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2014-04-10

LUCARA’S EXCEPTIONAL STONE TENDER GENERATES $50.5 MILLION. YEAR-TO-DATE REVENUES EXCEED $84 MILLION.

Lucara Diamond Corp
Company Announcement

LUCARA’S EXCEPTIONAL STONE TENDER GENERATES $50.5 MILLION. YEAR-TO-DATE
REVENUES EXCEED $84 MILLION.

April 10, 2014 (LUC – TSX, LUC – BSE, LUC – NASDAQ OMX First North) … Lucara
Diamond Corp. (“Lucara” or the “Company”) is pleased to announce the results
from its first Exceptional Stone Tender of 2014. The special tender of Karowe
diamonds was completed on April 10, 2014 and consisted of 20 single stone lots.
All 20 diamonds, totaling 1,191 carats were sold for gross revenues of $50.47
million ($42,347 per carat). The highest value stones sold were a 167.1 carat
and an 86.8 carat diamond which sold for $12.7 million ($75,821/ct) and $5.1
million ($58,627/ct) respectively. Of the 20 diamonds on offer 15 of these sold
for more than $1.0 million, including 8 which sold for more than $2.0 million.

In addition to the exceptional stone tender, the Company held two regular
diamond tenders in the first quarter of 2014. A total of 107,500 carats were
sold for combined revenues of $33.6 million. This together with the exceptional
stone tender brings the total year-to-date revenues to $84.06 million equal to
$782 per carat.

William Lamb, President and CEO, commented, "Strong regular tenders combined
with the outstanding results from the exceptional stone tender continue to
demonstrate the quality of the Karowe Mine and firmly establishes Karowe as one
of the world’s leading diamond producers by value, further reinforcing the
updated resource statement issued in December 2013.

The Company’s next exceptional stone tender will be scheduled for the third
quarter of this year. Karowe Mine has, this year, produced a number of high
value diamonds which we are considering for this tender, including a 153.5
carat gem quality stone.”

On Behalf of the Board,

William Lamb

President and CEO

Lucara’s Certified Advisor on NASDAQ OMX First North is Pareto Securities AB.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

Certain of the statements made and contained in this news release constitute
forward-looking statements as defined in applicable securities laws. Generally,
these forward-looking statements can be identified by the use of
forward-looking terminology such as “expects”, “anticipates”, “believes”,
“intends”, “estimates”, “potential”, “possible” and similar expressions, or
statements that events, conditions or results “will”, “may”, “could” or
“should” occur or achieved.

Forward looking statements are based on the opinions and estimates of
management as of the date such statements are made, and they are subject to a
number of known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievement
expressed or implied by such forward-looking statements. The Company believes
that expectations reflected in this forward-looking information are reasonable
but no assurance can be given that these expectations will prove to be correct
and such forward-looking information included in this news release should not
be unduly relied upon. In particular, this news release may contain forward
looking information pertaining to the following: the estimates of the Company’s
mineral reserve and resources; estimates of the Company’s production and sales
volumes for the Karowe Mine; estimated costs to construct the Karowe Mine,
start-up, exploration and development plans and objectives, production costs,
exploration and development expenditures and reclamation costs; expectation of
diamond price and changes to foreign currency exchange rate; expectations
regarding the need to raise capital; possible impacts of disputes or litigation
and other risks and uncertainties describe under Risks and Uncertainties
disclosed in the Company’s Annual Information Form.

There can be no assurance that such statements will prove to be accurate, as
the Company’s results and future events could differ materially from those
anticipated in this forward-looking information as a result of those factors
discussed in or referred to under the heading “Risk Factors and Uncertainties’
in the Company’s Annual Information Form dated March 20, 2014 available at
http://www.sedar.com, as well as changes in general business and economic
conditions, changes in interest and foreign currency rates, the supply and
demand for, deliveries of and the level and volatility of prices of rough
diamonds, costs of power and diesel, acts of foreign governments and the
outcome of legal proceedings, inaccurate geological and recoverability
assumptions (including with respect to the size, grade and recoverability of
mineral reserves and resources), unanticipated operational difficulties
(including failure of plant, equipment or processes to operate in accordance
with specifications or expectations, cost escalations, unavailability of
materials and equipment, government action or delays in the receipt of
government approvals, industrial disturbances or other job actions, adverse
weather conditions, and unanticipated events relating to health safety and
environmental matters)

Accordingly, readers are cautioned not to place undue reliance on these
forward-looking statements which speak only as of the date the statements were
made, and the Company does not assume any obligations to update or revise them
to reflect new events or circumstances, except as required by law.

For further information, please contact:
Sophia Shane, Corporate Development +1 (604) 689-7842
Robert Eriksson, Investor Relations, Sweden +46 701-112615

Författare SSE

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