Otish to Execute a Summer Till Sampling Survey

Airborne Geophysical Survey Defines Targets

NEW YORK, June 23, 2004 (PRIMEZONE) -- Otish Mountain Diamond Company, Inc. (OTCBB:OMDC) is pleased to announce today that IOS Services Geoscientifiques will be performing a helicopter supported till sampling survey during the remainder of June and through July on five of Otish's diamond properties in Northern Quebec. Between 100 and 130 samples will be collected.

The purpose of till sampling is to discriminate between magnetic anomaly targets. This survey is to follow-up on the high resolution airborne magnetic surveys commissioned by OMDC during the fall of 2003. This past survey outlined in detail several possible kimberlite targets on the Otish Diamond properties. A kimberlite is an intrusive rock that is the primary source of diamonds and the majority of diamond mines worldwide are hosted within these kimberlitic rocks.

IOS Services Geoscientifiques Inc. of Chicoutimi, Quebec had been contracted by OMDC to perform the till sampling and survey program. IOS has been performing diamond exploration programs in the Otish Mountains since 1994, with such clients as BHP Diamonds, DeBeers, Majescor, Dios, Southern Era, Stornoway and several others. Additionally, IOS has their own laboratory for the extraction of Kimberlite Indicator Minerals (KIM), which will permit a rapid turnaround for possible follow-up programs.

According to Chief Executive Officer, Max Pozzoni, "We are very pleased to be utilizing IOS's expertise to further our progress in discovering diamonds on the Otish Diamond properties. Given that the discoveries of the past survey were so promising, we have every reason to believe this till sampling survey will help us pinpoint the most viable kimberlite targets."

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 a total of 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 valuable explorations sites of industry leaders Ashton Mining, 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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