Tahera Diamond Corporation (TSX-“TAH”) announces that is has closed its previously announced flow-through private placement financing. A syndicate of underwriters led by National Bank Financial Inc., and comprised of Dundee Securities Corporation, TD Securities Inc., Westwind Partners Inc., GMP Securities L.P. and Paradigm Capital Inc. has purchased 13,235,300 flow-through common shares from treasury at a price of $0.68 per share for gross proceeds of approximately $9 million. In connection with their services in the financing, the underwriters were paid a commission equal to 5% of the gross proceeds of the offering. The proceeds from this financing will be utilized to fund the 2006 exploration program on the Company’s diamond projects in Nunavut.

Tahera Diamond Corporation
R. Peter Gillin - Chairman and CEO
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  
Website: www.tahera.com