BUILDING QUÉBEC’S FIRST DIAMOND MINEAnnouncing C$944 Million Financing Package to Fully-Fund the Renard Diamond Project to Production April 9th, 2014

Matt MansonPresident, CEO & Director

Orin BaranowskyDirector of Investor Relations

A preliminary prospectus containing important information relating to the securities described in this document has been filed with the securities regulatory authorities in each of the provinces of Canada. A copy of the preliminary prospectus, and any amendment, is required to be delivered with this document. The preliminary prospectus is still subject to completion. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued. This document does not provide full disclosure of all material facts relating to the securities offered. Investors should read the preliminary prospectus, the final prospectus and any amendment for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.

2

Forward-Looking Information and Other Disclaimers

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. These forward looking statements and information, 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 recovered grade, average ore recovery, internal dilution, mining dilution and other mining parameters set out in the 2011 Feasibility Study or the 2013 Optimization Study; (v) assumptions relating to gross revenues, operating cash flow and other revenue metrics set out in the 2011 Feasibility Study or the 2013 Optimization Study; (vi) mine expansion potential and expected mine life; (vii) expected time frames for completion of permitting and regulatory approvals and making a production decision; (viii) future exploration plans; (ix) future market prices for rough diamonds; (x) the economic benefits of using liquefied natural gas rather than diesel for power generation; and (xi) 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”, “schedule” 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 and 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 Stornoway’s ability to achieve its goals. Certain important assumptions by Stornoway or its consultants in making forward-looking statements include, but are not limited to: (i) required capital investment and estimated workforce requirements; (ii) estimates of net present value and internal rates of return; (iii) receipt of regulatory approvals relating to the financing transactions on acceptable terms within commonly experienced time frames; (iv) the assumption that a production decision will be made, and that decision will be positive; (v) anticipated timelines for the commencement of mine production; (vi) market prices for rough diamonds and the potential impact on the Renard Diamond Project’s value; (vii) the Corporation’s ability to raise the required capital to construct a mine at the Renard Diamond Project; and (viii) future exploration plans and objectives.

3

Forward-Looking Information and Other Disclaimers (contd)

We caution readers not to place undue reliance on these forward-looking statements as a number of important risk factors could cause the actual outcomes, results, performances or achievements to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements, including, but not limited to: (i) increases in the costs of proposed capital and operating expenditures; (ii) increases in financing costs or adverse changes to the terms of available financing, (iii) tax rates or royalties being greater than assumed; (iv) results of exploration in areas of potential expansion of resources; (v) changes in development or mining plans due to changes in other factors or exploration results of Stornoway; (vi) changes in project parameters as plans continue to be refined and the potential impact on the Renard Project’s value; xiii) the ability of the Corporation to conclude definitive agreements with the financing parties and close the recently announced financing transactions. Additional risk factors are discussed in the section “Description of the Business — Risk Factors” of the Corporation’s most recently filed Annual Information Form and in the section “Risks and Uncertainties” of the Corporation’s most recently filed Interim Management’s Discussion and Analysis available under the Corporation’s profile at: www.sedar.com. 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.

Readers are referred to the technical report dated as of February 28th, 2013 entitled “The Renard Diamond Project, Quebec, Canada, Feasibility Study Update, NI 43-101 Technical Report, February 28, 2013” in respect of the January 2013 Optimization Study, and the press release dated July 23, 2013 in respect of the July 2013 Mineral Resource estimate for further details and assumptions relating to the project. The Qualified Persons that prepared the technical reports and press releases that form the basis for the presentation are listed in the Company’s AIF dated July 25, 2013. Disclosure of a scientific or technical nature in this presentation has been reviewed and approved by Robin Hopkins, P.Geol. (NT/NU), Vice President, Exploration, a “qualified person” under NI 43-101.

The Financing Transactions described in this presentation are intended to provide a comprehensive financing package for the construction of the Renard Diamond Project and, as such, the completion, effectiveness or availability, as the case may require, of each of the Financing Transactions is conditioned on the completion (excluding the equipment facility), effectiveness or availability, as the case may require, of each of the other Financing Transactions.

