DIAMOND MINING – Jericho produces first gems

NUNAVUT - The first diamonds have been produced from the new Jericho mine of TAHERA DIAMOND CORP. Mine construction near Contwoyto Lake was almost complete in less than 12 months at the end of last year, and commissioning is underway. Commercial production is expected by the end of March 2006. The company expects to have revenue from the sale of diamonds prior to the end of the first quarter of 2006. Production results for the first quarter of the year will be available in the first quarter report, scheduled for release in May 2006. It will be posted at www.Tahera.com.

The $99.7-million Jericho open pit has a life of eight years based on current reserves. Approximately 700,000 tonnes of kimberlite and 4.5 million tonnes of waste will be moved annually. The dense media separation plant has a capacity of 2,000 tonnes/day.

Tahera continues to explore nearby ground, particularly the Muskox kimberlite, which is within trucking distance of the Jericho plant. Bulk sampling and 5,000 metres of core drilling are planned.