Margaret Lake Diamonds Inc. Completes the Acquisition of the Mormon Lake Uranium Property

Margaret Lake Diamonds Inc. Completes the Acquisition of the Mormon Lake Uranium Property

VANCOUVER, B.C. , March 1 7, 2022 , Margaret Lake Diamonds Inc. ("MLD" or the "Company")

(TSXV:DIA) (FKT:M85) (OTC PINK:DDIAF). Further to the Compan y’s news release issued on March

14, 2022, whereby the TSX Venture Exchange accepted the purchase option agreement between the

Company and Gol d Express Mines Inc. (“GEM”) dated Jan uary 13, 2022, the Company is pleased to

announce that it has now completed the issuance of 500,000 common shares , which was the final

requirement to complete the property acquisition. The Company now has sole and excl usive rights to the

Mormon Lake uranium property consisting of 20 unpatented mining claims located near Payson, Arizona .

For further details on the property, please see the Company’s news release dated January 17, 2022.

On behalf of the board of Margaret Lake Diamonds Inc.

"Neil Foran"

Neil A. Foran

President & CEO

For further information, please contact:

Joel Warawa

VP of Corporate Communications

(780) 667-6016

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements (collectively

"forward-looking information") within the meaning of applicable securities laws. Forward-looking

information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate",

"potentially", “plan” and similar expressions, or are those, which, by their nature, refer to future events. The

Company cautions investors that any forward-looking information provided by the Company is not a

guarantee of future results or performance, and that actual results may differ materially from those in

forward-looking information as a result of various factors. The reader is referred to the Company's public

filings for a more complete discussion of such risk factors and their potential effects, which may be

accessed through the Company's profile on SEDAR at www.sedar.com