Archangel Diamond Corp Watch

ended 12/31/02 FY 2002

ended 12/31/01 FY 2001

Notice of sale of securities

Securities registration termination

Material disclosure

Newsflash

Toronto – November 24, 2003 – The Following Is an Update to Information Provided in the Release Dated November 19, 2003 Relating to the Legal Proceedings Between Archangel Diamond Corporation (The “Company”) and Arkhangelskgeoldobycha

Material disclosure

The Interim Consolidated Financial Statements of the Company Have Been Prepared by Management in Accordance With Canadian Generally Accepted Accounting Principles. the Interim Consolidated Financial Statements Should Be Read in Conjunction With the Consolidated Financial Statements and the Accompanying Notes for the Fiscal Year Ended December 31, 2002. 2. Significant Accounting Policies and Change in Accounting Policy. These Interim Financial Statements Follow the Same Accounting Policies and Methods of Application as the Annual Financial Statements for the Year Ended December 31, 2002. 3. Stock Based Compensation on January 20, 2003, the Corporation Granted 1,500,000 Stock Options to a Consultant With an Exercise Price of Cdn$0.35, Expiring on January 20, 2007. No Compensation Cost Has Been Recognized for Stock-Based Compensation Awards Granted to Employees. 4. Comparative Figures Certain 2002 Comparative Figures Have Been Reclassified to Conform With the Presentation Adopted in 2003