TORONTO, Apr 4, 2006 (Canada NewsWire via COMTEX News Network) -- Tahera Diamond Corporation (TSX-"TAH") announces that it has declared physical completion of construction of its Jericho Diamond Mine pursuant to the credit facility in place with Tiffany & Co. Tahera has now fully drawn the $35 million Tiffany facility.

Tahera also announces that all of the common share purchase warrants that expired on March 31, 2006 that were issued in conjunction with a June 2005 financing have been exercised, resulting in the issue of approximately 26,000,000 common shares for gross proceeds of $13 million.

Tahera expects the Jericho diamond processing plant to achieve commercial production during the second quarter with throughput averaging the nominal design production rate of 2,000 tonnes per day over the next three months. A discussion of the pre-production phase activity will be reported in the Company's first quarter report, scheduled for release in May 2006.

Tahera Diamond Corporation (www.tahera.com) is a unique Canadian diamond Company. Tahera's primary asset is its wholly-owned Jericho diamond project, which represents Canada's third and Nunavut's first diamond mine. Tahera's diamond purchase and marketing arrangement with Tiffany & Co., one of the world's leading jewelers, ensures that the Company receives competitive market prices for its Jericho diamonds. Tahera has several other prospective diamond projects in Canada's prolific Slave Craton, including the Muskox kimberlite joint venture project with De Beers Canada.

Forward Looking Statements

The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Our expectations as to the production rate of the Jericho Diamond Mine may be affected by certain factors such as extreme weather patterns, problems inherent to new mining operations, relationships with employees and key suppliers and others. See our most recent annual information form for more information about the risks that may affect such forward looking statements.

Tahera Diamond Corporation

R. Peter Gillin - Chairman and CEO

Grant Ewing - Executive Vice President

%SEDAR: 00003313E

SOURCE: Tahera Diamond Corporation

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