters
Gross Revenue (C$M)2 $4,268
Marketing Costs 2.7%
DIAQUEM Royalty 2.0%
Cash Operating Margin (C$M)2 $2,693
% Operating Margin 67%
Income Tax, Mining Duties and IBA
Payments (C$M)1 $625
After Tax Net Cash Flow (C$M) $1,084
Diamond
Price
Parameters3
Renard 2 and Renard 3 (US$/carat) $182
Renard 4 (US$/carat) $164
Diamond Price Escalation 2.5%
Exchange rate 1C$=1US$
Schedule
Parameters
Effective Date for NPV Calculation Jan. 1 2013
Construction Mobilization/Early Works Aug. 1 2013
Plant Commissioning Commences Dec. 1 2015
Commercial Production Declared Jun. 1 2016
Valuation Results5
(C$m)
Pre-Tax After Tax
NPV5% $894 $537
NPV7% (Base Case) $683 $391
NPV9% $514 $274
IRR 20.4% 16.3%
Pay-Back (years) 4.69 4.82
Notes
1. Optimization Study, released January 28th 2013.
2. Expressed in October 2012 terms.
3. Expressed in May 2011 terms.
4. Expressed in nominal terms.
5. Expressed in Dde-escalated nominal terms.
32
Optimization Study Financial Analysis
Capital Costs
Capital Costs1
(C$m)
Site Preparation & General $32.7
Mining $151.2
Mineral processing plant $175.4
Onsite utilities and infrastructures $114.8
Owner’s Cost $94.7
Spares, fills, tools $7.1
EPCM services $47.9
Field indirect costs, vendor representatives $33.9
Construction camp & Catering $24.5
Freight and duties $5.5
Contingency $64.7
Total Initial Capital $752.1
Escalation Allowance on Initial Capital $45.1
Pre-Production Revenue $(25.0)
Deferred & Sustaining Capital2 $175.9
Deferred Capital (Route 167 Extension) $0.0
Renard Mine Road2 $78.0
Salvage Value2 $(13.3)
Total LOM Capital $1,012.9
Site Prep.
& General
7%
Mining
32%
Plant
37%
Onsite
utilities
and
infrastruc.
24%
Direct Costs (C$474m)
Owner’s
Cost
34%
Spares
3%
EPCM
17%
Field,
Vendor
reps
12%
Camp
9%
Freight
2%
Contin.
23%
Indirect Costs (C$278m)
Notes
1. Optimization Study, released January 28th 2013. 2. After Escalation
33
Optimization Study Financial Analysis
Operating Costs
Notes:
1. Optimization Study, released January 28th 2013. Costs are
expressed in October 2012 terms. Totals may not add due
to rounding.
2. Unit cost per processed tonnes.
Open Pit Unit Costs1
$/tonne
Open Pit 21.22
Processing 15.29
G&A2 and Infrastructure 18.27
Total Open Pit3 54.78
Underground Unit Costs1
$/tonne
Underground 23.64
Processing 15.29
G&A2 and Infrastructure 18.27
Total Underground3 57.20
Life of Mine Operating Costs1,4
(Real Terms)
Total Operating Cost (C$M) 1,352
Diamond Prod. (Mcarats) 17.6
Production Cost3
57.63 C$/ t
76.63 C$/ ct
3. G&A unit costs do not include closure cost
4. “Life of Mine Operating Costs” exclude diamond production prior to Commercial
Production and exclude pre-production operating costs, which are capitalized.
Open Pit,
$10m, 1%
UG Mine,
$555m,
41%
Plant,
$359m,
26%
G&A,
$429m,
32%
Operating Cost (C$1,352m)
34
Optimization Study Financial Analysis
Carat Production and Revenue
Revenue Parameters1
(Real Terms)
Total Gross Revenue (C$m) $4,268
Marketing Costs (%) 2.7%
DIAQUEM Royalty (%) 2.0%
Cash Operating Margin (C$m) $2,693
% Operating Margin 67%
Taxes and Mining Duties and IBA Payments (C$m) $625
Cumulative After Tax Cash Flow (C$m) $1,084
Production Parameters1
(Mcarats)
Renard 2 Open Pit 1.24
Renard 3 Open Pit 0.67
Total Open Pit 1.91
Renard 2 Underground 13.62
Renard 3 Underground 0.84
Renard 4 Underground 1.58
Total Underground 16.03
Total 17.95
11%
89%
Diamond Production by Mining Method
Open Pit
Underground
83%
8%
9%
Diamond Production by Kimberlite Pipe
Renard 2
Renard 3
Renard 4
Notes:
1. Optimization Study, released January 28th 2013.
35
Optimization Study Financial Analysis
Project Valuation Sensitivities
80% 90% 100% 110% 120%
Operating Cost 19.6% 18.0% 16.3% 14.6% 12.8%
Capital Cost 21.2% 18.6% 16.3% 14.4% 12.6%
Revenue 9.5% 13.1% 16.3% 19.3% 22.1%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%After Tax
IRR
80% 90% 100% 110% 120%
Operating Cost 24.3% 22.3% 20.3% 18.3% 16.1%
Capital Cost 26.0% 22.9% 20.3% 18.0% 16.0%
Revenue 12.1% 16.4% 20.3% 23.9% 27.2%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
80% 90% 100% 110% 120%
Operating Cost 526,139 460,174 391,480 320,039 245,911
Capital Cost 506,817 449,806 391,480 331,668 272,020
Revenue 99,135 246,431 391,480 535,409 677,695
0
100
200
300
400
500
600
700
80% 90% 100% 110% 120%
Operating Cost 891,143 789,142 683,499 574,143 461,111
Capital Cost 845,695 764,629 683,499 601,269 519,031
Revenue 231,318 457,408 683,499 909,511 1,135,60
0
200
400
600
800
1,000
1,200Pre-Tax
IRR
After Tax
NPV
Pre-Tax
NPV
36
Liquefied Natural Gas Power Plant
Feasibility Study Released October 2013
With a view to project optimization,
Stornoway has been investigating more
cost efficient alternatives for on-site power
supply than traditional diesel fuelled gen-
sets.
A Hydro-Québec powerline has been ruled
out in the short term due to high cap-ex
cost.
On October 21st Stornoway announced it
will proceed with an LNG fuelled gen-set
option, made possible by the ability to
receive regular cryogenic LNG shipments
on the Renard Mine Road.
The Renard LNG plant will comprise seven
2.1MW rated gas gen-sets, providing
sufficient power generation capacity for the
project’s normal operating specification of
9.5MW.
37
Liquefied Natural Gas Power Plant
Feasibility Study Released October 2013
An LNG fuelled powerplant for Renard offers many advantages over diesel:
• Greatly reduced annual operating costs of $8m to $10m per year, for a small incremental capital cost
of $2.6m.
• Up to 43% less greenhouse gas emissions.
• Long term, stable supply market utilizing existing commercial distribution network within Quebec.
• Elimination of on-site propane, as LNG will be used for building and underground mine heating.
Diesel will continue to be used for the mobile mining fleet and construction activities
Cost Improvements with LNG
Jan 2013
Optimization Study
with Diesel
Jan 2013
Optimization Study
with LNG
Unit Power Cost (C$/kWh) 1
$0.299 $0.188 (-37%)
Unit Operating Cost (C$/tonne) 1,2
$57.63 $53.84 (-7%)
Initial Capital Cost (C$m) 1
$752.1 $754.0 (+0.3%)
Life of Mine Capital Cost (C$m) 1,3
$1,013 $1,010 (-0.3%)
Annual Diesel Consumption (million litres) 27.5 5.9 (-79%)
Annual LNG Consumption (thousand m3
/annum) n/a 41.7
Annual Propane Consumption (thousand m3
/annum) 3.5 n/a
Notes
1. January 2013 Optimization Study costs expressed in October 2012 terms.
2. Excludes capitalized preproduction costs.
3. Includes all initial, sustaining and deferred capital, contingencies and escalation
Key Assumptions
Based on the 11 year reserve-based mine life (17.9 mcarats) contained within the
January 2013 Optimization Study, with a normal operating load of 9.49MW,
C$1=US$1, Oil US$95/barrel
3838
Appendix 3: Project Comparables
39
Diamond Industry Cost Curve
Source: Published FY2012 Results, FS Life of Reserve Data and Company Estimates
World Diamond Project Comparables
Cost/Revenue
40
Project Comparables
Recent Canadian Diamond Mines Compared as of the Date of each FS
Source: Company Reports and Stornoway Estimates. Excludes resource and diamond price upside from both projects. Excludes diamond price escalators.
Assumes similar diamond recovery and mining dilution parameters.
Ekati (1998)
BHPB, As Built
Estimates
Diavik (1999)
Rio-Tinto, As
Built Estimates
Victor (2008)
De Beers, As
Built Estimates
Renard FS
Optimization
Study (2013)
Resource Parameters
Resource (m carats) 161 133 No data 41
Resource (US$) $10B $6.7B No data $7.2B
Resource Grade (cpht) 110 360 No data 72
Average Resource Diamond Price $60 $50 No data $175
Resource Mine Life 25 25 No data n/a
Reserve Parameters
Reserve (carats) 72 102 6 17.9
Reserve (dollars) $6B $5.5B $2.4B (est) $3.2B
Reserve Grade (cpht) 109 400 20 75
Average Reserve Diamond Price $84 $55 $400 $180
Average Reserve Ore Value (US$) $92 $220 $80 $136
Reserve Mine Life 17 19 12 11
Production Parameters
Annual Production (mCarats) Up to 3.6 Up to 7 0.5 1.7
Annual Revenue (US$m) $302 $385 $215 $306
LOM Op-ex (Cdn$/tonne) $100 to $60 $100 No data $58
LOM Op-ex (Cdn$/carat) $92 to $55 $25 No data $76
Canadian-US Dollar c.$0.75 $0.67 c.$1.00 $1.00
Pre-Production Cap-ex (Cdn$) $900m $1.3B $982m $752m
41
Project Comparables
Recent Canadian Diamond Development Projects Compared as of the Date of each FS
Gahcho Kué FS (2010)
De Beers/Moun. Prov.
Star-Orion FS (2011)
Shore Gold
Renard FS Optimization
Study (2013)
Resource Parameters
Resource (m carats) 61 43 41
Resource (US$) $5.1B $11B $7.2B
Resource Grade (cpht) 168 12 72
Average Resource Diamond Price
$85 (WWW Apr 10)
$65 (DTC Apr 10)
$256 (WWW Feb 11) $175 (WWW May 11)
Resource Mine Life n/a n/a n/a
Reserve Parameters
Reserve (carats) 49 34 17.9
Reserve (dollars) $3.7B $8.2B $3.2B
Reserve Grade (cpht) 157 12 75
Average Reserve Diamond Price $75 $242 $180
Average Reserve Ore Value (US$) $118 $30 $136
Reserve Mine Life 11 20 11
Production Parameters
Annual Production (mCarats) 4.5 1.7 1.7
Annual Revenue (US$m) $338 $411 $306
LOM Op-ex (Cdn$/tonne) $49 $14 $58
LOM Op-ex (Cdn$/carat) $31 $114 $76
Canadian-US Dollar 0.96 0.945 1.00
Pre-Production Cap-ex (Cdn$)
$550m
($800m De Beers Dec 11)
$1.9B $752m
Source: Company Reports. Excludes resource and diamond price upside from both projects. Excludes diamond price escalators. Assumes similar diamond
