LUCARA RECOVERS 472 CARAT DIAMOND, 3RD LARGEST EVER FOR KAROWE
(LUC – TSX, LUC – BSE, LUC – Nasdaq OMX
Stockholm) Lucara Diamond Corp. (“Lucara” or the “Company”)
wishes to announce the recovery of a 472 carat, top light brown gem
diamond (picture attached), the third largest diamond ever
recovered from its 100% owned Karowe Diamond Mine located in
Botswana.
CEO, Eira Thomas comments “In 2018, mining at
Karowe is focused in the high value south lobe, which consistently
delivers large, high quality diamonds in excess of 10.8 carats in
size. The 472 carat is the third largest diamond ever
recovered from the mine and will be sold alongside other
exceptional stones recovered since the beginning of the year as
part of the first exceptional stone tender (EST) later in
2018.”
Year to date Production Highlights
- 218 specials (diamonds >10.8 carats) recovered in Q1, the
3rd highest quarterly count on record including:
- 4 stones greater than 100 carats each
- At least 8 EST qualifying diamonds
- First regular stone tender (RST) completed in March and will be
reported as part of the Q1 results on May 8, 2018
General Corporate Update
Lucara continues to focus on maximizing value at
Karowe, where a pre-feasibility study assessing the potential for
going underground and extending mine-life from 2026 to 2036 is well
underway and progressing on schedule for completion towards
year-end.
In February 2018, Lucara also announced the
acquisition of Clara, a secure, digital, rough diamond sales
platform that combines proprietary analytics with existing cloud
and blockchain technologies to modernize the current diamond supply
chain. Commercialization work has since commenced, under a
budget of approximately US$2 million, and is tracking on schedule
for implementation using diamonds from Karowe, beginning in August
2018.
On behalf of the Board,
Eira Thomas
Chief Executive Officer
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For further information, please contact:
Lucara: Michelle Fyfe, Investor
Relations +1
(604) 689-7842, michelle.fyfe@lucaradiamond.com
Sweden: Robert Eriksson, Investor
Relations +46 701-112615, reriksson@rive6.ch
UK: Louise Mason, Citigate Dewe
Rogerson +44 (0) 20 7282 2932,
louise.mason@citigatedewerogerson.com
About Lucara
Lucara is a leading independent producer of
large exceptional quality Type IIa diamonds from its 100% owned
Karowe Mine in Botswana. The Company has an experienced board and
management team with extensive diamond development and operations
expertise. The Company operates transparently and in
accordance with international best practices in the areas of
sustainability, health and safety, environment and community
relations.
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 the Company under the EU Market
Abuse Regulation. This information was publicly communicated on
April 12, 2018 at 8:45 a.m. Eastern Time.
CAUTIONARY NOTE REGARDING FORWARD LOOKING
STATEMENTS
Certain of the statements made and contained
herein and elsewhere 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 be
achieved.
Forward-looking statements are based on the
opinions and estimates of management as of the date such statements
are made, including in respect to Lucara's ability to make future
equity and cash payments to the former shareholders of Clara and
Clara's founders, facilitators and management and the approval of
the Toronto Stock Exchange. These assumptions, opinion and
estimates 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 accurate and such
forward-looking information included herein should not be unduly
relied upon. In particular, this release may contain forward
looking information pertaining to the payment of future
consideration to the former shareholders of Clara and its founders,
facilitators and management and Lucara's ability to make such
payment and the approval of the Toronto Stock Exchange.
There can be no assurance that such forward
looking 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 "Risks
and Uncertainties"' in the Company's most recent Annual Information
Form 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), and
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.
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