An investment in Subscription Receipts involves a high degree of risk and must be considered speculative due to the nature of Stornoway’s business and the present stage of exploration and development of its mineral properties. Prospective investors should carefully consider the risk factors described in and incorporated by reference into the preliminary prospectus, including the “Forward-Looking Statements” and “Risk Factors” sections thereof.

Prospective investors should be aware that the purchase of Subscription Receipts may have tax consequences. The preliminary prospectus may not describe these tax consequences fully. Prospective investors should read the tax discussion in the preliminary prospectus, including the “Canadian Federal Income Tax Considerations” section thereof, and should consult with a tax advisor.

The potential quantity and grade of any Target for Further Exploration (“TFFE”) was defined on the basis of geological modelling, outcrop mapping, limited delineation drilling, surface sampling and projecting kimberlite volumes from the base of the Inferred Mineral Resource to a depth of approximately 775m below surface, representing the base of current drilling as established at the Renard 4 deposit.

4

Summary of the Transaction

The Renard Diamond Project is Permitted and Ready to Build

Stornoway is Now Pleased to Announce a C$944 Million Financing Agreement to Fully Fund the Project to Production

Highlights of the Transaction:

One-shot financing of all project costs, contingencies, working capital requirements and financing costs.

Largest single project financing transaction for a publically listed diamond company.

Careful balance of stream, debt and equity to maximize shareholder value growth from project development.

Sponsors:• Orion Mine Finance• Investissement Québec/Ressources Québec• Caisse de dépôt et placement du Québec

5

Transaction Structure

TypeAmount

(% of Total)Description

Common Equity C$427M (45%)• C$184M marketed public equity offering of subscription receipts• C$243M private placement to Orion (US$110M), RQ (C$100M) and Caisse (C$22M)

Diamond StreamUS$250M

(29%)• 20% diamond stream (Orion 16%, Caisse 4%) with ~US$56/ct(1) ongoing payment

Convertible Debentures US$50M (6%) • Provided by Orion; 7 year, 6.25% coupon, 35% conversion premium to equity issue price

Senior Debt C$100M (11%) • Provided by IQ; 7 year amortizing payment, Fixed (QC Bond)+5.75% or Prime +4.75%

Equipment Financing US$35M (4%) • Provided by Caterpillar

Cost Overrun Facility C$48M (5%)• C$20M provided by IQ (same terms as senior debt)• C$28M provided by Caisse (unsecured, 7 year term, 10% coupon)

Total C$944M (100%)

Assumes US$1.00 = C$1.101. Includes reimbursement of marketing expenses

Counter-PartyAmount

(% of Total)

Orion Mine Finance C$396M (42%)

Investissement Québec/ Ressources Québec C$220M (23%)

Caisse de dépôt et placement du Québec

C$105M (11%)

Caterpillar Financial C$39M (4%)

Public C$184M (20%)

Total C$944M (100%)

C$87M

C$811M

C$944M

C$70M

C$69M

Financing Funding Requirements

New Financing

Existing Financing

C$48M COF & C$33M Working Capital

Financing Costs & Interest During Construction

Renard Mine Road

Initial Capex & Escalation Allowance

6World’s First Diamond Streaming AgreementWhy a Stream?

Project Cash Operating Margin (Reserve Case, Nominal Terms)

The Renard Diamond Project is ideally suited for a streaming arrangement: the project has a high operating margin and its capital requirements are front-ended.

The proposed stream-debt-equity financing structure minimizes shareholder dilution and is accretive to Stornoway’s NAV per share.

US$250m for a 20% stream represents 34% of the Renard Diamond Project’s initial capital cost and 29% of the overall financing plan.