recovery and mining dilution parameters.
4242
Appendix 4: The Diamond Market
43
Major Diamond Mines and Development Projects Worldwide
Few Enough Mines to Fit on One Map
South Africa
• Venetia (De Beers)
• Finsch, Premier (Petra Diamonds)
• Lace (DiamondCorp)
Tanzania
• Williamson (Petra Diamonds)
Russia
• Arkhangelsk District (Alrosa)
• Yakutia District (Alrosa)
• Grib (LUKOIL)
India
• Bundar (Rio Tinto)
Australia
• Argyle (Rio Tinto)
• Ellendale (Gem Diamonds)
Canada
• Ekati (BHPB)
• Diavik (Rio Tinto/Harry Winston)
• Victor, Snap Lake, Gahcho Kue (De Beers)
• Renard (Stornoway)
• Star (Shore Gold/Newmont)
Botswana
• Jwaneng, Orapa (De Beers)
• Gope (Gem Diamonds)
• Karowe (Lucara Diamonds)
Angola
• Catoca (Alrosa)
Democratic Republic of Congo
• Mbuyi-Mayi
Sierra Leone
• Koidu, (Steinmetz Group)
Lesotho
• Letseng (Gem Diamonds)
• Kao (Namakwa Diamonds)
• Liqhobong (Firestone)
• Mothai (Lucara)
44
The Rough Diamond Business in Context
1/8th the Size of the Copper Business
Source: USGS, LME, Kimberly Process
45
The Diamond Pipeline
An Industry with Many Intermediaries
Source: Tacy
D.I.B.April 2013
Production
Cost
Production
Value
Mine Sales to
Industry
Rough Sales
to Cutting
Centers
Value of
Polished
Produced
Value of
Diamonds in
Retail
Jewelery
Sales
Retail Sales
of Diamond
Jewelery
Estimated
Average Margins
after Costs (%)
Polishing:
-10 to 15%
Jewelery
Manufac: -10
to 10%
Jewelery
Retail: 20 to
50%
Mine Production Rough Trading and Diamond Polishing Diamond Jewelery
Value in US$B
terms of each
stage of the
diamond
pipeline
Rough Mining: 0 to 50% Rough Dealing: 0 to 10%
$6.0B $13.37B $15.5B $15.2B $17.6B $21.9B
$72.1B
46
Future Rough Diamond Supply
0
20
40
60
80
100
120
140
160
180
Produciton/SupplyMct
Alluvial
Open Cut
U/G
3x increase in
U/G carats
Higher cost
De Beers Production Forecast Rio Tinto Production Forecast
Almost all rough diamond production forecasts show flat or declining production long term. De Beers see
production peaking in 2017, and broad reserve depletion thereafter.
Rough production is not expected to reach 2008 levels in carat terms again.
No large scale diamond mine has been discovered since the discovery of EKATI and Diavik in the early
1990s. The movement to underground mining in Russia, South Africa and Canada will lower overall industry
margins.
4747
Rough Diamond Supply and Demand Forecasts
An Example: Bain September 2013
Rough Diamond Demand
Supply and Demand
Rough Diamond Supply
Since 2012, Bain & Co in partnership with the
Antwerp World Diamonds Center have published
an annual review of the diamonds sector.
The September 2013 edition forecasts a rough
diamond supply CAGR of 2% and a rough
diamond demand CAGR of 5.1%.
48
$109
$121
$117
$182 $190
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1
0
100
200
300
400
500
600
700
2007 2008 2009 2010 2011 2012 2013
IndexOctober2003=100
Commodity Index Data
WWW R.I. Polished Prices Index Gold
IMF CPI IMF IPI IMF CPI NonFuel
IMF Coal(Aust) IMF Metal IMF Cu
S&P TSX Comp Index
S&PTSXCompositeIndexWeeklyClosingS&PTSXCompositeIndexWeeklyClosingS&PTSXCompositeIndexWeeklyClosingS&PTSXCompositeIndexWeeklyClosing
Rough Diamond Pricing Since 2003
Rough and Polished Diamonds Against a Basket of Indicators, 2003- October 2013
Source: LME, IMF, Rough Diamond Price data after WWW International Diamond Consultants Limited Indexed to October 2003. CAGR in Nominal Terms. WWW R.I. to May 2013
8% CAGR in
Rough Prices
2003-2012
4949
Appendix 5: Management Biographies
50
Hume Kyle
Independent
Zara Boldt
CFO and VP
Finance
Pat Godin
COO & Director
Matt Manson
President, CEO
& Director
Michel Blouin
Independent/
IQ Designate
Yves Harvey
Independent
John LeBoutillier
Independent/
IQ Designate
Monique Mercier
Independent/
IQ Designate
Peter Nixon
Independent
Ebe Scherkus
Independent/
Board Chairman
Executive Officers
Non-Executive Directors
Key Managers
Head Office: Longueuil, Québec
Exploration Office: North Vancouver, BC
Community Offices: Mistissini & Chibougamau Québec
Stornoway’s Board and Management Team
Serge Vézina
Independent
Orin
Baranowsky
Director, IR
Jean-Charles
Dumont
Corporate Controller
Yves Perron
VP Engineering
& Construction
Ghislain
Poirier
VP Public Affairs
Brian Glover
VP Asset
Protection
Martin Boucher
VP Sustainable
Development
Guy Bourque
Chief Mining
Engineer
Helene
Robitaille
Director, HR
Robin
Hopkins
VP Exploration
Mario
Courchesne
Construct. Manager
Freddie
Mianscum
IBA Implem. Officer
51
PRESIDENT, CHIEF EXECUTIVE
OFFICER AND DIRECTOR
STORNOWAY DIAMOND CORPORATION
49 WELLINGTON STREET EAST, SUITE 300
TORONTO, ONT M5E 1C9
TEL. : (416) 304-1026
www.stornowaydiamonds.com TSX:SWY
Matt Manson, PhD.
Matt Manson was appointed President of Stornoway Diamond Corporation
in March 2007 following the acquisition of Ashton Mining of Canada and
Contact Diamond Corporation, and subsequently President & CEO in
January 2009.
As President & CEO, Mr. Manson is responsible for the management of the
company as a whole, playing a leadership role in all key business units
including finance and budgets, exploration, human resources, investor
relations and advanced project development including the Renard
Diamond Project.
Between 1999 and 2005 he was employed by Aber Diamond Corporation
(now Harry Winston Diamond Corporation) as VP Marketing and
subsequently VP Technical Services & Control, during which time he
participated in the US$230m project financing for the Diavik Diamond
Project and oversaw Aber's technical and marketing operations during the
feasibility, construction and early production phases of Diavik. Between
2005 and 2007 he was employed by Contact Diamond Corporation,
formerly Sudbury Contact Mines and a 40% owned subsidiary of Agnico-
Eagle Mines Limited, as President & COO and subsequently President &
CEO.
Mr. Manson is a graduate of the University of Edinburgh (BSc Geophysics,
1987) and the University of Toronto (MSc Geology 1989 and PhD Geology,
1996), and has over 17 years of experience in diamond exploration,
development and production.
Appendix: Management Biographies
52
CHIEF OPERATING OFFICER
AND DIRECTOR
Patrick Godin, Eng., Asc.
Pat Godin joined Stornoway as Chief Operating Officer in May 2010 and
was appointed to the Board of Directors in October 2011. He is
responsible for the development of the Renard Diamond Project in north-
central Québec, on track to becoming Québec’s first diamond mine.
Prior to joining Stornoway Diamond, Mr. Godin acted as Vice President,
Project Development for GMining Services, focused on the development of
mining projects in the Americas and West Africa, and was responsible for
the developed of the Essakane Mine in Burkina Faso under contract to
IAMGOLD.
He was previously Vice President of Operations for Canadian Royalties,
specifically heading the development of their nickel project in Northern
Québec. He was also President and General Manager of CBJ-CAIMAN
S.A.S., a French subsidiary of Cambior / IAMGOLD, holder of the Camp
Caïman gold mining project located in French Guiana. For many years, he
was involved in Cambior’s various Canadian properties in Abitibi-
Témiscamingue, through progressive management positions in project
development and mine management.
He holds a bachelor’s degree in mining engineering from Université Laval
in Québec. Mr. Godin is a member of the “Ordre des Ingénieurs du
Québec”, of the Certified Directors College and of The Canadian Institute
of Mining, Metallurgy and Petroleum (CIM). He is the Chairman of the
Board of Geomega Resources and a director of Orbit-Garant Drilling.
STORNOWAY DIAMOND CORPORATION
1111 RUE ST. CHARLES O.
LONGUEUIL, QUÉBEC J4K 4G4
TEL. : (450) 616-5555
www.stornowaydiamonds.comTSX:SWY
Appendix: Management Biographies
53
VICE PRESIDENT, FINANCE AND
CFO
Zara Boldt, B.A., CGA
Zara Boldt was appointed Vice President, Finance with Stornoway in May
2007, after serving as Stornoway’s Controller between 2004 and 2007, and
Chief Financial Officer in March 2010.
As Vice President Finance and CFO, Ms. Boldt is responsible for the
management of the corporate and financial affairs of the corporation, and
for the oversight of its regulatory reporting requirements.
Ms. Boldt has held positions of progressive responsibility with several
mineral exploration companies, in addition to several years of experience
with a national investment dealer. Her most recent resource industry roles
include CFO for Sherwood Copper Corporation from May 2006 to May 2007
and Controller for the Northair Group of Companies between May 2004
and April 2007.
Ms. Boldt is a Certified General Accountant and a graduate of the
University of Puget Sound in Tacoma, Washington. She is a director of
Troon Ventures Ltd., where she serves as Chair of the Audit Committee.
STORNOWAY DIAMOND CORPORATION
980 W FIRST STREET, #116
NORTH VANCOUVER, BC, V7P 3N4
TEL. : (604) 983-7750
www.stornowaydiamonds.comTSX:SWY
Appendix: Management Biographies
54
Stornoway Diamond Corporation TSX:SWY
Head Office:
1111 Rue St. Charles Ouest,
Longueuil, Québec J4K 4G4
Tel: +1 (450) 616-5555
IR Contact:
Orin Baranowsky, CFA, Director IR
obaranowsky@stornowaydiamonds.com
Tel: +1 (416) 304-1026 x103
www.stornowaydiamonds.com
Info@stornowaydiamonds.com

