December 3, 2003

News Release: Tahera Corporation &the Kitikmeot Inuit Association announce agreement in principle

Tahera Corporation and the Kitikmeot Inuit Association (KIA) are pleased to announce that they have reached an agreement in principle with respect to an Inuit Impact Benefit Agreement (IIBA) relating to the Jericho Diamond Project. This agreement represents a significant milestone in the Jericho diamond mine development process, and has been achieved following extensive negotiation between Tahera and the KIA. The KIA is the Designated Inuit Organization responsible for negotiating the IIBA on behalf of the people of Nunavut. The IIBA satisfies the requirements of both Articles 20 and 26 of the Nunavut Land Claims Agreement and outlines the benefits that will be provided to Inuit as a result of the development and operation of the Jericho diamond mine. The agreement will ensure that local employment, training, and business opportunities arising from construction and operation of the project are provided to Kitikmeot Inuit. The IIBA also outlines the special considerations and compensation that Tahera will provide for Inuit regarding traditional, social, and cultural matters, and effects on Inuit water rights.

Tahera Corporation is very encouraged by the commitment and dedication shown by the KIA in reaching this agreement in a timely manner. Mr. R. Peter Gillin, Tahera's CEO and Chairman stated, 'This agreement will provide for meaningful participation of the Inuit during the development and operational phases of the Jericho diamond mine. We are very appreciative of the effort put forward by the KIA during the negotiation process, and are pleased to have reached this milestone agreement.'

This agreement also marks a historical event for Nunavut, as it is the first IIBA for a diamond mining project. The agreement clearly indicates the support of the KIA for the development of Nunavut's first diamond mine. Mr. Charlie Evalik, President of the KIA stated, 'Tahera's positive approach to working with the Kitikmeot Inuit Association's negotiators on finalizing this agreement demonstrates a corporate commitment to ensuring that Inuit participate meaningfully in their diamond mine project that is located on our lands. The jobs and contracts that Inuit and Inuit firms receive from the mine will create a lot of economic wealth for Kitikmeot Inuit. We look forward to working with Tahera when we begin implementation of the agreement.'

Tahera and the KIA expect to formally sign the agreement at a ceremony in Nunavut in early 2004.

About Tahera Corporation

Tahera Corporation (www.tahera.com), a unique Canadian diamond Company, is focused on developing its wholly-owned Jericho Diamond Project as CANADA'S NEXT and NUNAVUT'S FIRST DIAMOND MINE. 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'.


SOURCE Tahera Corporation

Tahera Corporation - Grant Ewing - Vice President, Investor Relations &Corporate Development, Tel: (416) 777-1998, Fax: (416) 777-1898, Toll free: (877) 777-2004, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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