LUCARA SHARE CAPITAL AND VOTING RIGHTS UPDATE

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LUCARA SHARE CAPITAL AND VOTING RIGHTS UPDATE

February 29, 2016 (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) Lucara Diamond
Corp. ("Lucara" or the "Company") reports the following share capital and
voting rights update in accordance with the Swedish Financial Instruments
Trading Act.

As a result of the issuance of shares pursuant to the exercise of employee
stock options, the number of issued and outstanding shares of the Company has
increased to 380,129,413 common shares with voting rights as at February 29,
2016.

On behalf of the Board,

William Lamb

President and CEO

Lucara Diamond on Facebook: https://www.facebook.com/LucaraDiamondCorporation/

Lucara Diamond on Twitter: https://twitter.com/LucaraDiamond

Lucara Diamond on LinkedIn:
https://www.linkedin.com/company/lucara-diamond-corp-

Lucara Diamond on Google+:
https://plus.google.com/b/108967628758144031612/+LucaradiamondCorporation

Lucara Diamond on Instagram: https://www.instagram.com/lucaradiamond/

For further information, please contact:

Sophia Shane, Corporate Development +1 (604) 689-7842,
sophias@namdo.com

Sweden: Robert Eriksson, Investor Relations +46 701-112615, reriksson@rive6.ch

UK: Louse Mason, Portland +44 20 7554 1854

lucaradiamond@portland-communications.com

About Lucara

Lucara is a well positioned diamond producer. The Company has an experienced
board and management team with extensive diamond development and operations
expertise. The Company’s main producing asset is the 100% owned Karowe Mine in
Botswana. The Company also conducts exploration activities and holds two
precious stone prospecting licenses close to its Karowe mine.

The information in this release is accurate at the time of distribution but may
be superseded or qualified by subsequent news releases.

The information in this release is subject to the disclosure requirements of
Lucara Diamond Corp. under the Swedish Securities Market Act and/or the Swedish
Financial Instruments Trading Act. This information was publicly communicated
on February 29, 2016 at 4:00 p.m. Vancouver time.