More Related Content

What's hot

Stornoway Renard Project Resource Update July 23rd 2013
Stornoway Renard Project Resource Update July 23rd 2013 Stornoway Renard Project Resource Update July 23rd 2013
Stornoway Renard Project Resource Update July 23rd 2013
Stornoway Diamonds
 
Corporate Update, January 2015
Corporate Update, January 2015Corporate Update, January 2015
Corporate Update, January 2015
StornowayDiamonds
 

What's hot (20)

Corporate Presentation PDAC March 2017
Corporate Presentation PDAC March 2017Corporate Presentation PDAC March 2017
Corporate Presentation PDAC March 2017
 
Stornoway Diamonds Corporate Update September 19, 2016
Stornoway Diamonds Corporate Update September 19, 2016Stornoway Diamonds Corporate Update September 19, 2016
Stornoway Diamonds Corporate Update September 19, 2016
 
Stornoway PDAC 2016 Corporate Presentation
Stornoway PDAC 2016 Corporate PresentationStornoway PDAC 2016 Corporate Presentation
Stornoway PDAC 2016 Corporate Presentation
 
Stornoway AGM Presentation MAy 16 2016
Stornoway AGM Presentation MAy 16 2016Stornoway AGM Presentation MAy 16 2016
Stornoway AGM Presentation MAy 16 2016
 
Stornoway Corporate Update Presentation June 16 2016
Stornoway Corporate Update Presentation June 16 2016Stornoway Corporate Update Presentation June 16 2016
Stornoway Corporate Update Presentation June 16 2016
 
European Gold Forum Presentation
European Gold Forum PresentationEuropean Gold Forum Presentation
European Gold Forum Presentation
 
Swy 2013 AGM Presentation
Swy 2013 AGM PresentationSwy 2013 AGM Presentation
Swy 2013 AGM Presentation
 
Stornoway Renard Project Resource Update July 23rd 2013
Stornoway Renard Project Resource Update July 23rd 2013 Stornoway Renard Project Resource Update July 23rd 2013
Stornoway Renard Project Resource Update July 23rd 2013
 
Stornoway Corporate Update Presentation January 22, 2015
Stornoway Corporate Update Presentation January 22, 2015Stornoway Corporate Update Presentation January 22, 2015
Stornoway Corporate Update Presentation January 22, 2015
 
Corporate Update, January 2015
Corporate Update, January 2015Corporate Update, January 2015
Corporate Update, January 2015
 
Red Cloud Mining Annual Fall Showcase Presentation October 8, 2015
Red Cloud Mining Annual Fall Showcase Presentation October 8, 2015Red Cloud Mining Annual Fall Showcase Presentation October 8, 2015
Red Cloud Mining Annual Fall Showcase Presentation October 8, 2015
 
Stornoway 2106 Production Results and 2017 Guidance
Stornoway 2106 Production Results and 2017 GuidanceStornoway 2106 Production Results and 2017 Guidance
Stornoway 2106 Production Results and 2017 Guidance
 
Agm may 12 2017 final
Agm may 12 2017 finalAgm may 12 2017 final
Agm may 12 2017 final
 
Stornoway Corporate Update June 19, 2015
Stornoway Corporate Update June 19, 2015Stornoway Corporate Update June 19, 2015
Stornoway Corporate Update June 19, 2015
 
Stornoway Company Update November 19, 2012
Stornoway Company Update November 19, 2012Stornoway Company Update November 19, 2012
Stornoway Company Update November 19, 2012
 
Renard Resource Update September 24 2015 Companion Materials
Renard Resource Update September 24 2015 Companion MaterialsRenard Resource Update September 24 2015 Companion Materials
Renard Resource Update September 24 2015 Companion Materials
 
Stornoway Diamond Corporation Corporate Update Presentation
Stornoway Diamond Corporation Corporate Update PresentationStornoway Diamond Corporation Corporate Update Presentation
Stornoway Diamond Corporation Corporate Update Presentation
 
Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021
Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021
Lundin Gold Scotiabank Mining Conference November 30 - December 1, 2021
 
Presentation at the TD Securities Mining Conference
Presentation at the TD Securities Mining ConferencePresentation at the TD Securities Mining Conference
Presentation at the TD Securities Mining Conference
 
Cibc whister jan 25 2017
Cibc whister jan 25 2017Cibc whister jan 25 2017
Cibc whister jan 25 2017
 

Similar to Stornoway Presentation at PDAC 2014

PRB Corporate Presentation March 7, 2024
PRB Corporate Presentation March 7, 2024PRB Corporate Presentation March 7, 2024
PRB Corporate Presentation March 7, 2024
Probe Gold
 
Corporate Presentation Probe May 2024.pdf
Corporate Presentation Probe May 2024.pdfCorporate Presentation Probe May 2024.pdf
Corporate Presentation Probe May 2024.pdf
Probe Gold
 
Corporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfCorporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdf
Probe Gold
 
Corporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfCorporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdf
Probe Gold
 
Corporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfCorporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdf
Probe Gold
 

Similar to Stornoway Presentation at PDAC 2014 (20)

Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...
Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...
Stornoway Diamond Presentation at the Precious Metals Summit Beaver Creek, CO...
 
Stornoway 2014 English AGM Presentation
Stornoway 2014 English AGM PresentationStornoway 2014 English AGM Presentation
Stornoway 2014 English AGM Presentation
 
Stornoway Corporate Update November 12, 2014
Stornoway Corporate Update November 12, 2014Stornoway Corporate Update November 12, 2014
Stornoway Corporate Update November 12, 2014
 
Stornoway Corporate Presentation December 2015
Stornoway Corporate Presentation December 2015Stornoway Corporate Presentation December 2015
Stornoway Corporate Presentation December 2015
 
Stornoway 2015 Annual General Meeting Presentation
Stornoway 2015 Annual General Meeting PresentationStornoway 2015 Annual General Meeting Presentation
Stornoway 2015 Annual General Meeting Presentation
 
PRB Corporate Presentation March 7, 2024
PRB Corporate Presentation March 7, 2024PRB Corporate Presentation March 7, 2024
PRB Corporate Presentation March 7, 2024
 
Stornoway Corporate Presentation August 2014
Stornoway Corporate Presentation August 2014Stornoway Corporate Presentation August 2014
Stornoway Corporate Presentation August 2014
 
Renard Diamond Mine Financing Presentation
Renard Diamond Mine Financing PresentationRenard Diamond Mine Financing Presentation
Renard Diamond Mine Financing Presentation
 
Stornoway Corporate Presentation July 13 2017
Stornoway Corporate Presentation July 13 2017Stornoway Corporate Presentation July 13 2017
Stornoway Corporate Presentation July 13 2017
 
Europe Marketing
Europe Marketing Europe Marketing
Europe Marketing
 
Scotiabank Latin American Mining Conference 2013
Scotiabank Latin American Mining Conference 2013Scotiabank Latin American Mining Conference 2013
Scotiabank Latin American Mining Conference 2013
 
A Dive into the International World of Diamonds
A Dive into the International World of DiamondsA Dive into the International World of Diamonds
A Dive into the International World of Diamonds
 
Credit Suisse Global Precious Metals Conference 2013
Credit Suisse Global Precious Metals Conference 2013 Credit Suisse Global Precious Metals Conference 2013
Credit Suisse Global Precious Metals Conference 2013
 
Corporate Presentation Probe May 2024.pdf
Corporate Presentation Probe May 2024.pdfCorporate Presentation Probe May 2024.pdf
Corporate Presentation Probe May 2024.pdf
 
Montreal Marketing
Montreal MarketingMontreal Marketing
Montreal Marketing
 
Corporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfCorporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdf
 
Corporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfCorporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdf
 
Corporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdfCorporate Presentation Probe April 2024.pdf
Corporate Presentation Probe April 2024.pdf
 
European Gold Forum
European Gold Forum  European Gold Forum
European Gold Forum
 
Denver Gold Forum Sep 21, 2015
Denver Gold Forum Sep 21, 2015Denver Gold Forum Sep 21, 2015
Denver Gold Forum Sep 21, 2015
 

More from Stornoway Diamonds

More from Stornoway Diamonds (19)

Stornoway Second Quarter 2018 Earnings Results Presentation
Stornoway Second Quarter 2018 Earnings Results PresentationStornoway Second Quarter 2018 Earnings Results Presentation
Stornoway Second Quarter 2018 Earnings Results Presentation
 
Stornoway Denver Gold Forum 2018 Presentation
Stornoway Denver Gold Forum 2018 PresentationStornoway Denver Gold Forum 2018 Presentation
Stornoway Denver Gold Forum 2018 Presentation
 
Stornoway Diamond Corporation Q1 2018 Earnings Release Supplemental Materials
Stornoway Diamond Corporation Q1 2018 Earnings Release Supplemental MaterialsStornoway Diamond Corporation Q1 2018 Earnings Release Supplemental Materials
Stornoway Diamond Corporation Q1 2018 Earnings Release Supplemental Materials
 
Stornoway AGM 2018
Stornoway AGM 2018 Stornoway AGM 2018
Stornoway AGM 2018
 
Stornoway AGA 2018
Stornoway AGA 2018 Stornoway AGA 2018
Stornoway AGA 2018
 
Stornoway q1 2018 earnings results presentation final
Stornoway q1 2018 earnings results presentation finalStornoway q1 2018 earnings results presentation final
Stornoway q1 2018 earnings results presentation final
 
Stornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation final
 
Stornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation final
 
Stornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation finalStornoway q4 and fy 2017 earnings results presentation final
Stornoway q4 and fy 2017 earnings results presentation final
 
Swy corporate presentation pdac investor exchange march 5 2018
Swy corporate presentation pdac investor exchange march 5 2018Swy corporate presentation pdac investor exchange march 5 2018
Swy corporate presentation pdac investor exchange march 5 2018
 
Swy corporate presentation bmo feb 25 28 2018
Swy corporate presentation bmo feb 25 28 2018Swy corporate presentation bmo feb 25 28 2018
Swy corporate presentation bmo feb 25 28 2018
 
