Margaret Lake Diamonds Announces Grant of Stock Options

MARGARET LAKE DIAMONDS ANNOUNCES

GRANT OF STOCK OPTIONS

Vancouver, BC / February 26, 2019 / Margaret Lake Diamonds Inc. (TSX.V: DIA / FSE:

M85) (“Margaret Lake” or the “Company”) announces the grant of 2,000,000 incentive

stock options under its incentive stock option plan to certain directors. The options are

exercisable at $0.065 for a period of three years from the date of grant.

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 also 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

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.