Tahera Diamond Corporation announces that Indian and Northern Affairs Canada has granted the federal land lease for the Crown Lands, and the Kitikmeot Inuit Association (KIA) has provided access rights to the Inuit Owned Lands that are required for mobilization and subsequent construction of the Jericho Diamond Mine. These approvals follow receipt of a ‘Class A’ Water License for the Jericho Diamond Mine that the Company received in January 2005. Tahera expects that the KIA land lease will be finalized shortly.

Mobilization of materials, equipment, and fuel to the site will now commence, with light loads transported during the first part of February, and heavy loads scheduled to be transported to the site during late February through to the beginning of April.

The current development schedule calls for substantial completion of mine construction by the end of 2005, and attainment of commercial diamond production in early 2006.

Tahera Diamond Corporation (www.tahera.com) is a unique Canadian diamond Company focused on developing its wholly-owned Jericho Diamond Project as CANADA'S NEXT and NUNAVUT'S FIRST DIAMOND MINE. Tahera recently entered into an arrangement with Tiffany & Co., one of the world’s leading jewelers, with respect to a diamond purchasing, marketing, and finance agreement for the Jericho Diamond Project. 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 Diamond Corporation
R. Peter Gillin – Chairman and CEO
Grant Ewing – Executive Vice President, Corporate Development

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