Swy corporate presentation td securities mining conference jan 18 2017
Swy corporate presentation td securities mining conference jan 18 2017Swy corporate presentation td securities mining conference jan 18 2017
Swy corporate presentation td securities mining conference jan 18 2017
 
Stornoway Q3 2017 Earnings Results
Stornoway Q3 2017 Earnings Results Stornoway Q3 2017 Earnings Results
Stornoway Q3 2017 Earnings Results
 
Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016
Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016
Matériel d'appui à la mise à jour du plan minier de mars 2016 - 30 mars 2016
 
AGA 2017 Presentation
AGA 2017 PresentationAGA 2017 Presentation
AGA 2017 Presentation
 
AGM 2017 Presentation
AGM 2017 PresentationAGM 2017 Presentation
AGM 2017 Presentation
 
Swy pdac-2017
Swy pdac-2017Swy pdac-2017
Swy pdac-2017
 
Corporate Presentation Feb 2017
Corporate Presentation Feb 2017Corporate Presentation Feb 2017
Corporate Presentation Feb 2017
 
AGA Presentation pour Stornoway mai 2016
AGA Presentation pour Stornoway mai 2016AGA Presentation pour Stornoway mai 2016
AGA Presentation pour Stornoway mai 2016
 

Recently uploaded

Corporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdfCorporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdf
Probe Gold
 
B2 Interpret the brief.docxccccccccccccccc
B2 Interpret the brief.docxcccccccccccccccB2 Interpret the brief.docxccccccccccccccc
B2 Interpret the brief.docxccccccccccccccc
MollyBrown86
 
Terna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results PresentationTerna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results Presentation
Terna SpA
 
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 BookingVIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
dharasingh5698
 
Call Girls in Panjabi Bagh, Delhi 💯 Call Us 🔝9953056974 🔝 Escort Service
Call Girls in Panjabi Bagh, Delhi 💯 Call Us 🔝9953056974 🔝 Escort ServiceCall Girls in Panjabi Bagh, Delhi 💯 Call Us 🔝9953056974 🔝 Escort Service
Call Girls in Panjabi Bagh, Delhi 💯 Call Us 🔝9953056974 🔝 Escort Service
9953056974 Low Rate Call Girls In Saket, Delhi NCR
 
Editing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxxEditing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxx
MollyBrown86
 
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
mriyagarg453
 

Recently uploaded (20)

Vijayawada ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready F...
Vijayawada ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready F...Vijayawada ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready F...
Vijayawada ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready F...
 
Corporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdfCorporate Presentation Probe Canaccord Conference 2024.pdf
Corporate Presentation Probe Canaccord Conference 2024.pdf
 
Nicola Mining Inc. Corporate Presentation May 2024
Nicola Mining Inc. Corporate Presentation May 2024Nicola Mining Inc. Corporate Presentation May 2024
Nicola Mining Inc. Corporate Presentation May 2024
 
B2 Interpret the brief.docxccccccccccccccc
B2 Interpret the brief.docxcccccccccccccccB2 Interpret the brief.docxccccccccccccccc
B2 Interpret the brief.docxccccccccccccccc
 
VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...
VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...
VVIP Pune Call Girls Parvati Gaon WhatSapp Number 8005736733 With Elite Staff...
 
High Profile Call Girls in Pune (Adult Only) 8005736733 Escort Service 24x7 ...
High Profile Call Girls in Pune  (Adult Only) 8005736733 Escort Service 24x7 ...High Profile Call Girls in Pune  (Adult Only) 8005736733 Escort Service 24x7 ...
High Profile Call Girls in Pune (Adult Only) 8005736733 Escort Service 24x7 ...
 
SME IPO Opportunity and Trends of May 2024
SME IPO Opportunity and Trends of May 2024SME IPO Opportunity and Trends of May 2024
SME IPO Opportunity and Trends of May 2024
 
Dubai Call Girls O525547&19 Calls Girls In Dubai (L0w+Charger)
Dubai Call Girls O525547&19 Calls Girls In Dubai (L0w+Charger)Dubai Call Girls O525547&19 Calls Girls In Dubai (L0w+Charger)
Dubai Call Girls O525547&19 Calls Girls In Dubai (L0w+Charger)
 
Dattawadi ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready Fo...
Dattawadi ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready Fo...Dattawadi ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready Fo...
Dattawadi ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready Fo...
 
VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...
VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...
VVIP Pune Call Girls Handewadi WhatSapp Number 8005736733 With Elite Staff An...
 
Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...
Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...
Indapur - Virgin Call Girls Pune | Whatsapp No 8005736733 VIP Escorts Service...
 
Teekay Tankers Q1-24 Earnings Presentation
Teekay Tankers Q1-24 Earnings PresentationTeekay Tankers Q1-24 Earnings Presentation
Teekay Tankers Q1-24 Earnings Presentation
 
Terna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results PresentationTerna - 1Q 2024 Consolidated Results Presentation
Terna - 1Q 2024 Consolidated Results Presentation
 
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 BookingVIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
VIP Call Girls Mehsana 7001035870 Whatsapp Number, 24/07 Booking
 
Call Girls in Panjabi Bagh, Delhi 💯 Call Us 🔝9953056974 🔝 Escort Service
Call Girls in Panjabi Bagh, Delhi 💯 Call Us 🔝9953056974 🔝 Escort ServiceCall Girls in Panjabi Bagh, Delhi 💯 Call Us 🔝9953056974 🔝 Escort Service
Call Girls in Panjabi Bagh, Delhi 💯 Call Us 🔝9953056974 🔝 Escort Service
 
Editing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxxEditing progress 20th march.docxxxxxxxxx
Editing progress 20th march.docxxxxxxxxx
 
(INDIRA) Call Girl Kashmir Call Now 8617697112 Kashmir Escorts 24x7
(INDIRA) Call Girl Kashmir Call Now 8617697112 Kashmir Escorts 24x7(INDIRA) Call Girl Kashmir Call Now 8617697112 Kashmir Escorts 24x7
(INDIRA) Call Girl Kashmir Call Now 8617697112 Kashmir Escorts 24x7
 
Balaji Nagar ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready...
Balaji Nagar ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready...Balaji Nagar ( Call Girls ) Pune  6297143586  Hot Model With Sexy Bhabi Ready...
Balaji Nagar ( Call Girls ) Pune 6297143586 Hot Model With Sexy Bhabi Ready...
 
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
Ambala Escorts Service ☎️ 6378878445 ( Sakshi Sinha ) High Profile Call Girls...
 
Teekay Corporation Q1-24 Earnings Results
Teekay Corporation Q1-24 Earnings ResultsTeekay Corporation Q1-24 Earnings Results
Teekay Corporation Q1-24 Earnings Results
 

