Environmental and Social Impact Assessment for the Renard Diamond Project Filed

Following the completion of a positive feasibility study in mid-November and the release of a Certificate of Authorization for the Route 167 Extension highway development project by the Ministère du Développement durable, de l’Environnement et des Parcs of Québec (the “MDDEP”) in early December, Stornoway Diamond Corp. (TSX:SWY) has completed and filed an Environmental and Social Impact Assessment (ESIA) for the Renard Diamond Project in North Central Québec.

As quoted in the press release:

The Renard Diamond Project falls under the environmental protection regimes of the James Bay and Northern Québec Agreement (the “JBNQA”) and the Canadian Environmental Assessment Act. The purpose of the Renard ESIA is to allow the relevant Quebec and federal regulators to properly assess the impact of the project and to seek input from local stakeholders on the proposed development. In this context, the Renard ESIA has been filed with both the MDDEP and the Canadian Environmental Assessment Agency (the “CEAA”). Subject to a schedule to be established by the Review Committee of the JBNQA (“COMEX”) and the CEAA, it is currently expected that public hearings will be held in the first half of 2012 and, upon the satisfaction of all regulatory requirements, the project will be eligible for the receipt of Québec and federal Certificates of Authorization by the middle of 2012. Once the provincial and federal administrators have issued authorizations for project development, final mine permits will be sought from the MDDEP, theMinistère des Ressources Naturelles et de la Faune, and all relevant federal authorities.

Stornoway President and CEO, Matt Manson, said:

“The Renard ESIA is a comprehensive document that incorporates many years of social and environmental baseline study and stakeholder consultations within the communities of Mistissini, Chibougamau and Chapais. In particular, it has benefitted from the participation of individual community members in the Renard Environmental Exchange Group which has met regularly throughout 2011 in the Cree community of Mistissini. The Renard ESIA describes a small-footprint project with modest impacts on local land, water and air quality, all of which are well within existing Quebec and federal standards. At the same time, the project offers substantial economic benefits in the form of long term employment and business opportunities across the James Bay region of Québec.”

Click here to read theStornoway Diamond Corp. (TSX:SWY) press release