Tahera Corporation is pleased to announce that it has completed the Final Environmental Impact Statement (EIS) for the Jericho Diamond Project. Completing the final EIS represents a significant milestone in the diamond mine development process in Canada. The EIS is an extensive document that includes a project description, environmental baseline studies, impact assessments, environmental management plans, reclamation plans, and information regarding Tahera's extensive community consultation record. The final EIS was prepared based on feedback received from regulatory agencies on the draft EIS. The regulatory agencies, including the Nunavut Impact Review Board, the Nunavut Water Board, and various Federal authorities will now conduct a thorough review of the final EIS submission. The review period is expected to last a minimum of 60 days. The review period will be followed by a series of public hearings conducted in several Nunavut communities. Tahera is optimistic that the public hearings will be conducted during the second quarter of this year.

Tahera is very encouraged by the continued support, indicated by key Nunavut stakeholders, of the Company's goal of developing the Jericho Diamond Project as Nunavut's first diamond mine. Tahera's goal is to receive regulatory approval for development of the Project during 2003.

Jericho Diamond Project

The Jericho Diamond Project feasibility study (SRK Consulting (2000), Michael J. Michaud, qualified person) indicates robust economics for a diamond mining operation centered on the land-based Jericho kimberlite. The study shows that the Project will produce 3 million carats over a mine life of eight years. Based on a modeled diamond valuation of US$75 - US$88 per carat for the Jericho diamonds, the gross revenue for the Project ranges from $330 million to $390 million with an IRR from 34% to 50%, respectively. The feasibility study indicates a capital cost of approximately $55 million for the Project. The total diamond resource of the Jericho Project was estimated by SRK Consulting to be approximately 6,000,000 carats (Indicated Resource: 3.7 million tonnes (at) 1.14 ct/t; Inferred Resource: 3.4 million tonnes (at) 0.52 ct/t).

Tahera is continuing to assess methods of financing construction of the Project; consideration is being given to developing the Project through a strategic alliance with one of several diamond enterprises that have expressed an interest.

To find out more about Tahera Corporation (TSX: TAH), visit our website, www.tahera.com.

Tahera Corporation is a unique Canadian junior diamond company in that it has a positive feasibility study completed on an advanced stage diamond development project. Tahera is focused on developing its wholly-owned Jericho Diamond Project as CANADA'S NEXT, and NUNAVUT'S FIRST, DIAMOND MINE. Tahera has several other prospective diamond projects in Canada's prolific Slave Craton, including the Rockinghorse Property joint venture, where the significantly diamondiferous Anuri kimberlites occur. The common shares of the Company trade on the Toronto Stock Exchange under the symbol 'TAH'.

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VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: http://www.newswire.ca/cgi-bin/inquiry.cgi?OKEY=21780

For further information: please contact: Grant Ewing, Vice President Investor Relations &Corporate Development, Tel: (416) 777-1998, Fax: (416) 777-1898, Toll free: (877) 777-2004,
Email: investor@tahera.com   

News release via Canada NewsWire, Toronto 416-863-9350