Stornoway Presentation at PDAC 2014

  • 1. BUILDING QUÉBEC’S FIRST DIAMOND MINE PDAC March 4th 2014 Matt Manson President, CEO & Director Orin Baranowsky Director of Investor Relations
  • 2. 2 Forward-Looking Information This presentation contains "forward-looking information" within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as “forward- looking statements”, are made as of the date of this presentation and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the amount of mineral resources and exploration targets; (ii) the amount of future production over any period; (iii) net present value and internal rates of return of the mining operation; (iv) assumptions relating to recovered grade, average ore recovery, internal dilution, mining dilution and other mining parameters set out in the Feasibility Study or Optimization Study; (v) assumptions relating to gross revenues, operating cash flow and other revenue metrics set out in the Feasibility Study or Optimization Study; (vi) mine expansion potential and expected mine life; (vii) expected time frames for completion of permitting and regulatory approvals and making a production decision; (viii) future exploration plans; (ix) future market prices for rough diamonds; and (x) sources of and anticipated financing requirements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of Stornoway to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Stornoway will operate in the future, including the price of diamonds, anticipated costs and Stornoway’s ability to achieve its goals. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, but are not limited to: (i) required capital investment and estimated workforce requirements; (ii) estimates of net present value and internal rates of return; (iii) receipt of regulatory approvals on acceptable terms within commonly experienced time frames; (iv) the assumption that a production decision will be made, and that decision will be positive; (v) anticipated timelines for the commencement of mine production; (vi) market prices for rough diamonds and the potential impact on the Renard Project’s value; and (vii) future exploration plans and objectives. Additional risks are described in Stornoway's most recently filed Annual Information Form, annual and interim MD&As, and other disclosure documents available under the Company’s profile at: www.sedar.com. When relying on our forward-looking statements to make decisions with respect to Stornoway, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Stornoway does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Stornoway or on our behalf, except as required by law. Readers are referred to the technical report dated December 29th, 2011 in respect of the November 2011 Feasibility Study for the Renard Diamond Project, the technical report dated February 28th, 2013 in respect of the January 2013 Optimization Study, and the press release dated July 23rd 2013 in respect of the July 2013 Mineral Resource estimate for further details and assumptions relating to the project. These technical reports and this press release list the names of the Qualified Persons in respect of these studies.
  • 3. 3 Stornoway Diamond Corporation TSX:SWY Strong Base Case Economics; World Class Upside All-Season Access Road Opened Ahead of Schedule and Under Budget Mining Lease and Certificates of Authorization Issued Strong Public Support in Québec; IBA in Place Excellent Diamond Supply & Demand Fundamentals 100% Ownership in Renard, Québec’s First Diamond Mine One of the World’s Few New Diamond Projects Under Development Ready to Build Focussed on Final Project Financing
  • 4. 4 MAJOR SHAREHOLDINGS* 12 MONTH ANALYST TARGETSMarket Capitalization: (based on voting and non-voting shares) C$ 163 million Total Shares Outstanding: (Basic and Non-voting convertible shares) 175 million Total Options & Warrants Outstanding: (9m Options $0.40-$2.40; 25m warrants $1.20) 33 million Consolidated Cash: (as of January 31, 2014) C$ 21 million Consolidated Debt: ($100m Standby Facility with IQ undrawn) C$ 66 million IQ** (common shares) (non-voting convertible shares) 23.2% 33.0% Agnico-Eagle 9.7% 8.4% Caisse de dépôt et placement du Québec 7.5% (est) 6.5% (est) Float 59.7% 52.0% Fully Diluted Basic BMO Ed Sterck Market Perform na Desjardins John Hughes Speculative Buy $1.70 Dundee Laurence Curtis Speculative Buy na Laurentian Eric Lemieux Buy $1.70 Paradigm David Davidson Buy $2.00 RBC Des Kilalea, Outperform- Speculative Risk $1.20 BALANCE SHEET* Notes: Debt Facility: In December 2010, Stornoway announced a $100 million Credit Support Agreement with a subsidiary of Société générale de financement du Québec, now Investissment Québec, with respect to future project debt financing. The Credit Support Agreement has an annual commitment fee of 175 bps undrawn, and will take the form of a direct project loan ranking pari passu with concurrent senior lenders or, as appropriate, on a stand alone basis on terms no less favourable than prevailing commercially reasonable market terms. *Based on market close of $0.93 on March 4rd 2014 and includes the issue of flow through shares which closed December 3rd 2013. **IQ: Investissement Québec, the Québec government's industrial and financial holding company whose mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region Stornoway’s Platform for Project Development and Financing
  • 6. 6 Lynx R10 N R7 R1Hibou R4 R9 R2 R3 R65 R8 Kimberlite Bodies with Probable Reserves Hibou Lynx R4 R9 R2 R3 R65 Kimberlite Bodies with Resource Potential R1Hibou Lynx Legend Stornoway Properties Hydro-Québec Facility Renard Kimberlites Kimberlitic Dyke Regional Kimberlites Hydro-Québec Powerlines Route 167 Extension/ Renard Mine Road Road Exploration/ Mining Projects LEGEND: 0 1 2 Kilometers 60 0 60 120 Kilometers Renard LG3LG2 LG4 Laforge 1 Laforge 2 Brisay Foxtrot Property Strateco Eastmain MineWestern Troy Troilus Mine Eleonore Temiscamie Mistissini Chibougamau Matagami Wemindji Renard Kimberlite Bodies Kimberlite Bodies with Inferred Resources
  • 7. 7 The Feasibility: 11 years of mining Permitting and Long Term Business Plan The Vision: Deposit still Open 40 60 80 100 120 140 Millions of Tonnes 20 0 Exploration Target High Range Inferred Resource Exploration Target Low Range Probable Reserve The Renard Diamond Project A Large, High Value Diamond Resource with a Very Long Mine Life Potential 0m 100m 200m 400m 600m 700m 500m 300m Renard 65 29/24cpht Renard 3 103/112cpht Renard 2 104/119cpht Renard 9 53cpht Renard 4 60/50cpht 27 mcarat Indicated Mineral Resource 17 mcarat Inferred Mineral Resource 26-48 mcarat Exploration Target Grades illustrated are for Indicated and Inferred Mineral Resources respectively at a +1DTC sieve size cut-off. Reserve and Resource categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target (previously referred to as a “Potential Mineral Deposit”) is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
  • 8. Reserve Based Mine Plan Jan 2013 Feasibility Study Optimization 0m 100m 200m 400m 600m 700m 500m 300m Notes 1. Key Assumptions:C$1=US$1, Oil US$95/barrel, 2.5% real terms diamond price growth Q311-Q425, 82.9% ore recovery, 23.8% mining and internal dilution, 0cpht dilution grade, January 1 2013 effective date for NPV and IRR calculation. 2. Expressed in May 2011 terms. 3. Expressed in October 2012 terms, as adjusted in October 2013 LNG FS. 4. Actual. 5. Excludes capitalized preproduction costs. 6. Expressed in de-escalated nominal terms. Reserve Based Mine Plan1 (Jan 2013 FS Optimization using Parity Dollar and May 2011 Diamond Pricing) Mining Parameters Mine Life 11 years Mineral Reserve 17.9 mcarats Ave. Diamond Price2 $180/carat Production Rate 2.2 mtonnes/yr Ave. Diamond Production 1.6 mcarats/yr Gross Revenue (C$M) $4,268 Initial Capital Costs Initial Cap-ex3 $754m Escalation Allowance $45m Renard Mine Road4 $70m Operating Parameters Operating Cost3,5 $58/t ($76/carat) Operating Margin 67% Operating Cash Flow $2.7B Valuation Parameters6 After Tax NPV (7%; Jan 1 2013) $391m After Tax IRR 16.3% Payback 4.8 years Renard 65 Renard 2 Renard 3 Renard 4
  • 9. 9 Resource Based Mine Plan Long Term Plan: Foundation of Permitting and ESIA 0m 100m 200m 400m 600m 700m 500m 300m Renard 65 Renard 2 Renard 3 Renard 4 Renard 9 27 mcarat Indicated Mineral Resource 17 mcarat Inferred Mineral Resource 26-48 mcarat Exploration Target Resource Based Mine Plan (Basis of December 2012 ESIA and Mine Permitting) Represents the mine plan contained within the Renard December 2012 ESIA and operating authorizations. Not part of Stornoway’s public disclosure consistent with NI 43-101. Increased project valuation and mine life. Includes the mining of up to 17mcarat Inferred Resources within the scope of the Feasibility Study mine infrastructure. Includes the mining of up to 2.3mcarat Indicated Resources within a Renard 65 open pit for increased annual processing capacity from 2.2mtonnes/yr to 2.5mtonnes/yr. Additional sustaining capital only, principally on underground mine. Incremental capital for deepening of production ramp from 600m to 700m depth. Does not include non-resource exploration upside. All pipes open at depth. Reserve and Resource categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
  • 10. 10 What has Changed Since the January 2013 Optimization Study? 0m 100m 200m 400m 600m 700m 500m 300m Renard 65 Renard 2 Renard 3 Renard 4 Renard 9 27 mcarat Indicated Mineral Resource 17 mcarat Inferred Mineral Resource 26-48 mcarat Exploration Target Reserve and Resource categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. The potential quantity and grade of any Exploration Target is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. 14% Increase in Indicated Resources July 2013: Additional 2.3Mcarats at Renard 65 (7.9 Mtonnes at 29cpht), open pittable to 150m depth. 7% Reduction in Op-ex with LNG Option October 2013: Annual op-ex reduction of up to $10m using LNG for power generation, with incremental cap- ex increase of just $2.6m. 10% Improvement in C$:US$ Exchange Current US$0.90 rate boosts operating margin and increases NAV compared to parity dollar assumption used in Jan 2013 FS Optimization. Increase in Average Diamond Prices March 2013: Revised estimates of US$190/ct for Renard 2; US$180/ct for Renard 65, and an estimated +5% additional market movement since. New Québec Tax Regime Absorbed May 2013: New Québec system of mining taxation and royalties: Long term clarity on tax environment.
