Otish Announces Strong Progress in its Summer Exploration Program

NEW YORK, July 27, 2004 (PRIMEZONE) -- Otish Mountain Diamond Company, Inc. (OTCBB:OMDC), is pleased to announce today that the first part of its ground sampling program has been completed ahead of schedule. 116 samples were collected in eight days of field operations with the support of a helicopter from Canadian Helicopters Ltd.

The samples were obtained down ice from major geophysical anomalies identified during high-resolution airborne magnetic surveys conducted throughout the course of the winter. Targeted properties included Lac Orillat, Lad Joubert, Lac Square Rock, Lac Taffnel and Lac Herve. The samples will now be processed for indicator minerals and micro diamonds content in the laboratories of IOS Service Geoscentifiques Inc. 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.

According to CEO, Max Pozzoni, "We are very satisfied with the way the company has carried out its summer exploration program as this has proven to be a record season for diamond exploration activities in the Otish Mountains of Quebec. Upon receiving lab results we will be able to establish potential kimberlitic targets for the upcoming drilling season."

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 exploration sites of industry leaders Ashton Mining, Majescor and Dios (in partnership with DeBeers of South Africa).

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