NEWS RELEASE.

November 13, 2013: Montreal, Quebec – Stornoway Diamond Corporation (Stock Profile – TSX:SWY) announced that it has entered into an amended agreement with Dundee Securities Ltd. as lead underwriter, together with a syndicate including Scotiabank and Desjardins Securities Inc. (collectively, the “Underwriters”), for a private placement financing on a bought deal basis of 9,200,000 flow-through common shares (“Flow-Through Shares”) at a price of $0.95 per Flow-Through Share for gross proceeds of $8,740,000 (the “Offering”). In addition, Stornoway has granted the Underwriters the option to purchase up to an additional 1,380,000 Flow-Through Shares to cover over-allotments (the “Over-Allotment Option”). The Underwriters may exercise the Over-Allotment Option at the issue price up to 48 hours prior to closing.

The Flow-Through Shares issued pursuant to the Offering will be subject to a four-month hold period. In the event that the Over-Allotment Option is exercised in its entirety, the gross proceeds of the Offering will be $10,051,000. Stornoway has agreed that expenditures incurred with proceeds from the Offering will constitute Canadian exploration expense (“CEE”) (as defined in the Income Tax Act) and will be renounced to the subscribers.

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