67.2%

2013 Optimization Study

`

20% Stream

-6.6% +2.6%+3.8% -2.1%

Current Reserve Case Mine Plan

October 2013 LNG Operating Case

Exchange Rate Diamond Price Assumptions1

64.9%

Notes: 1. The January 2013 Optimized FS utilized May 2011 diamond pricing

7

Recent Comparative Project Financing Transactions1

Redactedfr

In accordance with Subsection 13.7(4)(b) of Regulation 41-101 respecting General Prospectus Requirements, certain comparables and related disclosure were removed om this template version of the presentation.

8

Transaction Schedule

Date Description

April 9 • Launch of marketed Public Equity Offering via Subscription Receipts

April 10 – May 1 • Marketing for the Public Equity Offering

End of April/Early May • Pricing and close of Public Equity Offering and release of funds to an escrow account

End of April/Early May • Management information circular mailed to Stornoway shareholders

End of May • Special meeting of Stornoway shareholders

June 1 • Release of proceeds and issuance of common shares to holders of Subscription Receipts• Execution of definitive documentations for all Financing Transactions

9

Current Major Shareholdings

Share Price (TSX-SWY):April 8, 2014

C$ $0.99

52 week High-Low C$ $0.49–$1.22

Average Daily Volume:6 month average

164,800

Market Capitalization:(based on voting and non-voting shares)

C$ 174 million

Total Shares Outstanding: (Basic and Non-voting convertible shares)

175 million

Total Options & Warrants Outstanding:(7.7m Options $0.40-$2.39; 18.1m warrants $0.95-$1.21)

26 million

Consolidated Cash: (as of January 31, 2014)

C$ 21 million

Consolidated Debt: ($100m Standby Facility with IQ undrawn)

C$ 66 million

Reserve Case Project NPV1: (January 2013 Optimized Feasibility Study)

US$ 391 million

Reserve Case P/NPV:(January 2013 Optimized Feasibility Study)

0.51x

Balance Sheet

Pre-Transaction Capital Structure

Notes1. 7% NPV as of Jan 1st 2013

2 Year Share Performance

IQ(common shares, plus non-voting convertible shares)

23.1% 33.0%

Agnico-Eagle 9.7% 8.4%

Float 67.2% 58.6%

DilutedBasic

10

Merits of the Transaction

Stornoway’s Proposed C$944 Million Project Financing Agreement for Renard Provides Both New and Existing Shareholders the Following

Opportunities:

Fully funds Renard to production: clear view for shareholders through to project completion.

Addresses Stornoway financing needs and unlocks project value.

Allows company valuation re-rating from explorer/developer to producer.

Includes a cost over-run facility (COF) and covers all expected financing costs and working capital requirements.

Minimizes potential shareholder dilution compared to all-equity or debt+equity+equity COF structures, yielding higher potential NAV per share.

Fair for shareholders: shareholders get to vote, private and public equity to be priced equally.

1111

Québec’s First Diamond Mine

12

Lynx

R10

N

R7

R1Hibou

R4

R9R2

R3

R65

R8

Kimberlite Bodies with Probable Mineral Reserves

Hibou

Lynx

R4

R9R2

R3

R65

Kimberlite Bodies with Mineral 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

LG3LG2LG4

Laforge 1

Laforge 2

Brisay

Foxtrot Property

Strateco

Eastmain MineWestern Troy

Troilus Mine

Eleonore

Temiscamie

Mistissini

ChibougamauMatagami

Wemindji

Renard Kimberlite Bodies

Kimberlite Bodies with Inferred Mineral Resources

13

The Feasibility: 11 years of mining on 18mcarat Mineral Reserve (24mtonnes)

Permitting and Long Term Plan

The Vision: Deposit still Open

40

60

80

100

120

140

Millions of Tonnes

20

0

TFFE High Range

Inferred Mineral Resource

TFFE Low Range

Indicated Mineral Resource

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 TFFE is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Renard’s Mineral Resource PotentialBased on 2013 Mineral Resource Estimate

0m

100m

200m

400m

600m

700m

500m

300m

Renard 6529/24cpht Renard 3

103/112cpht

Renard 2104/119cpht

Renard 953cpht

Renard 460/50cpht

27 mcarat Indicated Mineral Resource

17 mcarat Inferred Mineral Resource

26-48 mcarat TFFE

Source: Stornoway, 2014

Mineral Reserve Based Mine Plan2013 Optimization Study

0m

100m

200m

400m

600m

700m

500m

300m

Notes

1. 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.

