TORONTO, Aug. 17, 2006 (Canada NewsWire via COMTEX News Network) -- Tahera Diamond Corporation (TSX-TAH) held the official opening ceremony for its Jericho Diamond Mine today. The Jericho Diamond Mine represents Canada's third, and Nunavut's first, diamond mine. This historic event for Nunavut is the result of a collaborative effort by Tahera and its partners, coupled with the support of the local community and all levels of government.

Construction of the Jericho Diamond Mine was substantially completed during 2005, and the first diamonds were produced in January 2006. Tahera declared commercial production on July 1, 2006.

Over 140 guests and dignitaries attended the opening ceremony at the mine-site, including The Right Hon. Stephen Harper, Prime Minister; The Hon. Paul Okalik, Premier of Nunavut Territory; and The Hon. James Prentice, Minister of Indian Affairs and Northern Development.

"The official opening marks the creation of Canada's newest diamond mine and the first in Nunavut. We are very pleased with the accomplishments of the Tahera team and look forward to many years of successful mining," said Peter Gillin, Chairman and CEO of Tahera.

Tahera Diamond Corporation

R. Peter Gillin - Chairman and CEO

Grant Ewing - Executive Vice President

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SOURCE: Tahera Diamond Corporation

Investor Relations: Tel: (416) 777-1998, Fax: (416) 777-1898, Toll free: (877)
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