Stornoway marketing presentation as of May 28th, 2013. Includes a corporate, diamond market, and Renard Project overview.

1. BUILDING QUÉBEC’S FIRST DIAMOND MINE
Update May 28th 2013
Matt Manson
President, CEO & Director

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 capital costs, operating costs and other cost
metrics set out in the Feasibility Study or the Optimization Study; (v) assumptions relating to gross revenues, operating cash flow and other revenue
metrics set out in the Feasibility Study or the Optimization Study; (vi) assumptions relating to recovered grade, average ore recovery, internal dilution,
mining dilution and other mining parameters set out in the Feasibility Study or the Optimization Study; (vii) mine expansion potential and expected mine
life; (viii) expected time frames for completion of permitting and regulatory approvals and making a production decision; (ix) the expected time frames for
delivery of a winter road by the Québec Ministère des Transports, construction of a mining grade road by Stornoway and completion generally of the
Route 167 extension and the financial obligations or costs incurred by Stornoway in connection with such road extension; (x) future exploration plans; (xi)
future market prices for rough diamonds; and (xii) 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 by Stornoway or its consultants 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 ability to achieve
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) estimated approval date of the Environmental and Social Impact Assessment; (ii) required capital investment
and estimated workforce requirements; (iii) estimates of net present value and internal rates of return; (iv) receipt of regulatory approvals on acceptable
terms within commonly experienced time frames; (v) the assumption that a production decision will be made, and that decision will be positive; (vi)
anticipated timelines for the commencement of mine production; (vii) anticipated timelines related to the delivery of a winter road by the Québec Ministère
des Transports, construction of a mining grade road by Stornoway and completion generally of the Route 167 extension and the impact on the
development schedule at Renard; (viii) anticipated timelines for community consultations and the impact of those consultations on the regulatory approval
process; (ix) market prices for rough diamonds and the potential impact on the Renard Project’s value; and (x) future exploration plans and objectives.
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.

3. 3
Stornoway Diamond Corporation TSX:SWY
Strong Base Case Economics
World Class Resource Upside
All-Season Access Road Under Construction
Mining Lease and Certificate 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
In Project Financing
On Track for Construction Start-up in 2013

4. 4
Yves Perron
VP Engineering
& Construction
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
Serge Vézina
Independent
Executive Officers
Non-Executive Directors
Key Managers
Ghislain
Poirier
VP Public Affairs
Brian Glover
VP Asset
Protection
Martin Boucher
VP Sustainable
Development
Guy Bourque
Chief Mining
Engineer
Helene
Robitaille
Director, HR
Head Office: Longueuil, Québec
Exploration Office: North Vancouver, BC
Community Offices: Mistissini & Chibougamau Québec
John
Armstrong
Senior Geologist
Patrick Houle
Manager,
Community Dev.
Stornoway’s Board and Management Team
Robin
Hopkins
VP Exploration

5. 5
MAJOR SHAREHOLDINGS*
12 MONTH ANALYST TARGETSMarket Capitalization:
(based on voting and non-voting shares)
C$ 100 million
Total Shares Outstanding:
(Basic and Non-voting convertible shares)
163 million
Total Options & Warrants Outstanding:
(10m Options $0.60-$2.40 25m warrants $1.20)
35 million
Cash and Short Term Deposits:
(as of January 31, 2013)
C$ 36 million
Debt:
($100m Standby Facility with IQ undrawn)
C$ 46 million
IQ**
(common shares)
(non-voting convertible shares)
25.0%
--------
35.4%
Agnico-Eagle 10.5% 9.0%
Caisse de dépôt et placement du
Québec
8.1%
(est)
7.0%
(est)
Float 56.4% 48.6%
Fully
Diluted
Basic
RBC
Des Kilalea,
May 21st, 2013
Outperform-
Speculative Risk
$1.20
BMO
Ed Sterck
May 7th 2013
Market Perform $1.00
Desjardins
John Hughes
April 16th, 2013
Speculative Buy $1.70
Laurentian
Eric Lemieux
May 7th 2013
Buy $2.40
National Bank
Paolo Lostritto
December 11th, 2012
Outperform-
Speculative Risk
$2.00
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 $0.61 on May 27th 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. 66
The Diamond Market

7. 7
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)
• AK6 (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)

8. 8
Diamond Jewelry Demand is Forecast to Grow Dramatically
Share of World Diamond Jewelry Market, 2005 to 2020
US
49%
Japan
14%
Europe
10%
India (and
Asia-
Arabia)
13%
China (and
Asia-
Pacific)
10%
Others
4%
2005: $62B
US
42%
India (and
Asia-Arabia)
18%
China (and
Asia-Pacific)
15%
2010: $74B
US
27%
India (and
Asia-Arabia)
25%
China (and
Asia-Pacific)
32%
2020F: $128B
Source: AllanHochtreiter after De Beers, Tacy Ltd.,
1 CAGR estimates after Alrosa October 2011. Nominal Terms
Diamond Jewelry
CAGR of 5.6%1
2010-2020
Rough Diamond
CAGR of 10%1
2010-2020

9. 9
Future Rough Diamond Supply
0
20
40
60
80
100
120
140
160
180
Produciton/SupplyMct
Production and Supply Forecast (Rio Tinto)
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.