2. Expressed in May 2011 terms.3. Expressed in October 2012 terms, as adjusted in 2013 LNG Study capex would be

$754m and operating costs would be $54/t or $71/ct.4. Actual.5. Excludes capitalized preproduction costs.6. Expressed in de-escalated nominal terms.

Reserve Based Mine Plan1

(2013 Optimization Study using Parity Dollar and May 2011 Diamond Pricing)

Mining Parameters

Mine Life 11 years

Mineral Reserve 17.9 mcarats

Avg. Diamond Price2 $180/carat

Production Rate 2.2 mtonnes/yr

Ave. Diamond Production 1.6 mcarats/yr

Gross Revenue (C$M) $4,268

Initial Capital Costs

Initial Cap-ex3 $752m

Escalation Allowance $45m

Renard Mine Road4 $70m

Operating Parameters

Operating Cost3,5 $58/t ($76/carat)

Operating Margin 67%

Operating Cash Flow $2.7B

Valuation Parameters6

After Tax NPV (7%; Jan 1 2013) $391m

After Tax IRR 16.3%

Payback 4.8 years

Renard 65Renard 2 Renard 3

Renard 4

14

Source: Stornoway, 2014

15Mineral Resource Based Mine PlanLong Term Plan: Foundation of Permitting and ESIA

0m

100m

200m

400m

600m

700m

500m

300m

Renard 65Renard 2 Renard 3

Renard 4

Renard 9

27 mcarat Indicated Mineral Resource

17 mcarat Inferred Mineral Resource

26-48 mcarat TFFE

Mineral Resource Based Mine Plan(Basis of December 2012 ESIA and Mine Permitting)

An Extended Mine-Life Operating Plan

Includes 2.3mcarat of Indicated Resources within the Renard 65 open pit, up to 17 mcarats of Inferred Mineral Resources within Renard 2, 3, 4 & 9, and an increase in annual ore processing to 2.5mtonnes/yr.

Represents the mine plan contained within the December 2012 ESIA and Renard’s operating authorizations but does not form part of the 2013 Optimization Study consistent with NI 43-101.

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 Target for Further Exploration (“TFFE”) is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

The Renard 2013 Optimization Study Does Not Include:

1. The potential for extending mine life from additional Mineral Resources and exploration targets at depth.

2. The potential positive impact on price from large diamonds.

3. Volume upside from additional plant processing capacity.

Source: Stornoway, 2014

16

What has Changed Since the 2013 Optimization Study?

0m

100m

200m

400m

600m

700m

500m

300m

Renard 65Renard 2 Renard 3

Renard 4

Renard 9

27 mcarat Indicated Mineral Resource

17 mcarat Inferred Mineral Resource

26-48 mcarat TFFE

14% Increase in Indicated Mineral Resources

July 2013: Additional 2.3Mcarats at Renard 65 (7.9 Mtonnes at 29cpht), open pittable to 150m depth.

7% Reduction in Op-ex with LNG Option

October 2013: Annual op-ex reduction of up to $10m using LNG for power generation, with incremental cap-ex increase of just $2.6m.

10% Improvement in C$:US$ Exchange

90% of Project Capex is C$ denominated. The 2013 Optimization Study assumed a parity dollar. Current C$1.10:US$ rate boosts margins and increases NPV.

Sustained Recovery in Diamond Prices

March 2014: Revised estimates of US$197/ct for R2; US$187/ct for R65, a market increase of 4% since March 2013 and within 2% of May 2011 dated assumptions in the 2011 Feasibility Study and 2013 Optimization Study.

