File: '\\swfile\EmailIn\20250318 163515 Attachment Margaret Lake.News Release announcing private placement - March 18, 2025 (W0460652-3x10917F).docx'

1

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION

IN THE UNITED STATES

MARGARET LAKE ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Vancouver, British Columbia - March 18th, 2025 - Margaret Lake Diamonds Inc. (TSXV:DIA) (OTC:DDIAF) (FSE:M85A) ("DIA" or the "Company") is pleased to announce a non-brokered private placement of up to 4,461,538 units (each a "Unit") at a price of $0.065 per Unit for gross proceeds of up to $290,000 (the "Private Placement").

Each Unit will consist of one common share (each, a "Share") and one transferrable common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one additional Share of the Company at a price of $0.085 per Share for a period of 36 months from the date of issuance, subject to final TSX Venture Exchange ("TSX-V") approval.

The net proceeds from the Private Placement will be allocated towards exploration activities and for general corporate purposes. In accordance with the policies of the TSX-V, the Company may pay finder's fees in connection with the Private Placement. All securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day as required under applicable securities legislation.

Any participation by insiders of the Company in the Private Placement will constitute a related party transaction as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the securities to be issued under the Private Placement nor the consideration to be paid by insiders of the Company will exceed 25% of the Company's market capitalization.

On behalf of the Board:

Margaret Lake Diamonds Inc.

"R. Nick Horsley"

President, Chief Executive Officer, Chairman

Tel: 604.880.2189 | Email: rnpshorsley@gmail.com

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

This release includes forward-looking statements regarding DIA, and the Letain Project, which may include, but is not limited to, statements with respect to the completion of the acquisition of the Letain Project, and the ability to obtain regulatory approvals, and other factors. Often, but not always, Forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes", "estimates" 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. Such statements are based on the current expectations of the management of each entity. The forward-looking events and circumstances discussed in this release, including completion of the acquisition of the Letain Project, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including the risk that DIA may not obtain all requisite approvals for the acquisition, including the approval of the TSXV, risks of the resource industry, failure to obtain any other required regulatory approvals, economic factors, any estimated amounts, timing of the acquisition and requited payments, the equity markets generally and risks associated with growth, exploration and development. Although DIA has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made DIA undertaked no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

File: Attachment Margaret Lake.News Release announcing private placement - March 18, 2025 (W0460671x10917F).pdf

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

MARGARET LAKE ANNOUNCES NON-BROKERED PRIVATE PLACEMENT Vancouver, British Columbia - March 18th, 2025 - Margaret Lake Diamonds Inc. (TSXV:DIA) (OTC:DDIAF) (FSE:M85A) ("DIA" or the "Company") is pleased to announce a non-brokered private placement of up to 4,461,538 units (each a "Unit") at a price of $0.065 per Unit for gross proceeds of up to $290,000 (the "Private Placement").

Each Unit will consist of one common share (each, a "Share") and one transferrable common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one additional Share of the Company at a price of $0.085 per Share for a period of 36 months from the date of issuance, subject to final TSX Venture Exchange ("TSX-V") approval.

The net proceeds from the Private Placement will be allocated towards exploration activities and for general corporate purposes. In accordance with the policies of the TSX-V, the Company may pay finder's fees in connection with the Private Placement. All securities issued pursuant to the Private Placement will be subject to a hold period of four months and one day as required under applicable securities legislation.

Any participation by insiders of the Company in the Private Placement will constitute a related party transaction as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the securities to be issued under the Private Placement nor the consideration to be paid by insiders of the Company will exceed 25% of the Company's market capitalization.

On behalf of the Board:

Margaret Lake Diamonds Inc. "R. Nick Horsley" President, Chief Executive Officer, Chairman Tel: 604.880.2189 | Email: rnpshorsley@gmail.com

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

This release includes forward-looking statements regarding DIA, and the Letain Project, which may include, but is not limited to, statements with respect to the completion of the acquisition of the Letain Project, and the ability to obtain regulatory approvals, and other factors. Often, but not always, Forward-looking statements can

1 be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes", "estimates" 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. Such statements are based on the current expectations of the management of each entity. The forward- looking events and circumstances discussed in this release, including completion of the acquisition of the Letain Project, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including the risk that DIA may not obtain all requisite approvals for the acquisition, including the approval of the TSXV, risks of the resource industry, failure to obtain any other required regulatory approvals, economic factors, any estimated amounts, timing of the acquisition and requited payments, the equity markets generally and risks associated with growth, exploration and development. Although DIA has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward- looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made DIA undertaked no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

2