10. 10
Rough Diamond Pricing Since 2003
Rough and Polished Diamonds Against a Basket of Indicators, 2003-May 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 April/13
8% CAGR in
Rough Prices
2003-2012

11. 11
Diamond Industry Cost Curve
(Source: Published FY2012 Results, Life of Reserve Data and Company Estimates)
Renard Against Current
Canadian Mines
Renard Against Current
Canadian Mines

12. 1212
Towards Québec’s First Diamond Mine

13. 13
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

14. 14
Key Project Parameters
24 mcarat Indicated Mineral Resource
17 mcarat Inferred Mineral Resource
24-49 mcarat Exploration Upside
Reserve Based Mine Plan
(Feasibility Study Nov. 2011, Optimization Jan. 2013)
Mine Life 11 years
Mineral Reserve 17.9 mcarats
Initial Cap-ex $752m
Operating Cost $58/t ($76/carat)
Operating Margin 67%
Operating Cash Flow $2.7B
Average Diamond Price $180/carat
Average Diamond Production 1.6 mcarats/yr
After Tax NPV (7%; Jan 1 2013) $391m
After Tax IRR 16.3%
Production Startup December 2015
Long Term Plan
(Basis of Mine Permitting)
Includes the mining of the 17mcarat Inferred
Resources within the scope of the Feasibility Study
mine infrastructure: Extended mine life, increased
annual production, increased project valuation
*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.
Notes: 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.
Renard 4
53/44cpht
Renard 9
47cpht
Renard 65
29cpht
Renard 2
103/118cpht
Renard 3
106/118cpht
0m
100m
200m
400m
600m
710m
500m
300m

15. 15
Mine Plan
A Combined Open Pit and Underground Mine
Renard 4
Renard 2
Renard 3
Renard 65
View looking Northeast
Renard 2 Renard 3
Open Pit Mining
(years 1-2).
Underground Mining
(years 3-11).
Underground method: Blast Hole
Shrinkage, Panel Retreat with waste
backfill from pits.
Ramp access 610 meter level.
6,000 tpd plant capacity (2.2Mtonnes/year)
expandable to 7,000 tpd (2.5Mtonnes/year).
Pit at Renard 65 (initially) as a borrow-pit
and waste water sump, pending resource
conversion.

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
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.
May 2013: Federal Canadian “Comprehensive Study
Report“ issued, concluding that the Renard Project is “not
likely to cause significant adverse environmental effects”.
Environmental Assessment Decision expected shortly.

18. 18
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

19. 19
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
Notes: 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.
Renard’s Resource Upside
A Project with a Long Resource Tail and Very Long Mine Life Potential
The resource upside at depth at Renard is world class.
Although highly accretive, the project’s Inferred Mineral
Resources are not included in the Feasibility Study
economic analysis in accordance with NI 43-101.
Renard 4
53/44cpht
Renard 9
47cpht
Renard 65
29cpht
Renard 2
103/118cpht
Renard 3
106/118cpht
0m
100m
200m
400m
600m
710m
500m
300m

20. 20
Renard is Continuing to Grow
Renard 65 Bulk Sample: Expansion in the Project Reserve
Renard 65 currently contains:
• 3.7 mcarats of Inferred Mineral Resources
(12.9mtonnes at 29 carats per hundred tonnes)
• 6.8 to 13.7 mcarats of Exploration Target (29.5 to
41.6 mtonnes at 23 to 33 cpht)
Stornoway recently completed a successful 5,000
tonne bulk sample at Renard 65 in July 2012.
Diamond recovery of 963 carats with a March 2013
valuation of US$180/ct (with sensitivities of $203 & $169).
It is expected that these results will allow the successful
conversion of Inferred Resources at R65 to Indicated
by end Q2 2013 and subsequently, if warranted, a
Mineral Reserve.
The additional Reserve could be incorporated into the
mine plan in two ways:
1. add 1 year to the LOM and increase the
production rate to 2.5Mt/a or
2. add 3 years to the LOM as a reserve tail at a
production rate of 2.1Mt/a
The cost of developing a 75m deep pit at Renard 65 is
already contained within the Feasibility Study.
Renard 2
Renard 3
Renard 9
Renard 4
Renard 65
Three Renard 65 diamonds: 9.78 ct and 6.41 ct
diamonds recovered from the 2012 bulk
sample and a 4 carat stone discovered in
drillcore in 2003