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 Target for Further Exploration (“TFFE”) is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Source: Stornoway, 2014

17Stornoway will be a Significant Diamond ProducerCurrent and Future Diamond Producers

Source: Kimberly process and Company Reports

Redactedfr

In accordance with Subsection 13.7(4)(b) of Regulation 41-101 respecting General Prospectus Requirements, certain comparables and related disclosure were removed om this template version of the presentation.

1818

Project Execution

19

Waste Rock

Processed Kimberlite Containment (PKC)

Overburden Stockpile

R2-R3

Ore Stockpile

R65

Camp

Plant

Road from Chibougamau

General Project Arrangement

20

Project Execution

Accommodation Complex

Process and Power Plants

Access Infrastructure Pre-Financed and Already Constructed

Renard Mine Road open to traffic since August 30th 2013. Aerodrome open since November 5th 2013.

Favourable Cost and Labour Environment

Limited amount of recent mine construction activity in Québec means competitive cost environment and good contractor/labour availability.

Owner’s Team and EPCM Contract in Place

Montreal based owner’s team in place for planning, engineering, environment, stakeholder relations and cost management. Stornoway will also enter into an EPCM agreement with SNC-Lavalin & AMEC.

LNG Power Option Completed for Reduced Operating Cost Risk

LNG power option utilizes all-season access road and existing commercial LNG distribution network in Québec.

21Permitting and Social AcceptabilityStrong 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.

Oct. 2012: Québec Mining license issued.

Dec. 2012: Québec Certificate of Authorization issued.

July 2013: Positive Federal Environmental Assessment decision issued.

All Community Agreements and Regulatory Authorizations Required to Proceed to

Construction are in Place.

22The Route 167 Extension and the Renard Mine Road The Only Canadian Diamond Mine with an All-Season Access Road

50 km

Renard Diamond Project

Explor./Mining Projects

Stornoway Properties

Albanel-Témiscamie-Otish Par

Segment A: 0-82kmSegment B: 82-143kmSegment C: 143-195kmSegment D: 195-240km

Legend

Renard

WesternTroy

EastmainAbitex

Strateco

Mistissini

Lac Mistassini

Lac Naococane

Lac Hecla

Lac Albanel

Km 0

Km82

Km240

Km195

Km143

Rou

te 1

67

Construction of an all-season access road connecting Renard to the Québec highway system began in Feb. 2012.

Road segments A & B (143 km) constructed by Québec as a 2-lane highway. Segments C & D (97 km) constructed by Stornoway as the single lane “Renard Mine Road”.

All 4 segments were connected and opened for mine construction traffic on August 30th 2013, 2 months ahead of schedule and approximately 10% below budget.

To complete this work, Québec provided Stornoway $77m of debt financing, repayable upon commercial production at Renard.

Stornoway has been able to apply $7m of debt savings to complete the civil works for the Renard Mine Airport.

Segments C & DStornoway

97km of Mine Road (50km/hr)

Segments A & BMin. of Transport

143km of Regional Highway (70km/hr)

Road Link-UpAugust 30th 2013

Transportation of Pre-Fabricated Temporary Bridge

Spans March 2013

23

Views of the Road

Renard Project

Explor./Mining ProjectsStornoway Properties

Albanel-Témiscamie-Otish Par

Segment A: 0-82kmSegment B: 82-143kmSegment C: 143-195kmSegment D: 195-240km

Legend

Renard

WesternTroy

EastmainAbitex

Strateco

Mistissini

Lac Mistassini

Lac Naococane

Lac Hecla

Lac Albanel

Km 0

Km82

Km240

Km195

Km143

Rou

te 1

67

KM 210 KM 237

KM 155

24

Eastmain River Bridge

Renard Project

Explor./Mining ProjectsStornoway Properties

Albanel-Témiscamie-Otish Par

Segment A: 0-82kmSegment B: 82-143kmSegment C: 143-195kmSegment D: 195-240km

Legend

Renard

WesternTroy

EastmainAbitex

Strateco

Mistissini

Lac Mistassini

Lac Naococane

Lac Hecla

Lac Albanel

Km 0

Km82

Km240

Km195

Km143

Rou

te 1

67

KM 184

KM 184

25

Renard Mine Airport

The Renard Mine Airport is located 8 km south of the project site.

