Management Update

For Immediate Release January 12, 2016 NEWS RELEASE

MANAGEMENT UPDATE

Margaret Lake Diamonds Inc. (the “Company”) (TSXV: DIA) announces that it has accepted the resignation of Mr. Thomas Hasek as Chief Operating Officer.

We thank Mr. Hasek for his contributions to the Company.

About Margaret Lake Diamonds Inc.

Margaret Lake Diamonds Inc. is a diamond exploration company focused on the Northwest Territories in proximity to Gahcho Kué, the next Canadian diamond mining development by De Beers and Mountain Province Diamonds, and adjacent to the advanced exploration and bulk sampling being pursued by Kennady Diamonds.

For further information, please contact:

Margaret Lake Diamonds Inc.

Paul Brockington President and CEO Phone: 604-630-2810

Website: www.margaretlakediamonds.ca

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.