Otish Geological Reports Recommend Initiation of Diamond Exploration Program

NEW YORK, May 12, 2004 (PRIMEZONE) -- Otish Mountain Diamond Company, Inc. (OTCBB:OMDC), a diamond exploration company conducting exploration activities in the Otish Mountains region of northern Quebec, announced two geological reports covering the Company's rights to 75,000 acres of mining claims for diamond exploration activities. These two reports have been commissioned by independent parties regarding the geological characteristics of the region with specific focus on the OMDC properties.

In 2002, Tamri Geological Ltd., a private consulting practice providing exploration services to the mining community, produced a geological report on the Otish properties. In its report, Tamri determined that the properties are located within a favorable geotectonic domain for diamond exploration. The report was encouraging stating that "the Superior Province of Quebec, which underlies the Otish Mountains area, being one of the largest stable cratons in the world has a thick well preserved root zone in excess of 185 miles deep making it highly prospective for diamond formation and preservation."

In a second technical report on the properties, Roscoe Postle Associates Inc., Geological and Mining Consultants, came to a similarly encouraging conclusion. The Roscoe Postle Associates report concluded that there is good potential for the occurrence of diamond bearing kimberlite intrusives on the properties, given that they have a similar cratonic geologic setting to the Ashton/Soquem Renard 1 and 2 kimberlitic bodies, and the relative proximity of the properties to the Renard 1 and 2 site in terms of typical kimberlite field size. The exploration targets on the properties are diamond-bearing kimberlite pipes and dikes. In the North West territories of Canada, the Lac de Gras kimberlites cluster has more than 100 pipes in a much larger area of about 100 km across. The distances from the properties to the Renard kimberlites, and possibly the Beaver Lake body, are within these typical kimberlite field sizes indicating that there is good potential for diamond-bearing kimberlite occurrences on the claims. Roscoe Postle Associates Inc., have extensive experience in consulting for major and mining and exploration companies, financial institutions, governments, law firms and individual investors

Both reports concluded that the diamond exploration properties of OMDC are located in an under-explored craton with untapped potential. Given that the properties are in close proximity to the diamond discoveries of Ashton Mining of Canada, there is good probability for the discovery of diamond bearing kimberlites on the properties. Both reports recommend the initiation of a diamond exploration program.

About Otish Mountain Diamond Company

Otish Mountain Diamond Company, founded in August 2003, is an exploration company conducting diamond exploration activities in the Northern part of Quebec. The Company's claims encompass a total of 75,000 acres among 8 different properties in the Otish Mountains region and are located in under-explored areas next to significant diamond discoveries. Geologists believe that there is good potential for the discovery of diamond bearing kimberlites at these sites due to their geological settings and close proximity to valuable explorations sites of industry leaders Ashton Mining, Majescor and Dios (in partnership with DeBeers of South Africa).

Safe Harbor Statement

The statements contained in this news release that are not historical facts may be statements regarding the Company's future that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe the Company's hopes, plans, objectives, goals, intentions or expectations are all forward-looking statements. Any such statements made herein about the Company's future are only made as of the date of this news release. Numerous factors, many of which are beyond the Company's control, may affect actual results. The Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.


Contact Data