Certification will be sought from Transport Canada to receive Dash 8-300 turboprop and Hercules aircraft.

Design criteria (3C-NP):• Gravel surface• 30m wide by 1,494m long• Taxiway and 100mx100m apron• Equipped with assisted landing capability

Civil works completed: First landing Nov 2013.

Renard Diamond Project Site

Oct 2013

Nov 2013

Sept 2013

26Liquefied Natural Gas Power Plant Feasibility Study Released October 2013

With a view to project optimization, Stornoway has been investigating more cost efficient alternatives for on-site power supply than traditional diesel fuelled gen-sets.

A Hydro-Québec powerline has been ruled out in the short term due to high cap-ex cost.

On October 21st 2013 Stornoway announced it will proceed with an LNG fuelled gen-set option, made possible by the ability to receive regular cryogenic LNG shipments on the Renard Mine Road.

The Renard LNG plant will comprise seven 2.1MW rated gas gen-sets, providing sufficient power generation capacity for the project’s normal operating specification of 9.5MW.

27Liquefied Natural Gas Power PlantFeasibility Study Released October 2013

An LNG fuelled powerplant for Renard offers many advantages over diesel:• Greatly reduced annual operating costs of $8m to $10m per year, for a small incremental capital cost

of $2.6m.• Up to 43% less greenhouse gas emissions.• Long term, stable supply market utilizing existing commercial distribution network within Québec.• Elimination of on-site propane, as LNG will be used for building and underground mine heating.

Diesel will continue to be used for the mobile mining fleet and construction activities

Cost Improvements with LNG 2013 Optimization Study with Diesel

2013 Optimization Study with LNG

Unit Power Cost (C$/kWh) 1 $0.299 $0.188 (-37%)

Unit Operating Cost (C$/tonne) 1,2 $57.63 $53.84 (-7%)

Initial Capital Cost (C$m) 1 $752.1 $754.0 (+0.3%)

Life of Mine Capital Cost (C$m) 1,3 $1,013 $1,010 (-0.3%)

Annual Diesel Consumption (million litres) 27.5 5.9 (-79%)

Annual LNG Consumption (thousand m3/annum) n/a 41.7

Annual Propane Consumption (thousand m3/annum) 3.5 n/a

Notes

1. 2013 Optimization Study costs expressed in October 2012 terms.

2. Excludes capitalized preproduction costs.

3. Includes all initial, sustaining and deferred capital, contingencies and escalation

Key Assumptions

Based on the 11 year reserve-based mine life (17.9 mcarats) contained within the 2013 Optimization Study, with a normal operating load of 9.49MW, C$1=US$1, Oil US$95/barrel

28Site ProgressOctober 2013

R65 Borrow Pit

Tree Clearing

Bulk Sample DMS Plant

Construction Camp

Renard Mine Road

R65

R2R9

R4

29Project ScheduleRevised March 2014 on Basis of Renard Diamond Project Financing Schedule

Feasibility Study (Complete)

ESIA (Complete)

Public Hearings (Complete)

Reg. Authorizations (Complete)

Specific Operating Permits (50)

Detailed Engineering

Project Financing

Road Construction

Site Construction

Commissioning and Ramp-up

Commercial Production

2012

2H 2H 2H 2H2H 1H 1H 1H1H

2013 2014 2015 2016

2H1H

2017

First Vehicle Access

Based on the Renard Diamond Project Financing Schedule, Plant Commissioning is Planned for Q3 2016 and Commercial Production in Q2 2017.

