3/2/2004 1:35:10 PM ET News Release Index

NUNAVUT IMPACT REVIEW BOARD RELEASES FINAL REPORT OUTLINING TERMS & CONDITIONS FOR THE JERICHO DIAMOND PROJECT

Toronto - March 2, 2004

Tahera Corporation announces that it has received the Final Report associated with the environmental review for the Jericho Diamond Project from the Nunavut Impact Review Board (NIRB). As reported previously (press release dated Feb. 6, 2004), the NIRB has recommended approval of the Jericho Diamond Project to the Minister of Indian and Northern Affairs.

"NIRB is recommending that Tahera Corporation's proposal to build a diamond mine at the Jericho site be approved. This project proposal will have significant direct and indirect positive economic benefits associated with it and the Board believes the people of Nunavut, and in particular the West Kitikmeot Region, welcomes this diamond mine." (NIRB Final Report for the Jericho Diamond Project, February 2004)

The NIRB Final Report provides an analysis of the proceedings of the Final Hearing, and outlines terms and conditions with respect to the NIRB's recommendation of approval for the Jericho Diamond Project. The terms and conditions are specifically related to the areas of monitoring, noise, wildlife, fish and aquatics, environmental management, abandonment and reclamation, and socio-economics. The NIRB Final Report emphasizes the need for the Company to work cooperatively with the various regulatory bodies and other stakeholders during the permitting phase. Tahera remains committed to working with all stakeholders to satisfy the terms and conditions outlined in the NIRB Report. A complete copy of the NIRB Final Report will be posted on Tahera's website in the coming days.

About Tahera Corporation
Tahera Corporation (www.tahera.com), a unique Canadian diamond Company, 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. The common shares of the Company trade on the TSX under the symbol 'TAH'.

Tahera Corporation
Grant Ewing - Executive Vice President

For further information:
Investor Relations
Tel: (416) 777-1998 Fax: (416) 777-1898 Toll free: (877) 777-2004
Email: investor_relations@tahera.com