21. 21
Renard’s Diamonds
Recent Valuation Conducted by WWW International Diamond Consultants Ltd. March 2013
Renard kimberlite pipes have a diamond population with a coarse size distribution and high
proportion of large white gems.
99% by weight gem/near-gem quality. 1% industrial quality boart.
Value Upside in Large Gems
• 17 stones recovered to date larger than 5 carats with average price of $3,100/ct. Model prices assumes $1,920
to $2,240 per carat for 5-10ct stones. Potential c.15% revenue upside.
• Diamonds larger than 10.8ct (“Specials”) estimated at three to six 50-100ct stones and one to two +100ct
stones every 100,000 carats (two weeks). Not accounted for in the revenue model,
Kimberlite
Body
Size of
Valuation
Sample
(carats)
WWW March
2013 Sample
Price
(US$/carat)1
WWW March
2013 Base
Case Price
Model
(US$/carat)1
Sensitivities
(Minimum to High)
Renard 2 1,580 $180 $190 $151 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.
10.15 carat gem
quality
octahedron
Renard 3 Bulk Sample Stones larger
than 2 carats. “Run of Mine”

22. 22
Project Schedule
BFS (Complete)
ESIA (Complete)
Community Hearings (Complete)
Certificates of Authorization
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

23. 23
The Route 167 Extension and the Renard Mine Road
A Canadian Diamond Project with Road Access.
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
An all-season access road connecting Renard to the
Québec Highway network is under construction.
Segments A & B of this road are being constructed by
Québec as a 2-lane highway. Segments C & D are
being constructed by Stornoway as the single lane
“Renard Mine Road”.
To complete this work, Québec has provided
Stornoway up to $85m of debt financing, repayable
upon commercial production at Renard.
Work is proceeding well. All season access to
Renard is on target for Q4 2013.
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 Bridge Spans
March 2013

24. 24
Stages of Road Construction
“Slashing” or Tree Clearing Preparation of Road
Foundation
Bridges or Culverts on
Stream Crossings
Completed Culvert Completed Road, Segment B,
September 2012
Grading

25. 25
What to Expect
Significant Development and Financing
Milestones in the next 6 months
Regular Development Milestones
• Road/Operating Licenses/Early Works
Renard Resource Update
• Due end of Q2
Guidance on Project Financing
• Project debt syndicate announced on
September 6th 2012 for a senior facility of up to
$475m (BMO, Scotia, NedBank, SocGen, EDC,
Caterpillar, IQ)
• Stornoway is currently pursuing the balance of
financing based on a combination of equity and
the forward sale of diamonds.
Stornoway is Targeting Construction
Mobilization in 2013

26. 26
0%
100%
200%
300%
400%
500%
600%
6-Sep-95
6-Mar-96
6-Sep-96
6-Mar-97
6-Sep-97
6-Mar-98
6-Sep-98
6-Mar-99
6-Sep-99
6-Mar-00
6-Sep-00
6-Mar-01
6-Sep-01
6-Mar-02
6-Sep-02
6-Mar-03
6-Sep-03
6-Mar-04
6-Sep-04
6-Mar-05
6-Sep-05
6-Mar-06
6-Sep-06
6-Mar-07
6-Sep-07
B
A. 1994-1995 – Discovery of A21, A154S, A154N, A418 pipes
B. July 1995 – Bulk Sample Completed
C. September 1996 – Pre-Feasibility Completed
D. July 1999 – Announces equity financing of $100.0m with Tiffany and Co and Off-Take Deal
E. July 1999 – Feasibility Completed
F. November 1999 – Principal Permits Received
G. December 2000 – Sells minority stake in Snap Lake Project to De Beers for $173.00 mm,
H. November 2001 – Bank financing of $230.0 m
I. January 2003 – First Production
A
C
D
E
H
I
Post Financing,
De-Risking Phase
Aber Diamond Corporation Stockprice Index Sept. 95 to Sept. 07
Production
G
F
Why Invest in Stornoway?
The Lassonde Curve: Value Creation through Project Financing and Development
4x Return
1999-2004
Stornoway’s
Objective is to Build
Shareholder Value by
Building Renard
SWY December 2008 to January 2013
Discovery/
Resource
Growth
Pre-Feas/
Feas Post-Feas
Pre-Financing
Low Point