  • 11. 11 Mine Plan Production Schedule and Cash Flow (Mineral Reserves Only) - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 OreTonnage(t) Open Pit & Underground Mining R2 Pit R3 Pit R2 UG R3 UG R4 UG - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Diamonds(carats) Diamond Production R2 R3 R4 - 100,000 200,000 300,000 400,000 500,000 600,000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Revenue(kC$) Gross Revenue (Real Terms) R2 R3 R4
  • 12. 12 Stornoway will be a Significant Diamond Producer Current and Future Diamond Producers Source: Kimberly process and Company Reports 1 De Beers (Anglo/Botswana) $6,404m 2 Alrosa (Russia) $4,801m 3 Dominion Diamond (TSX: DDC) $940m 4 Rio Tinto (ASE: RIO) $783m 5 Petra (note 1; L: PDL) $432m 6 Stornoway (note 2; TSX: SWY) $306m 7 Mountain Province (note 3; TSX: MPV) $273m 8 Gem (L: GEMD) $218m 9 Lucara (note 4; TSX: LUC) $155m 10 Others $2,588m Total $16,900m DeBeers 38% Alrosa 28% BHPB/ Dominion 6% RioTinto 5% Petra 2% SWY 2% MPV 2% GEM 1% LUC 1% Others 15% 2013 World Diamond Production Data/ Forecast Future Production Notes: 1. Petra 12 month results for period ending December 31, 2013 2. Renard estimated at FS average annual diamond production of 1.7 million carats, and WWW April 2011 weighted diamond price of $180/ct, un-escalated 3. Gahcho Kue estimated at 50% of FS average annual production of 4.5 million carats, and WWW April 2011 weighted diamond price of $121/ct, un-escalated 4. Karowe estimated as mid-range per Lucara FY2014 Operating Guidance.
  • 13. 13 490 m asl -275 m asl 0 m 790 m Indicated Resource Legend Inferred Resource Inferred Resource of R2 CRB Low TFFE High TFFE Ongoing Resource Expansion $10m Drill Program for 2014 Announced on Jan 22nd 2014 Renard 2 Renard 3 Renard 4 Renard 65 Renard 9 1. Conversion of Renard 65 Inferred Resources to Indicated to 150m depth (July 2013: Completed) 2. Addition of Renard 2 Country Rock Breccia to both Indicated and Inferred Resources (July 2013: Completed) 3. 6.2 Mcarats in 5.23 Mtonnes (at 119 cpht) in Renard 2 Inferred Resources between 610m and 700m depth: 4.2 to 7.3 Mcarats TFFE between 700m and 770m depth. Open below 770m. (2014 Drill Program) 1 2 3
  • 14. 14 Renard’s High Value Diamonds Large Diamond Potential Not Included in Base Case Diamond Valuation Models The Renard kimberlite pipes have similar, but marginally different diamond populations exhibiting coarse size distributions and with high proportions of large white gems. 99% by weight gem/near-gem quality. 1% industrial quality boart. Value Upside in Large Gems: Diamonds larger than 10.8ct (“Specials”) estimated at three to six 50 - 100ct stones and one to two +100ct stones every 100,000 carats (two weeks). Not accounted for in the revenue model. The January 2013 FS Optimization utilized an average diamond valuation of US$180/ct based on May 2011 prices. Kimberlite Body Size of Valuation Sample (carats) WWW March 2013 Sample Price (US$/carat)1 WWW March 2013 Base Case Price Model (US$/carat)1 Sensitivities (Minimum to High) Renard 2 1,580 $180 $190 $171 to $214 Renard 3 2,753 $173 $151 $141 to $185 Renard 4 2,674 $100 $104 ($150)2 $98 to $168 Renard 65 997 $250 $180 $169 to $203 Notes 1. All prices in US$/carat. Samples utilizing a +1 DTC sieve size cut-off. 2. Should the Renard 4 diamond population prove to have a diamond population with a size distribution equal to the average of Renard 2 and 3, WWW have estimated that a base case diamond price model of $150 per carat based on March 2013 pricing. Renard 3 Bulk Sample Stones larger than 2 carats. “Run of Mine”Diamond Valuations:
  • 15. 15 100 150 200 250 300 350 01/01/10 01/01/11 01/01/12 31/12/12 01/01/14 Indexto2009=100 WWW Rough Index, CPI Adjusted Renard Model Price Growth WWW R.I. CPI Adj Base Price May 2011 Mar 2013 +20% -10% +10% -20% Rough Diamond Price Movements The Diamond Market, January 2010 to March 2014 A tracking of the diamond market since the publication of the November 2011 FS indicates rough diamond prices have generally remained within the bounds of sensitivities contained within the FS financial model (May 2011 spot prices and a 2.5% real terms annual price escalator). May 2011 Valuation utilized in the FS based on the average of 5 diamantaires c.10% below the WWW rough index price
  • 16. 16 Waste Rock Processed Kimberlite Containment (PKC) Overburden Stockpile R2-R3 Ore Stockpile R65 Camp Plant Road from Chibougamau General Project Arrangement Small Project Footprint of 3.1km2, Modest Environmental Impact
  • 17. 17 Project Execution Accommodation Complex Process and Power Plants Access Infrastructure Pre-Financed and Already Constructed Renard Mine Road open to traffic since August 30th 2013. Aerodrome open since November 5th 2013. Favourable Cost and Labour Environment Limited amount of recent mine construction activity in Quebec means competitive cost environment and good contractor/labour availability. Owner’s Team and EPCM Contract in Place Montreal based owner’s team in place for planning, engineering, environment, stakeholder relations and cost management. Stornway will also enter into an EPCM agreement with SNC-Lavalin & AMEC. LNG Power Option Completed for Reduced Operating Cost Risk LNG power option utilizes all-season access road and existing commercial LNG distribution network in Quebec.
  • 18. 18 Permitting and Social Acceptability Strong Regulatory and Public Support for Québec’s First Diamond Mine Social Licence Permitting March 2012: Impact and Benefits Agreement (“IBA” or the “Mecheshoo Agreement”) with the Cree Nation of Mistissini and the Grand Council of the Crees (EI). July 2012: Partnership Agreements Signed with Chibougamau and Chapais. May 2013: Settlement of future Québec mining tax regime Oct. 2012: Québec Mining license issued. Dec. 2012: Québec Certificate of Authorization issued. July 2013: Positive Federal Environmental Assessment decision issued. All Community Agreements and Regulatory Authorizations Required to Proceed to Construction are in Place.
  • 19. 19 The Route 167 Extension and the Renard Mine Road The Only Canadian Diamond Mine with an All-Season Access Road 50 km Renard Project Explor./Mining Projects Stornoway Properties Albanel-Témiscamie- Otish Par Segment A: 0-82km Segment B: 82-143km Segment C: 143-195km Segment D: 195-240km Legend Renard WesternTroy Eastmain Abitex Strateco Mistissini Lac Mistassini Lac Naococane Lac Hecla Lac Albanel Km 0 Km82 Km240 Km195 Km143 Construction of an all-season access road connecting Renard to the Québec highway system began in Feb. 2012. Road segments A & B (143 km) constructed by Québec as a 2-lane highway. Segments C & D (97 km) constructed by Stornoway as the single lane “Renard Mine Road”. All 4 segments were connected and opened for mine construction traffic on August 30th 2013, 2 months ahead of schedule and approximately 10% below budget. To complete this work, Québec provided Stornoway $77m of debt financing, repayable upon commercial production at Renard. Stornoway has been able to apply $7m of debt savings to complete the civil works for the Renard Aerodrome. Segments C & D Stornoway 97km of Mine Road (50km/hr) Segments A & B Min. of Transport 143km of Regional Highway (70km/hr) Eastmain Bridge, March 2013 Transportation of Pre- Fabricated Temporary Bridge Spans March 2013
  • 20. 20 Views of the Road KM 210 KM 237 KM 155
  • 21. 21 Renard Mine Aerodrome Civil Works Completed Early Utilizing Savings Under the Renard Mine Road Credit Facility Tree Cutting Area Runway Centerline First Landing: November 5th
  • 22. 22 Site Progress October 2013 R65 Borrow Pit Tree Clearing Bulk Sample DMS Plant Construction Camp Renard Mine Road R65 R2 R9 R4
  • 23. 23 Project Schedule January 2013 Optimization Study BFS (Complete) ESIA (Complete) Community Hearings (Complete) Reg. Authorizations (Complete) Specific Operating Permits (50) Detailed Engineering Project Financing Road Construction Site Construction Commissioning and Ramp-up Commercial Production 2011 2H 2H 2H 2H2H 1H 1H 1H1H 2012 2013 2014 2015 2H1H 2016 First Vehicle Access The timely completion of mine project financing is the principal driver on the schedule of project construction and start up
  • 24. 24 Québec’s First Diamond Mine – Ready to Build Project Green-lighted: Authorizations Issued Community Agreements in Place Stornoway Operating Team in Place Access Road Opened 2 Months Ahead of Schedule and Under Budget LNG Power Plant Results in Meaningful Cost Savings Resource Continuing to Grow Favourable Cost Environment for Project Construction Stornoway is Focused on Completing Project Financing for Construction in 2014 and 2015, with first Production in 2016
  • 25. 2525 Appendix 1: NI 43-101 Mineral Reserves and Mineral Resources
  • 26. 26 Probable Mineral Reserve Mining Recovery Factors Utilized in the Reserve Calculation Kimberlite Grade (cpht) Tonnes (millions) Contained Carats (Millions) Internal Dilution Mining Recovery Mining Dilution Renard 2 OP 95 1.31 1.24 0.0% 96.0% 7.1% Renard 2 UG 80 17.03 13.62 7.0% 82.4% 20.2% Renard 3 OP 93 0.72 0.67 0.0% 96.0% 10.5% Renard 3 UG 84 1.00 0.84 21.1% 85.0% 14.0% Renard 4 UG 42 3.72 1.58 1.4% 78.2% 14.0% Total 75 23.79 17.95 5.9% 82.9% 17.9% Notes: Reserve categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Totals may not add due to rounding. Grades are estimated at a +1DTC sieve size cut-off. R2 , 83% R3, 8% R4, 9% Revenue R2 , 77% R3, 7% R4, 16% Tonnage R2 , 83% R3, 8% R4, 9% Carats NI 43-101 Probable Mineral Reserves January 28th 2013
  • 27. 27 Notes: Resource categories are compliant with the "CIM Definition Standards on Mineral Resources and Reserves". Mineral resources that are not mineral reserves do not have demonstrated economic viability. Indicated Mineral resources are Inclusive of the Mineral Reserve. Totals may not add due to rounding. Grades are estimated at a +1DTC sieve size cut-off. Renard NI 43-101 Mineral Resources July 23rd 2013. Changes to Previous January 2011 Mineral Resource in Italics Kimberlite Grade (cpht) Tonnes (millions) Contained Carats (Millions) Renard 2 – Total 100 (n/a) 18.58 (n/a 18.66 (n/a) Renard 2 104 (+1.2%) 17.71 (-0.4%) 18.38 (+1.6%) Renard 2 CRB-2a 32 (n/a) 0.87 (n/a) 0.28 (n/a) Renard 3 103 (-2.2%) 1.76 (+0.5%) 1.82 (-1.7%) Renard 4 60 (+13.1%) 7.25 -- 4.31 (+13.0%) Renard 65 29 (n/a) 7.87 (na) 2.30 (n/a) Total Indicated 76.4 (-14.3%) 35.45 (33.1%) 27.09 (+14.0%) Renard 2 – Total 64 (n/a) 11.77 (n/a) 7.47 (n/a) Renard 2 119 (+1.2%) 5.23 (+0.4%) 6.23 (+1.6%) Renard 2 CRB 19 (n/a) 6.54 (n/a) 1.24 (n/a) Renard 3 112 (-4.5%) 0.54 (+0.2%) 0.61 (-4.2%) Renard 4 50 (+13.7%) 4.75 (-0.1%) 2.37 (+13.7%) Renard 9 53 (+13.2%) 5.70 (+0.1%) 3.04 (+13.2%) Renard 65 24 (-16.8%) 4.93 (-61.9%) 1.18 (-68.3%) Lynx Dyke 107 -- 1.80 -- 1.92 -- Hibou Dyke 144 -- 0.18 -- 0.26 -- Total Inferred 56.8 (+1.2%) 29.67 (-4.6%) 16.85 (-3.5%)
