TAHERA CORPORATION (fka TAH.TO)

[dimonfind]

News from Canada NewsWire


The Nunavut Water Board issues Jericho Diamond Project Water License for Ministerial Approval
09:30 EST Friday, December 24, 2004



TORONTO, Dec. 24 /CNW/ - Tahera Diamond Corporation announces that the Nunavut Water Board has issued the 'Class A' Water License for the Jericho Diamond Project.

The water license has been forwarded to the Minister of Indian and Northern Affairs Canada for approval. Tahera anticipates that the federal Minister will make a decision regarding approval of the water license within a 45-day period.

Tahera is currently finalizing land leases for both the Inuit owned land and crown land associated with the Jericho Diamond Mine, and expects to conclude this process in a timely fashion.

Both the water license and the land leases are required before Tahera can commence construction of the Jericho Diamond Mine. Tahera expects that it will attain all of the required approvals in sufficient time to utilize the 2005 winter road for project mobilization purposes.

About Tahera Diamond Corporation

Tahera Diamond Corporation (www.tahera.com) is a unique Canadian diamond Company focused on developing its wholly-owned Jericho Diamond Project as CANADA'S NEXT and NUNAVUT'S FIRST DIAMOND MINE. Tahera recently entered into an arrangement with Tiffany & Co., one of the world's leading jewelers, with respect to a diamond purchasing, marketing, and finance agreement for the Jericho Diamond Project. Tahera has several other very prospective diamond projects in Canada's prolific Slave Craton. The common shares of the Company trade on the TSX under the symbol 'TAH'.

/For further information: Tahera Diamond Corporation, R. Peter Gillin - Chairman and CEO; Grant Ewing - Executive Vice President, Corporate Development; Investor Relations: Tel: [phone], Fax: [phone], Toll free: [phone], Email: investor_relations(at)tahera.com, Website: www.tahera.com/