LUCARA RECOVERS 62 CARAT FANCY PINK DIAMOND “BOITUMELO” FROM THE KAROWE MINE IN BOTSWANA

Lucara Diamond Corp. (“Lucara” or the “Company”) is pleased to announce the recovery of a 62.7 carat fancy pink diamond from its 100% owned Karowe Diamond Mine located in Botswana (image attached). The diamond has been given the name “Boitumelo” meaning “Joy” in Setswana. This impressive diamond, measuring 26x17x16mm is described as a high-quality, fancy pink, Type IIa gem and was recovered from direct milling of ore sourced from the EM/PK(S) unit of the South Lobe. A superb, 22.21 carat fancy pink gem of similar quality was also recovered during the same production period along with two additional pink gems of similar colour and purity weighing 11.17, and 5.05 carats (image attached). The 62.7 carat Boitumelo diamond represents the largest fancy pink gem to be recovered in Botswana and one of the world’s largest rough pink diamonds on record.

Eira Thomas, CEO commented: “Lucara is delighted to announce another historic diamond with the recovery of the Boitumelo, and very pleased to demonstrate the continued potential for large, coloured diamonds from the South Lobe production. These remarkable pink diamonds join a collection of significant diamond recoveries in 2021 produced from the EM/PK(S) which forms a key economic driver for the proposed underground mine at Karowe.”

This press release has been reviewed and approved by Dr. John Armstrong, Ph.D. P.Geol., Vice-President, Technical Services of the Company and a “Qualified Person” for the purposes of National Instrument 43-101.

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