DIAMOND DEVELOPMENT NEWS Tahera, Inuit Reach Agreement in Principle

LUPIN, Nunavut The Jericho project is one step closer to reality since TAHERA CORP. and the KITIKMEOT INUIT ASSOCIATION (KIA) have reached an agreement in principle relating to the benefits that will accrue to the Inuit from the development and operation of a diamond mine. The agreement ensures that local employment, training and business opportunities are provided to Kitikmeot Inuit. Tahera will also provide compensation regarding traditional, social and cultural matters, and the effect on Inuit water rights.

Both Tahera and the KIA praised the efforts of each other in creating the agreement. It will be signed officially at a ceremony in Nunavut in early 2004. It is the first Inuit impact benefit agreement to have been negotiated for a diamond project.

Full production from the Jericho diamond mine is anticipated during 2005. Full details are available at www.tahera.com.