Margaret Lake Diamonds and Cache Exploration Receive Shareholder Approval for Kiyuk Lake Gold Property Transaction

Margaret Lake Diamonds and Cache Exploration Receive Shareholder Approval for Kiyuk Lake Gold Property

Transaction

VANCOUVER, BC / ACCESSWIRE / June 25, 2019 / Margaret Lake Diamonds Inc. (TSX.V: DIA / FSE: M85)

("Margaret Lake" or the "Company") is pleased to report that Cache Exploration Inc. ("Cache") (TSX.V: CAY)

shareholders have approved the proposed acquisition (the "Transaction") in which the Company will acquire up to an

80% interest in the Kiyuk Lake Gold Property ("Kiyuk Lake" or the "Property") located in southern Nunavut. The

Companies will be filing a NI 43-101 technical report to support the technical disclosure of the Transaction shortly.

About the Kiyuk Lake Gold Property

The Kiyuk Lake land package consists of 70 contiguous mineral claims encompassing over 59,000 hectares and

offers year-round accessibility to a 35-person base camp. Significant past exploration, beginning with Newmont

Mining in 2008 and most recently Cache Exploration in 2017, has resulted in over 13,000 meters of core drilling and

delineation of four mineralized zones and five additional high priority target areas that have yet to be drill tested.

Mineralization has been traced across a 13-kilometer strike length and remain open in all directions. The main focus

of exploration to date has been on the high-grade Rusty zone. In 2017, drilling within the Rusty zone returned broad

intercepts of gold mineralization including:

• 8m of 26.48 g/t gold from 108m, including 2m of 92.76 g/t gold from 110m, in DDH KI17-001

• 38m of 1.16 g/t gold from 58m, including 8m of 3.98 g/t gold from 68m, in DDH KI17-002

• 122m of 1.82 g/t gold from 188m, including 15m of 3.34 g/t gold from 294m, in DDH KI17-004

• 249m of 1.6 g/t gold from 8.2m in DDH KI13-004 (no cut-off)

* Drill intercepts are not true width. True widths are not known at this time. See Cache Exploration Inc. press releases

dated October 12, 2017 and October 26, 2017 and Prosperity Goldfields press release dated April 9, 2013. While the

Company believes the historical work was performed according to best practices and the exploration data is reliable,

a Qualified Person has not verified the results independently.

Figure 1. Kiyuk Lake Project Map

Qualified Person

The technical data in this news release has been reviewed and approved by Buddy Doyle, P.Geo., a Qualified

Person under the provisions of National Instrument 43-101.

About Margaret Lake Diamonds Inc.

Margaret Lake Diamonds Inc. (TSX.V: DIA) is a Canadian junior mining company focused on mineral exploration in

Canada's most prolific mining districts. The Company is earning an 80% interest in the high-grade Kiyuk Lake Gold

Property located in southern Nunavut and also holds interests in two diamond exploration properties in the Northwest

Territories- the Margaret Lake project located adjacent to Mountain Province Diamond's Kennady North project and

close proximity to Gahcho Kué, the newest Canadian diamond mine owned by De Beers and Mountain Province

Diamonds. The Company has a 60/40 joint venture with Arctic Star Exploration Corp. (TSX.V: ADD) to explore the

Diagras property, which is comprised of 23 claims totaling 18,699 hectares located in the prolific Lac de Gras

diamond field.

ON BEHALF OF THE BOARD OF DIRECTORS

"Jared Lazerson"

President and Chief Executive Officer

Phone: 1.604.630.2810

Web: www.margaretdiamonds.com

Forward-Looking Statements

This news release contains forward-looking information that involves various risks and uncertainties regarding future

events. Such forward-looking information can include without limitation statements based on current expectations

involving a number of risks and uncertainties and are not guarantees of future performance of the Company. Actual

results and future events could differ materially from anticipated in such information. These and all subsequent written

and oral forward-looking information are based on estimates and opinions of management on the dates they are

made and expressed qualified in their entirety by this notice.

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.

SOURCE: Margaret Lake Diamonds Inc.