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Margaret Lake Diamonds Inc. Announces Yari Nieken to Join Board of Directors

Management Changes

MARGARET LAKE DIAMONDS INC. ANNOUNCES YARI NIEKEN

TO JOIN BOARD OF DIRECTORS

VANCOUVER, BC / April 25, 2022 / Margaret Lake Diamonds Inc. ("MLD" or the "Company") (TSXV:DIA) (FKT:M85) (OTC

PINK:DDIAF) is pleased to announce that Mr Yari Nieken has consented to join MLD’s Board of Directors. Mr Nieken will serve

as a non-executive, independent member of MLD’s Board, effective immediately.

Mr Nieken has an extensive range of public company and capital market experience. As a founder of Foremost Capital Inc., an

exempt market dealer, he continues to pro vide in depth consulting for numerous publicly listed issuers in the health care, mineral

extraction, technology and wellness industry. Throughout the years, he has served on the boards and as an officer of several public

and private issuers. His involveme nt in those companies has led to the numerous financings that raised substantial capital in his

career. He was formerly an investment adviser at Union Securities Corp., where he gained a variety of knowledge in the public

market. Mr Nieken holds a BA from the University of British Columbia and an MBA from the Sydne y Graduate School of

Management.

Jim Wiesenberg, has also been appointed to MLD’s advisory board. Mr Wiesenberg has and continues to serve on numerous boards

and worked in various capacities such as; Chief Strategy Officer at Space Data; general manager for Viacom Cable; corporate

development for Microband; Vice President of marketing for the PlayCable Company; manager of market development for

Showtime. Mr Wiesenberg has been engaged in both public and private markets since attaining his BA from New York University

and his MBA from Harvard Business School.

About Margaret Lake Diamonds Inc.

MLD is a Canadian based mineral exploration company engaged in the identification, review and acquisition Uranium assets. MLD

owns 100% interest in the Mormon Lake Uranium Property near Payson, Arizona. As part of its joint venture with Arctic Star

Exploration, MLD holds an 18.5 per cent interest in the Diagras diamond project Northwest Territories property. The property hosts

13 known kimberlites originally discovered by DeBeers in the 1990’s and MLD believes there is an opportunity to apply modern

exploration techniques to define additional kimberlites.

On behalf of the board

Margaret Lake Diamonds Inc. "Neil Foran" President/Chief Executive Officer, Director

Tel: 778.321.4638 email: [email protected]

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking

statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or

intentions regarding the future. Forward-looking statements in this press release relate to, among other things: completion of the

proposed Arrangement. Actual future results may differ materially. There can be no assurance that such st atements will prove to be

accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance

any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the

statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the

respective parties, are inherently subject to significant business, economic, competitive, poli tical and social uncertainties and

contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news

release concerning these times. Except as required by law, the Company does not assume any ob ligation to update the forward-

looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law

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.