Vancouver, British Columbia, Canada – Friday

MARGARET LAKE DIAMONDS INC.

Vancouver, British Columbia, Canada – Friday, May 11, 2018 – Margaret Lake Diamonds Inc. (TSX Venture Exchange: DIA) (the “Company”) announces that it has granted an aggregate of 600,000 stock options to directors and consultants of the Company, exercisable for a period of 5 years, at a price of $0.14 per share.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

ON BEHALF OF THE BOARD OF DIRECTORS

“Paul Brockington”

Paul Brockington, President and Chief Executive Officer

For further information, please contact:

Margaret Lake Diamonds Inc.

Paul Brockington President and CEO Phone: 604-630-2810 Website: www.margaretdiamonds.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.