  • 28. 28 Notes: The potential quantity and grade of any exploration target (previously referred to as “potential mineral deposit”) is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The exploration upside for the Renard kimberlite pipes has been determined by projecting reasonable kimberlite volumes from the base of the inferred Resource to a depth of 700m below surface. In the case of the Lynx and Hibou dykes, the exploration upside was established on the basis of known drill intersections of kimberlite for which insufficient diamond sampling exists to adequately estimate a diamond resource grade. Target for Further Exploration July 23rd 2013. Changes to Previous January 2011 Estimates in Italics Kimberlite Grade (cpht) Tonnes (millions) Contained Carats (Millions) Renard 2 104 to 158 4.0 to 4.6 4.2 to 7.3 Renard 3 105 to 168 0.8 to 1.7 0.8 to 2.8 Renard 4 50 to 77 11.1 to 15.4 5.6 to 11.8 Renard 9 52 to 68 3.9 to 6.3 2.0 to 4.3 Renard 65 25 to 33 29.0 to 40.9 7.3 to 13.5 Lynx Dyke 96 to 120 3.1 to 3.2 3.0 to 3.8 Hibou Dyke 104 to 151 2.7 to 2.9 2.9 to 4.3 Total Exploration Upside 54.6 (-0.8%) to 74.9 (-0.8%) 25.7 (+9.1%) to 47.8 (-1.4%)
  • 29. 2929 Appendix 2: Feasibility Study and Feasibility Optimization
  • 30. 30 Chronology of Renard Studies Feasibility Study Released on November 16th 2011. NI 43-101 Technical Report filed December 29 2011. 11 Year Mine Plan based on 18Mcarat Mineral Reserve derived from January 2011 NI 43-101 Resource. Long Term Business Plan Companion study to the Feasibility Study with an extended mine plan incorporating the project`s 17.5 million carats of Inferred Mineral Resources. Basis of overall mine design and project permitting. Not part of the project`s public disclosure, consistent with Canadian reporting standards Optimization Study Released on January 28th, 2013. NI 43-101 Technical Report filed March 2013. Refined of Feasibility mine design, including shaft deferral and a modified underground mining sequence. 11 Year Mine Plan based on 17.9 million carat Mineral Reserve. Resource Update Released July 2013. NI 43-101 Resource update with 14% increase in Indicated Resource contained carats LNG Feasibility Study Released October 2013. Modified project Cap-ex and Op-ex for LNG powered gensets
  • 31. 31 Optimization Study Financial Analysis Project Assumptions, Valuation and Pay-Back Key Assumptions in the Financial Model1 Mining Parameters Reserve Carats (M) 17.9 Tonnes Processed (M) 23.8 Recovered Grade (cpht) 75 Average Ore Recovery (%) 82.9% Average Mining Dilution (%) 17.9% Dilution Grade (cpht) 0 Processing Rate (Mtonnes/annum) 2.2 Mine Life (years) 11 Cost Parameters Initial Cap-ex (C$M)2 $752 LOM Cap-ex (C$M)4 $1,013 Oil Price (US$/barrel)2 $95 LOM Op-ex (C$/tonne)2 $57.63 LOM Op-ex (C$/carat)2 $76.63 Revenue Parameters Gross Revenue (C$M)2 $4,268 Marketing Costs 2.7% DIAQUEM Royalty 2.0% Cash Operating Margin (C$M)2 $2,693 % Operating Margin 67% Income Tax, Mining Duties and IBA Payments (C$M)1 $625 After Tax Net Cash Flow (C$M) $1,084 Diamond Price Parameters3 Renard 2 and Renard 3 (US$/carat) $182 Renard 4 (US$/carat) $164 Diamond Price Escalation 2.5% Exchange rate 1C$=1US$ Schedule Parameters Effective Date for NPV Calculation Jan. 1 2013 Construction Mobilization/Early Works Aug. 1 2013 Plant Commissioning Commences Dec. 1 2015 Commercial Production Declared Jun. 1 2016 Valuation Results5 (C$m) Pre-Tax After Tax NPV5% $894 $537 NPV7% (Base Case) $683 $391 NPV9% $514 $274 IRR 20.4% 16.3% Pay-Back (years) 4.69 4.82 Notes 1. Optimization Study, released January 28th 2013. 2. Expressed in October 2012 terms. 3. Expressed in May 2011 terms. 4. Expressed in nominal terms. 5. Expressed in Dde-escalated nominal terms.
  • 32. 32 Optimization Study Financial Analysis Capital Costs Capital Costs1 (C$m) Site Preparation & General $32.7 Mining $151.2 Mineral processing plant $175.4 Onsite utilities and infrastructures $114.8 Owner’s Cost $94.7 Spares, fills, tools $7.1 EPCM services $47.9 Field indirect costs, vendor representatives $33.9 Construction camp & Catering $24.5 Freight and duties $5.5 Contingency $64.7 Total Initial Capital $752.1 Escalation Allowance on Initial Capital $45.1 Pre-Production Revenue $(25.0) Deferred & Sustaining Capital2 $175.9 Deferred Capital (Route 167 Extension) $0.0 Renard Mine Road2 $78.0 Salvage Value2 $(13.3) Total LOM Capital $1,012.9 Site Prep. & General 7% Mining 32% Plant 37% Onsite utilities and infrastruc. 24% Direct Costs (C$474m) Owner’s Cost 34% Spares 3% EPCM 17% Field, Vendor reps 12% Camp 9% Freight 2% Contin. 23% Indirect Costs (C$278m) Notes 1. Optimization Study, released January 28th 2013. 2. After Escalation
  • 33. 33 Optimization Study Financial Analysis Operating Costs Notes: 1. Optimization Study, released January 28th 2013. Costs are expressed in October 2012 terms. Totals may not add due to rounding. 2. Unit cost per processed tonnes. Open Pit Unit Costs1 $/tonne Open Pit 21.22 Processing 15.29 G&A2 and Infrastructure 18.27 Total Open Pit3 54.78 Underground Unit Costs1 $/tonne Underground 23.64 Processing 15.29 G&A2 and Infrastructure 18.27 Total Underground3 57.20 Life of Mine Operating Costs1,4 (Real Terms) Total Operating Cost (C$M) 1,352 Diamond Prod. (Mcarats) 17.6 Production Cost3 57.63 C$/ t 76.63 C$/ ct 3. G&A unit costs do not include closure cost 4. “Life of Mine Operating Costs” exclude diamond production prior to Commercial Production and exclude pre-production operating costs, which are capitalized. Open Pit, $10m, 1% UG Mine, $555m, 41% Plant, $359m, 26% G&A, $429m, 32% Operating Cost (C$1,352m)
  • 34. 34 Optimization Study Financial Analysis Carat Production and Revenue Revenue Parameters1 (Real Terms) Total Gross Revenue (C$m) $4,268 Marketing Costs (%) 2.7% DIAQUEM Royalty (%) 2.0% Cash Operating Margin (C$m) $2,693 % Operating Margin 67% Taxes and Mining Duties and IBA Payments (C$m) $625 Cumulative After Tax Cash Flow (C$m) $1,084 Production Parameters1 (Mcarats) Renard 2 Open Pit 1.24 Renard 3 Open Pit 0.67 Total Open Pit 1.91 Renard 2 Underground 13.62 Renard 3 Underground 0.84 Renard 4 Underground 1.58 Total Underground 16.03 Total 17.95 11% 89% Diamond Production by Mining Method Open Pit Underground 83% 8% 9% Diamond Production by Kimberlite Pipe Renard 2 Renard 3 Renard 4 Notes: 1. Optimization Study, released January 28th 2013.
  • 35. 35 Optimization Study Financial Analysis Project Valuation Sensitivities 80% 90% 100% 110% 120% Operating Cost 19.6% 18.0% 16.3% 14.6% 12.8% Capital Cost 21.2% 18.6% 16.3% 14.4% 12.6% Revenue 9.5% 13.1% 16.3% 19.3% 22.1% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0%After Tax IRR 80% 90% 100% 110% 120% Operating Cost 24.3% 22.3% 20.3% 18.3% 16.1% Capital Cost 26.0% 22.9% 20.3% 18.0% 16.0% Revenue 12.1% 16.4% 20.3% 23.9% 27.2% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 80% 90% 100% 110% 120% Operating Cost 526,139 460,174 391,480 320,039 245,911 Capital Cost 506,817 449,806 391,480 331,668 272,020 Revenue 99,135 246,431 391,480 535,409 677,695 0 100 200 300 400 500 600 700 80% 90% 100% 110% 120% Operating Cost 891,143 789,142 683,499 574,143 461,111 Capital Cost 845,695 764,629 683,499 601,269 519,031 Revenue 231,318 457,408 683,499 909,511 1,135,60 0 200 400 600 800 1,000 1,200Pre-Tax IRR After Tax NPV Pre-Tax NPV
  • 36. 36 Liquefied Natural Gas Power Plant Feasibility Study Released October 2013 With a view to project optimization, Stornoway has been investigating more cost efficient alternatives for on-site power supply than traditional diesel fuelled gen- sets. A Hydro-Québec powerline has been ruled out in the short term due to high cap-ex cost. On October 21st Stornoway announced it will proceed with an LNG fuelled gen-set option, made possible by the ability to receive regular cryogenic LNG shipments on the Renard Mine Road. The Renard LNG plant will comprise seven 2.1MW rated gas gen-sets, providing sufficient power generation capacity for the project’s normal operating specification of 9.5MW.
  • 37. 37 Liquefied Natural Gas Power Plant Feasibility Study Released October 2013 An LNG fuelled powerplant for Renard offers many advantages over diesel: • Greatly reduced annual operating costs of $8m to $10m per year, for a small incremental capital cost of $2.6m. • Up to 43% less greenhouse gas emissions. • Long term, stable supply market utilizing existing commercial distribution network within Quebec. • Elimination of on-site propane, as LNG will be used for building and underground mine heating. Diesel will continue to be used for the mobile mining fleet and construction activities Cost Improvements with LNG Jan 2013 Optimization Study with Diesel Jan 2013 Optimization Study with LNG Unit Power Cost (C$/kWh) 1 $0.299 $0.188 (-37%) Unit Operating Cost (C$/tonne) 1,2 $57.63 $53.84 (-7%) Initial Capital Cost (C$m) 1 $752.1 $754.0 (+0.3%) Life of Mine Capital Cost (C$m) 1,3 $1,013 $1,010 (-0.3%) Annual Diesel Consumption (million litres) 27.5 5.9 (-79%) Annual LNG Consumption (thousand m3 /annum) n/a 41.7 Annual Propane Consumption (thousand m3 /annum) 3.5 n/a Notes 1. January 2013 Optimization Study costs expressed in October 2012 terms. 2. Excludes capitalized preproduction costs. 3. Includes all initial, sustaining and deferred capital, contingencies and escalation Key Assumptions Based on the 11 year reserve-based mine life (17.9 mcarats) contained within the January 2013 Optimization Study, with a normal operating load of 9.49MW, C$1=US$1, Oil US$95/barrel
  • 39. 39 Diamond Industry Cost Curve Source: Published FY2012 Results, FS Life of Reserve Data and Company Estimates World Diamond Project Comparables Cost/Revenue
  • 40. 40 Project Comparables Recent Canadian Diamond Mines Compared as of the Date of each FS Source: Company Reports and Stornoway Estimates. Excludes resource and diamond price upside from both projects. Excludes diamond price escalators. Assumes similar diamond recovery and mining dilution parameters. Ekati (1998) BHPB, As Built Estimates Diavik (1999) Rio-Tinto, As Built Estimates Victor (2008) De Beers, As Built Estimates Renard FS Optimization Study (2013) Resource Parameters Resource (m carats) 161 133 No data 41 Resource (US$) $10B $6.7B No data $7.2B Resource Grade (cpht) 110 360 No data 72 Average Resource Diamond Price $60 $50 No data $175 Resource Mine Life 25 25 No data n/a Reserve Parameters Reserve (carats) 72 102 6 17.9 Reserve (dollars) $6B $5.5B $2.4B (est) $3.2B Reserve Grade (cpht) 109 400 20 75 Average Reserve Diamond Price $84 $55 $400 $180 Average Reserve Ore Value (US$) $92 $220 $80 $136 Reserve Mine Life 17 19 12 11 Production Parameters Annual Production (mCarats) Up to 3.6 Up to 7 0.5 1.7 Annual Revenue (US$m) $302 $385 $215 $306 LOM Op-ex (Cdn$/tonne) $100 to $60 $100 No data $58 LOM Op-ex (Cdn$/carat) $92 to $55 $25 No data $76 Canadian-US Dollar c.$0.75 $0.67 c.$1.00 $1.00 Pre-Production Cap-ex (Cdn$) $900m $1.3B $982m $752m