27. 2727
Appendix 1: NI 43-101 Mineral Reserves and Mineral Resources

28. 28
Renard NI 43-101 Mineral Resource Estimate
Announced January 24th, 2011
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.
Kimberlite
Grade
(cpht)
Tonnes
(millions)
Contained Carats
(Millions)
Renard 2 103 17.63 18.09
Renard 3 106 1.75 1.85
Renard 4 53 7.25 3.81
Renard 9 -- -- --
Lynx Dyke -- -- --
Hibou Dyke -- -- --
Total Indicated 89 26.63 23.76
Renard 2 118 5.21 6.14
Renard 3 118 0.54 0.64
Renard 4 44 4.76 2.09
Renard 9 47 5.70 2.69
Renard 65 29 12.94 3.72
Lynx Dyke 107 1.80 1.92
Hibou Dyke 144 0.18 0.26
Total Inferred 56 31.12 17.45

29. 29
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.
Kimberlite
Grade
(cpht)
Tonnes
(millions)
Contained Carats
(Millions)
Renard 2 103 to 188 4.0 to 4.6 4.1 to 8.6
Renard 3 107 to 168 0.8 to 1.6 0.8 to 2.8
Renard 4 38 to 79 11.1 to 15.3 4.2 to 12.1
Renard 9 45 to 50 3.9 to 6.3 1.7 to 3.2
Renard 65 23 to 33 29.5 to 41.6 6.8 to 13.7
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
55.1 to 75.5 23.5 to 48.5
Renard Exploration Upside
Announced January 24th, 2011

30. 30
Renard Resource Upside
Inferred Resources and TFFE Not in Reserve Case Mine Plan
0m
100m
200m
400m
600m
710m
500m
300m
Inferred Resource
Exploration Target
Indicated Resource
0.8 to 2.8
mcarats
0.6 mcarats
6.1
mcarats
4.1 to 8.6
mcarats
3.7 mcarats
2.7 mcarats
6.8 to 13.7
mcarats
4.2 to 12.1
mcarats
1.7 to 3.2
mcarats
Notes: 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.
Renard’s Inferred Resources and TFFE
represent a potential increase over the
current Indicated Resource of 170% to
280%.
Each kimberlite remains open at 770m
depth

31. 31
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
Restated January 28th 2013

32. 3232
Appendix 2: Feasibility Studies and Project Sensitivities

33. 33
Chronology of Renard Studies
Feasibility Study
Released on November 16th 2011. National Instrument (“NI”) 43-101 Technical Report filed December
29 2011 [insert hyperlink].
11 Year Mine Plan based on 18 million carat Mineral Reserve.
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, representing an amended Feasibility
Study, to be filed within 45 days.
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.

34. 34
Feasibility Study Contributors
Capital and Operating Cost Estimates, Onsite Infrastructure Design,
Construction Strategy, Risk Assessment
Process Plant, Underground Mine Design and Underground Reserve
Open Pit Design, Open Pit Reserve and Financial Analysis
Geotechnical, Processed Kimberlite Containment, Waste Water Management
Environmental, Social and Permitting Considerations
Rock Mechanics, Hydrogeology
NI 43-101 Resource
Human Resources, Operating Plan, Marketing Plan

35. 35
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.

36. 36
Diamond Price Assumptions
The Diamond Market, January 2010 to March 2013
100
150
200
250
300
350
01/01/10 01/01/11 01/01/12 31/12/12
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%
May 2011 Valuation
utilized in the FS based
on the average of 5
diamantaires c.10%
below the WWW rough
index price
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).

37. 37
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

38. 38
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)

39. 39
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.

40. 40
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

41. 41
Financial Analysis
Renard Diamond Valuation. Conducted by WWW May 9th to 13th 2011
Conducted by WWW International Diamond
Consultants Ltd. May 9th-13th 2011
1
The Renard Feasibility Study of November 2011 and the January 2013 Optimization Study, consistent with the NI 43-101 compliant Mineral Resource of
January 2011, utilizes a higher diamond price based on an analysis of diamond breakage and poor plant recovery of the Renard 4 valuation sample,
which is $164/carat. All samples utilize a +0.85mm (+1 DTC) cutoff.
Kimberlite
Body
Valuation
Sample
(carats)
Achieved Prices for the Valuation Samples WWW Price Modeling
Number of
Independent
Valuations
Average of
Independent
Valuations
(US$/carat)
WWW
Valuation
(US$/carat)
WWW Base
Case Model
(US$/carat)
WWW "High"
Model
(US$/carat)
WWW
"Minimum"
Model
(US$/carat)
Renard 2 1,580 5 $173 $195 $182 $236 $163
Renard 3 2,753 5 $171 $190 $182 $205 $153
Renard 4 2,674 5 $100 $107 $1121
$185 $105
The November 2011 Feasibility Study employed a diamond valuation exercise conducted under the
auspices of WWW International Diamond Consultants in May 2011, with a diamond price escalation of 2.5%
between Q3 2011 and Q4 2025. No change has been adopted for the January 2013 Optimization Study.

