VANCOUVER - Margaret Lake Diamonds Inc. ('MLD' or the 'Company') (TSXV: DIA) (FKT: M85) (OTC PINK: DDIAF) is pleased to announce that Arctic Star has received the second round of caustic fusion diamond results from the Sequoia Kimberlite complex.

The results are from the remaining half of the drill core recovered from drill holes DG 2021 04 and DG 2021 05 drilled 202m apart in the central and northern parts of the Sequoia Kimberlite complex. The entire core has now been fused, totalling 505 kg. Usually, half the core is kept for reference, but due to the encouraging results from the diamond assays in the first half of the core and the encouraging indicator mineral results reported in the news release dated 7th September, the decision was made to fuse the entire core.

The samples were taken at the same intervals as the first and they confirm that the different rock types have different diamond counts. The indicator minerals also demonstrate that the two main rock types, the volcanoclastic kimberlite and coherent kimberlite are different. While both have indicators equivalent to those found in the population of large diamonds found around the world, and diamond inclusion chromite, only the coherent kimberlite has significant 'G10' and eclogitic garnets with diamond inclusion chemistry.

Contact:

Neil Foran

Tel: (604) 681-7735

Email: neil@margaretlakediamonds.com

Forward-Looking Statements

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