Tahera Diamond Corporation enters into financial advisory agreement

    TORONTO, April 22 /CNW/ - Tahera Diamond Corporation (TSX:TAH) announces
that it has entered into a financial advisory agreement with Cormark
Securities Inc. in connection with a potential equity or debt financing to
raise gross proceeds of between $30 and $40 million to fund the
re-commencement of commercial mining operations at the Jericho Diamond Mine,
or the direct or indirect sale or disposition of the Mine.

    Cautionary Note Regarding Forward-Looking Information

    This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. Generally,
forward-looking information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking
information is based on various assumptions and on the best estimates of
Tahera as of the date hereof, and is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking information,
including but not limited to: general business, economic, competitive,
political and social uncertainties; the actual results of redevelopment
activities; delay or failure to receive regulatory approvals; changes in
project parameters as plans continue to be refined; future prices of mineral
prices, as well as those risks identified under "Risk Factors" disclosure
sections in the documents filed on SEDAR by Tahera from time to time. Although
the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
information. The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.

    %SEDAR: 00003313E

For further information:

For further information: Tahera Diamond Corporation: Andrew Gottwald,
Chief Restructuring Officer, Email: agottwald@tahera.com; Caz Petroleum Inc.:
Paul Champagne, President, Tel: (416) 616-6222, Email: PaulCChampagne@aol.com

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