42. 42
Financial Analysis
Renard Diamond Valuation Sensitivities
Kimberlite Body
WWW Base
Case Model
(US$/carat)
WWW "High"
Model
(US$/carat)
WWW
"Minimum"
Model
(US$/carat)
Renard 2
Scenario 1 (Base Case): Utilizing an R2-R3 Size Frequency Model $182 $201 $163
Scenario 2 (Alternative): Utilizing an R2 only Size Frequency Model $208 $236 $186
Renard 3
Scenario 1 (Base Case): Utilizing an R2-R3 Size Frequency Model $182 $205 $168
Scenario 2 (Alternative): Utilizing an R3 only Size Frequency Model $165 $183 $153
Renard 4
Scenario 1 (Base Case): Utilizing an R2-R3 Size Frequency Model $164 $185 $152
Scenario 2 (Alternative): Utilizing an R4 only Size Frequency Model $112 $121 $105
WWW determine “High” and “Minimum” sensitivities on their Base Case diamond price model.
The Feasibility Study and Optimization Study Base Case diamond price of US$182/carat for Renard 2 and 3
and US$164/carat for Renard 4 derives from a value modeling approach that assumes a single diamond size
distribution in the three kimberlites.
An alternative interpretation, that each kimberlite’s diamond population is unique and is correctly represented
by its diamond sample, yields diamond price models of US$208/carat for Renard 2, US$165/carat for Renard
3 and US$112/carat for Renard 4. This “Alternative” diamond price model is highly accretive to the project’s
valuation given the dominance of Renard 2 in the mine plan. The interpretation of similarity in the diamond
populations is the more conservative approach.

43. 43
Financial Analysis
Renard Diamond Valuation Sensitivities1
Use of the “Alternative” diamond price models are highly accretive to the project’s valuation given the
dominance of Renard 2 in the mine plan. The base case assumption of similarity in the diamond size
distributions between the Renard kimberlite pipes is the more conservative approach.
A real-terms diamond price growth factor of 2.5% per annum has been applied between Q3 2011 and Q4
2025, consistent with well constrained rough diamond supply and demand forecasts and industry best-
practice.
Kimberlite Body
Pre-Tax After-Tax
NPV7%
(C$m)
IRR
Pay-Back
(years)
NPV7%
(C$m)
IRR
Pay-Back
(years)
WWW Minimum Model $399 15.5% 5.50 $209 12.3% 5.60
Feasibility Study Base Case Model $683 20.3% 4.69 $391 16.3% 4.82
Alternative Model $888 23.8% 4.16 $521 19.2% 4.24
WWW High Model $1,292 29.3% 3.51 $775 23.9% 3.61
Diamond Price Escalation (2012-2025)
Pre-Tax After-Tax
NPV7%
(C$m)
IRR
Pay-Back
(years)
NPV7%
(C$m)
IRR
Pay-Back
(years)
0% per annum $201 11.8% 6.01 $85 9.3% 6.10
2.5% per annum (Base Case) $683 20.3% 4.69 $391 16.3% 4.82
5% per annum $1,295 28.1% 3.77 $774 22.9% 3.85
Notes:
1. Optimization Study, released January 28th 2013.

44. 4444
Appendix 3: Project Comparables

45. 45
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 $136
Reserve Mine Life 17 19 12 11
Production Parameters
Annual Production (mCarats) Up to 3.6 Up to 7 0.5 Up to 2.0
Annual Revenue (US$m) $302 $385 $215 $360
LOM Op-ex (Cdn$/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

46. 46
Project Comparables
Recent Canadian Diamond Development Projects Compared as of the Date of each FS
Gahcho Kué FS (2010)
Mountain Province
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 $136
Reserve Mine Life 11 20 11
Production Parameters
Annual Production (mCarats) 4.5 1.7 Up to 2.0
Annual Revenue (US$m) $338 $411 $360
LOM Op-ex (Cdn$/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.

47. 4747
Appendix 4: Management Biographies

48. 48
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

49. 49
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

50. 50
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