3030

Project Potential

31

490 m asl

-275 m asl

0 m

790 m

Indicated Mineral Resource

Legend

Inferred Mineral Resource

Low Range TFFE

High Range TFFE

Ongoing Mineral Resource Expansion$10m Deep Resource Conversion Drill Program to Begin in April 2014

Renard 2 Renard 3 Renard 4 Renard 65 Renard 9

1. Conversion of Renard 65 Inferred Mineral Resources to Indicated to 150m depth (July 2013: Completed)

2. Addition of Renard 2 Country Rock Breccia to both Indicated and Inferred Mineral Resources (July 2013: Completed)

3. Targeting conversion of high grade Renard 2 Inferred Mineral Resources to Indicated (6.2 Mcarats in 5.23 Mtonnes) and targeting an additional 4.2 to 7.3 Mcarats of exploration upside between 700m and 770m depth. Open below 770m. (2014 Drill Program)

12

3

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 TFFE is conceptual in nature, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

32Renard’s High Value DiamondsLarge Diamond Potential Not Included in Base Case Diamond Valuation Models

The Renard kimberlite pipes have similar, but marginally different diamond populations exhibiting coarse size distributions and with high proportions of large white gems.

99% by weight gem/near-gem quality. 1% industrial quality boart.

Value Upside in Large Gems: 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.

The 2013 Optimization Study assumed an average diamond valuation of US$180/ct (calculated on an un-escalated basis) based on May 2011 prices. The current estimate of average diamond value, as of March 2014, is US$190/carat (un-escalated).

March 2014 Diamond Valuations (WWW International Diamond Consultants Ltd.)

Kimberlite Body

Size ofValuation Sample(carats)

WWW March 2014 Sample

Price(US$/carat)1

WWW March 2014 Base Case

Price Model(US$/carat)1

Sensitivities(Minimum to High)

Renard 2  1,580 $187 $197 $178 to $222

Renard 3 2,753 $179 $157 $146 to $192

Renard 4 2,674 $101 $106 ($155)2 $100 to $174

Renard 65 997 $262 $187 $175 to $211

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 $155 per carat based on March 2014 pricing. Source: WWW March 2014 Valuation Update

Renard 3 Bulk Sample Stones larger than 2 carats. “Run of

Mine”

33

01/01/10 01/01/11 01/01/12 31/12/12 01/01/14100

150

200

250

300

350

WWW Rough Index, CPI Adjusted Renard Model Price Growth

WWW R.I.

Ind

ex t

o 2

009=

100

May 2011 Mar 2013

+20%

CPI Adj Growth

-10%

+10%

-20%

Mar 2014

Rough Diamond Price MovementsThe Diamond Market, January 2010 to March 2014

A tracking of the diamond market since the publication of the 2011 Feasibility Study and 2013 Optimization Study indicates rough diamond prices have generally remained within the bounds of sensitivities contained within the financial model (May 2011 spot prices and a 2.5% real terms annual price escalator).

May 2011 Valuation utilized in the 2011

Feasibility and 2013 Optimization Study

based on the average of 5 diamantaires

c.10% below the WWW rough index price

34

Rough Diamond Supply

Diamond Market OutlookCompelling Supply and Demand Fundamentals

Rough Diamond Demand

Rough diamond supply forecasting is robust given the small number of diamond producers worldwide and the difficulty in finding and bringing to production new deposits. Consensus is for a modest increase in supply to 2018 and a decline in supply thereafter.

Demand growth forecasting is based upon applying regional diamond consumption habits to GDP growth forecasts.

The August 2013 report issued by Bain & Co and the Antwerp World Diamonds Center forecasts a rough diamond supply CAGR of 2.0% and a rough diamond demand CAGR of 5.1%.

The January 2013 Optimization Study contains a real diamond price CAGR of 2.5%, consistent with consensus forecasts.

The actual rough diamond price CAGR has been 8.9% between October 2003 and March 2014 in nominal terms.

