Stornoway Diamond Corporation (Stornoway) is an exploration-stage company that engages principally in the acquisition, exploration and development of mineral properties. It is principally engaged in diamond exploration and development. As of July 20, 2009, the Company holds interests, directly or through joint ventures, in approximately 20 separate project areas in Alberta, Ontario, Quebec. The Company has a 50% interest in the Eastern Ungava property interest through its wholly owned subsidiary Les Diamants Stornoway (Canada) Inc. The Company’s 50% interest in this agreement covers exploration, property acquisition and the development of mineral interests in north-central Quebec including the Foxtrot Property. Stornoway has a 90% interest in certain mineral claims and leases, known as the Aviat One and Aviat Two properties. Its wholly owned Canadian subsidiaries include Ashton Mining of Canada Inc., Contact Diamond Corporation and Kroc Diamond Drilling Corp.