CONTRACT FOR NUNAVUT DIAMOND VALUATOR AWARDED

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OTTAWA, ONTARIO (November 15, 2005) - The Honourable Ethel Blondin-Andrew, the Minister of State (Northern Development), on behalf of the Minister of Indian and Northern Affairs Canada (INAC), is pleased to announce the awarding of the first ever Nunavut diamond valuation contract to Diamonds International Canada (DICAN) Limited. The duration of the contract will be three years, commencing January 2006, with the option of a further two-year extension.

“Diamond mining is an exciting new industry for Nunavut and one which fits well with the Government of Canada’s objectives of environmentally-sensitive, sustainable development,” said Minister Blondin-Andrew. “With the awarding of this contract, Canada has now secured the services it requires to value diamonds before they leave the country and provide a stable regulatory regime for this burgeoning industry.”

This contract was awarded following an international tender process, which included the use of a fairness monitor. DICAN will be responsible for ascertaining the gross value of diamonds produced by Tahera Diamond Corporation’s Jericho Mine, as well as conducting other diamond consulting services on behalf of INAC for royalty assessment purposes. The Jericho Mine, located near Contwoyto Lake in the Kitikmeot Region, will be the first diamond mine in the Nunavut Territory and is expected to start production in early 2006. DICAN is also the current Government Diamond Valuator for the Northwest Territories.

“I welcome the awarding of this contract and look forward to the opening of the Jericho Mine and the long-term employment and business opportunities it brings to the Kitikmeot region and all of Nunavut,” said Nancy Karetak-Lindell, Member of Parliament for Nunavut.

DICAN is a Yellowknife-based company that is 51% owned by Aboriginal Diamonds Group and 49% owned by WWW International Diamond Consultants Ltd. (WWW). The Aboriginal Diamonds Group is an Aboriginal-owned corporation and an equal partnership among Nishi Khon Enterprises Inc., Deton'Cho Corporation, and Kitikmeot Corporation. These corporations represent the business interests of the Tlicho Nation, the Yellowknife Dene First Nation and the Kitikmeot Inuit Association, respectively. WWW is a London-based diamond consulting firm composed of a team of expert rough diamond valuators. WWW is providing technical and management expertise to DICAN, as well as training and transfer of knowledge to Canadian Aboriginals, Canadian government officials, and other Canadians.

For further information:

INAC Media Relations
(819) 953-1160

Backgrounder - Diamond Mining in Canada's North

Backgrounder - The Canadian Government Diamond Valuator

Backgrounder - Diamonds International Canada Limited