Sources: WWW International Diamond Consultants Ltd.; The Global Diamond Report, August 2013: Bain & Co/Antwerp World Diamond Centre

CAGR (2012-2023)

5.1%

CAGR (2012-2023)

2.0%

3535

Summary

36

Stornoway Diamond Corporation TSX:SWY

Mining Lease and Certificates of Authorization Issued

Access infrastructure already completed: the only Canadian Diamond Mine with an all-season road.

Strong Public Support in Québec; IBA in Place

Excellent Diamond Supply & Demand Fundamentals

Favourable Project Execution and Operating Environment

Additional Potential from Mineral Resource, Diamond Pricing and Plant Capacity Not Incorporated in Reserve-Case Feasibility

100% ownership in the Renard Diamond Project, One of the World’s Few New

Diamond Projects Under Development

Permitted and Shovel-Ready

Now, Announcing the World’s Largest Single Project Financing Transaction for a

Publicly Listed Diamond Company to Fully-Fund the Project to Production.

3737

Appendix: Investor Resources

38

Hume KyleIndependent

Zara BoldtCFO and VP

Finance

Pat GodinCOO & Director

Matt Manson President, CEO

& Director

Michel BlouinIndependent/ IQ Designate

Yves Harvey Independent

John LeBoutillierIndependent/ IQ Designate

Monique MercierIndependent/ IQ Designate

Peter NixonIndependent

Ebe ScherkusIndependent/

Board Chairman

Executive Officers

Non-Executive Directors

Key Managers

Head Office: Longueuil, Québec

Exploration Office: North Vancouver, BC

Community Offices: Mistissini & Chibougamau

Québec

Stornoway’s Board and Management Team

Serge VézinaIndependent

Yves PerronVP Engineering & Construction

Ghislain Poirier

VP Public Affairs

Brian Glover VP Asset Protection

Martin BoucherVP Sustainable Development

Robin Hopkins

VP Exploration

Orin Baranowsky

Director, IR

Ian HollVP Processing

39

Pat GodinCOO & Director

Biographies

Ebe ScherkusChairman of the

Board

Matt Manson was appointed President of Stornoway Diamond Corporation in March 2007 and subsequently

President & CEO in January 2009. Between 1999 and 2005 he was employed by Aber Diamond Corporation

(now Dominion 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. 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 18 years of experience in diamond exploration, development and production.

Pat Godin joined Stornoway as COO in May 2010. He was previously VP, Project Development for GMining

Services, responsible for the development of the Essakane Mine in Burkina Faso under contract to IAMGOLD,

VP Operations for Canadian Royalties, and President and General Manager of CBJ-CAIMAN S.A.S., a French

subsidiary of Cambior / IAMGOLD. 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 and

is a member of the “Ordre des Ingénieurs du Québec”. He is the Chairman of the Board of Geomega

Resources and a director of Orbit-Garant Drilling.

Mr. Scherkus served as the President and Chief Operating Officer and a director of Agnico-Eagle from 2005 to

February 2012. Prior to his appointment as President and Chief Operating Officer in December 2005, Mr.

Scherkus served as Executive Vice-President and Chief Operating Officer from 1998 to 2005, as Vice-

President, Operations from 1996 to 1998, as a manager of Agnico Eagle LaRonde Division from 1986 to 1996

and as a project manager from 1985 to 1986. Mr. Scherkus is a graduate of McGill University (B.Sc.), a

member of the Association of Professional Engineers of Ontario and past president of the Québec Mining

Association. He is Chairman of the Board of Premier Gold Mines Ltd.

Matt Manson President, CEO

& Director

40

Stornoway Diamond Corporation TSX:SWY

Head Office:

1111 Rue St. Charles Ouest,

Longueuil, Québec J4K 5G4

Tel: +1 (450) 616-5555

Contacts:

Matt Manson PhD, President and CEO

mmanson@stornowaydiamonds.com

Tel: +1 (416) 304-1026 x101

Orin Baranowsky CFA, Director IR

obaranowsky@stornowaydiamonds.com

Tel: +1 (416) 304-1026 x103

www.stornowaydiamonds.com