Otish Conducts High Resolution Airborne Magnetic Survey

Positive Results Lead To Ground Sampling

NEW YORK, June 3, 2004 (PRIMEZONE) -- Otish Mountain Diamond Company, Inc. (OTCBB:OMDC) an American diamond exploration company with rights to 75,000 acres of mining claims for diamond exploration activities located in Northern Quebec, Canada, announces encouraging results in the executed high-resolution airborne magnetic survey on all staked mining claims.

The Company is in its exploration stage and has conducted airborne magnetic surveys over the 75,000 acres of Otish Mountain claims. Approximately 30 geophysical anomalies have been identified and ground samples are expected to be taken during the summer of 2004. The samples will be further tested for micro-diamond content in laboratories associated with the project

Max Pozzoni, President and CEO of Otish Mountain Diamond Company commented, "This is the first and most crucial step in our exploration program. By carrying out these aerial high-resolution magnetic surveys, we are one step closer to realizing the full potential of our properties. These findings are very exciting and we anticipate much more to come with the results from our ground sampling program."

About Otish Mountain Diamond Company

Otish Mountain Diamond Company, founded in August 2003, is an exploration company conducting diamond exploration activities in the Northern part of Quebec. The Company's claims encompass approximately 75,000 acres among 8 different properties in the Otish Mountains region and are located in under-explored areas next to significant diamond discoveries. Geologists believe that there is good potential for the discovery of diamond bearing kimberlites at these sites due to their geological settings and close proximity to the industry leaders valuable diamond discovery sites of Ashton Mining, and the exploration sites of Majescor and Dios (in partnership with DeBeers of South Africa).

Safe Harbor Statement

The statements contained in this news release that are not historical facts may be statements regarding the Company's future that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe the Company's hopes, plans, objectives, goals, intentions or expectations are all forward-looking statements. Any such statements made herein about the Company's future are only made as of the date of this news release. Numerous factors, many of which are beyond the Company's control, may affect actual results. The Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.


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