October 29, 2012: Montreal, Quebec – Stornoway Diamond Corp. (Stock Profile – TSX: SWY) providing an update on construction progress on the Route 167 Extension, the road development project being undertaken by the Quebec Ministry of Transportation that will provide year round highway access to Stornoway’s 100% owned Renard Diamond Project by way of the communities of Mistissini and Chibougamau.
Construction on the 243km long Route 167 Extension began in February of this year, and is being undertaken in four segments, “A” to “D” (see diagram – click here). Construction on the southernmost segments A and B is progressing well, and to date 109km out of 143km has been completed to a standard sufficient for vehicle access.
In the north, tree clearing and ground surveying are approaching completion over the 100km of the road covered by segments C and D. However, Stornoway has been advised by the Quebec Ministry of Finance that it intends to conduct a review of overall construction expenditures on the Route 167 Extension prior to the granting of contracts to complete the civil works on these northernmost segments.
On the basis of the Ministry of Transportation’s current plan for the construction of the Route 167 Extension, the delay in awarding contracts for civil works on segments C and D will result in a delay in the provision of all-season road access to the Renard Diamond Project, which was previously scheduled for July 2013.
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