  • 41. 41 Project Comparables Recent Canadian Diamond Development Projects Compared as of the Date of each FS Gahcho Kué FS (2010) De Beers/Moun. Prov. Star-Orion FS (2011) Shore Gold Renard FS Optimization Study (2013) Resource Parameters Resource (m carats) 61 43 41 Resource (US$) $5.1B $11B $7.2B Resource Grade (cpht) 168 12 72 Average Resource Diamond Price $85 (WWW Apr 10) $65 (DTC Apr 10) $256 (WWW Feb 11) $175 (WWW May 11) Resource Mine Life n/a n/a n/a Reserve Parameters Reserve (carats) 49 34 17.9 Reserve (dollars) $3.7B $8.2B $3.2B Reserve Grade (cpht) 157 12 75 Average Reserve Diamond Price $75 $242 $180 Average Reserve Ore Value (US$) $118 $30 $136 Reserve Mine Life 11 20 11 Production Parameters Annual Production (mCarats) 4.5 1.7 1.7 Annual Revenue (US$m) $338 $411 $306 LOM Op-ex (Cdn$/tonne) $49 $14 $58 LOM Op-ex (Cdn$/carat) $31 $114 $76 Canadian-US Dollar 0.96 0.945 1.00 Pre-Production Cap-ex (Cdn$) $550m ($800m De Beers Dec 11) $1.9B $752m Source: Company Reports. Excludes resource and diamond price upside from both projects. Excludes diamond price escalators. Assumes similar diamond recovery and mining dilution parameters.
  • 42. 4242 Appendix 4: The Diamond Market
  • 43. 43 Major Diamond Mines and Development Projects Worldwide Few Enough Mines to Fit on One Map South Africa • Venetia (De Beers) • Finsch, Premier (Petra Diamonds) • Lace (DiamondCorp) Tanzania • Williamson (Petra Diamonds) Russia • Arkhangelsk District (Alrosa) • Yakutia District (Alrosa) • Grib (LUKOIL) India • Bundar (Rio Tinto) Australia • Argyle (Rio Tinto) • Ellendale (Gem Diamonds) Canada • Ekati (BHPB) • Diavik (Rio Tinto/Harry Winston) • Victor, Snap Lake, Gahcho Kue (De Beers) • Renard (Stornoway) • Star (Shore Gold/Newmont) Botswana • Jwaneng, Orapa (De Beers) • Gope (Gem Diamonds) • Karowe (Lucara Diamonds) Angola • Catoca (Alrosa) Democratic Republic of Congo • Mbuyi-Mayi Sierra Leone • Koidu, (Steinmetz Group) Lesotho • Letseng (Gem Diamonds) • Kao (Namakwa Diamonds) • Liqhobong (Firestone) • Mothai (Lucara)
  • 44. 44 The Rough Diamond Business in Context 1/8th the Size of the Copper Business Source: USGS, LME, Kimberly Process
  • 45. 45 The Diamond Pipeline An Industry with Many Intermediaries Source: Tacy D.I.B.April 2013 Production Cost Production Value Mine Sales to Industry Rough Sales to Cutting Centers Value of Polished Produced Value of Diamonds in Retail Jewelery Sales Retail Sales of Diamond Jewelery Estimated Average Margins after Costs (%) Polishing: -10 to 15% Jewelery Manufac: -10 to 10% Jewelery Retail: 20 to 50% Mine Production Rough Trading and Diamond Polishing Diamond Jewelery Value in US$B terms of each stage of the diamond pipeline Rough Mining: 0 to 50% Rough Dealing: 0 to 10% $6.0B $13.37B $15.5B $15.2B $17.6B $21.9B $72.1B
  • 46. 46 Future Rough Diamond Supply 0 20 40 60 80 100 120 140 160 180 Produciton/SupplyMct Alluvial Open Cut U/G 3x increase in U/G carats Higher cost De Beers Production Forecast Rio Tinto Production Forecast Almost all rough diamond production forecasts show flat or declining production long term. De Beers see production peaking in 2017, and broad reserve depletion thereafter. Rough production is not expected to reach 2008 levels in carat terms again. No large scale diamond mine has been discovered since the discovery of EKATI and Diavik in the early 1990s. The movement to underground mining in Russia, South Africa and Canada will lower overall industry margins.
  • 47. 4747 Rough Diamond Supply and Demand Forecasts An Example: Bain September 2013 Rough Diamond Demand Supply and Demand Rough Diamond Supply Since 2012, Bain & Co in partnership with the Antwerp World Diamonds Center have published an annual review of the diamonds sector. The September 2013 edition forecasts a rough diamond supply CAGR of 2% and a rough diamond demand CAGR of 5.1%.
  • 48. 48 $109 $121 $117 $182 $190 0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1 0 100 200 300 400 500 600 700 2007 2008 2009 2010 2011 2012 2013 IndexOctober2003=100 Commodity Index Data WWW R.I. Polished Prices Index Gold IMF CPI IMF IPI IMF CPI NonFuel IMF Coal(Aust) IMF Metal IMF Cu S&P TSX Comp Index S&PTSXCompositeIndexWeeklyClosingS&PTSXCompositeIndexWeeklyClosingS&PTSXCompositeIndexWeeklyClosingS&PTSXCompositeIndexWeeklyClosing Rough Diamond Pricing Since 2003 Rough and Polished Diamonds Against a Basket of Indicators, 2003- October 2013 Source: LME, IMF, Rough Diamond Price data after WWW International Diamond Consultants Limited Indexed to October 2003. CAGR in Nominal Terms. WWW R.I. to May 2013 8% CAGR in Rough Prices 2003-2012
  • 50. 50 Hume Kyle Independent Zara Boldt CFO and VP Finance Pat Godin COO & Director Matt Manson President, CEO & Director Michel Blouin Independent/ IQ Designate Yves Harvey Independent John LeBoutillier Independent/ IQ Designate Monique Mercier Independent/ IQ Designate Peter Nixon Independent Ebe Scherkus Independent/ Board Chairman Executive Officers Non-Executive Directors Key Managers Head Office: Longueuil, Québec Exploration Office: North Vancouver, BC Community Offices: Mistissini & Chibougamau Québec Stornoway’s Board and Management Team Serge Vézina Independent Orin Baranowsky Director, IR Jean-Charles Dumont Corporate Controller Yves Perron VP Engineering & Construction Ghislain Poirier VP Public Affairs Brian Glover VP Asset Protection Martin Boucher VP Sustainable Development Guy Bourque Chief Mining Engineer Helene Robitaille Director, HR Robin Hopkins VP Exploration Mario Courchesne Construct. Manager Freddie Mianscum IBA Implem. Officer
  • 51. 51 PRESIDENT, CHIEF EXECUTIVE OFFICER AND DIRECTOR STORNOWAY DIAMOND CORPORATION 49 WELLINGTON STREET EAST, SUITE 300 TORONTO, ONT M5E 1C9 TEL. : (416) 304-1026 www.stornowaydiamonds.com TSX:SWY Matt Manson, PhD. Matt Manson was appointed President of Stornoway Diamond Corporation in March 2007 following the acquisition of Ashton Mining of Canada and Contact Diamond Corporation, and subsequently President & CEO in January 2009. As President & CEO, Mr. Manson is responsible for the management of the company as a whole, playing a leadership role in all key business units including finance and budgets, exploration, human resources, investor relations and advanced project development including the Renard Diamond Project. Between 1999 and 2005 he was employed by Aber Diamond Corporation (now Harry Winston Diamond Corporation) as VP Marketing and subsequently VP Technical Services & Control, during which time he participated in the US$230m project financing for the Diavik Diamond Project and oversaw Aber's technical and marketing operations during the feasibility, construction and early production phases of Diavik. Between 2005 and 2007 he was employed by Contact Diamond Corporation, formerly Sudbury Contact Mines and a 40% owned subsidiary of Agnico- Eagle Mines Limited, as President & COO and subsequently President & CEO. Mr. Manson is a graduate of the University of Edinburgh (BSc Geophysics, 1987) and the University of Toronto (MSc Geology 1989 and PhD Geology, 1996), and has over 17 years of experience in diamond exploration, development and production. Appendix: Management Biographies
  • 52. 52 CHIEF OPERATING OFFICER AND DIRECTOR Patrick Godin, Eng., Asc. Pat Godin joined Stornoway as Chief Operating Officer in May 2010 and was appointed to the Board of Directors in October 2011. He is responsible for the development of the Renard Diamond Project in north- central Québec, on track to becoming Québec’s first diamond mine. Prior to joining Stornoway Diamond, Mr. Godin acted as Vice President, Project Development for GMining Services, focused on the development of mining projects in the Americas and West Africa, and was responsible for the developed of the Essakane Mine in Burkina Faso under contract to IAMGOLD. He was previously Vice President of Operations for Canadian Royalties, specifically heading the development of their nickel project in Northern Québec. He was also President and General Manager of CBJ-CAIMAN S.A.S., a French subsidiary of Cambior / IAMGOLD, holder of the Camp Caïman gold mining project located in French Guiana. For many years, he was involved in Cambior’s various Canadian properties in Abitibi- Témiscamingue, through progressive management positions in project development and mine management. He holds a bachelor’s degree in mining engineering from Université Laval in Québec. Mr. Godin is a member of the “Ordre des Ingénieurs du Québec”, of the Certified Directors College and of The Canadian Institute of Mining, Metallurgy and Petroleum (CIM). He is the Chairman of the Board of Geomega Resources and a director of Orbit-Garant Drilling. STORNOWAY DIAMOND CORPORATION 1111 RUE ST. CHARLES O. LONGUEUIL, QUÉBEC J4K 4G4 TEL. : (450) 616-5555 www.stornowaydiamonds.comTSX:SWY Appendix: Management Biographies
  • 53. 53 VICE PRESIDENT, FINANCE AND CFO Zara Boldt, B.A., CGA Zara Boldt was appointed Vice President, Finance with Stornoway in May 2007, after serving as Stornoway’s Controller between 2004 and 2007, and Chief Financial Officer in March 2010. As Vice President Finance and CFO, Ms. Boldt is responsible for the management of the corporate and financial affairs of the corporation, and for the oversight of its regulatory reporting requirements. Ms. Boldt has held positions of progressive responsibility with several mineral exploration companies, in addition to several years of experience with a national investment dealer. Her most recent resource industry roles include CFO for Sherwood Copper Corporation from May 2006 to May 2007 and Controller for the Northair Group of Companies between May 2004 and April 2007. Ms. Boldt is a Certified General Accountant and a graduate of the University of Puget Sound in Tacoma, Washington. She is a director of Troon Ventures Ltd., where she serves as Chair of the Audit Committee. STORNOWAY DIAMOND CORPORATION 980 W FIRST STREET, #116 NORTH VANCOUVER, BC, V7P 3N4 TEL. : (604) 983-7750 www.stornowaydiamonds.comTSX:SWY Appendix: Management Biographies
  • 54. 54 Stornoway Diamond Corporation TSX:SWY Head Office: 1111 Rue St. Charles Ouest, Longueuil, Québec J4K 4G4 Tel: +1 (450) 616-5555 IR Contact: Orin Baranowsky, CFA, Director IR obaranowsky@stornowaydiamonds.com Tel: +1 (416) 304-1026 x103 www.stornowaydiamonds.com Info@stornowaydiamonds.com