Adamas One Corp. (Nasdaq: JEWL) (“Adamas One,” “Adamas” or the “Company”), The Original Lab-Grown Diamond Company™, a high-tech company that leverages proprietary technology to produce high-quality, single-crystal, Lab-Grown Diamonds for jewelry and diamond materials for industrial and technology uses, today announces the completion of its initial designs for the Company’s Elle Jolie high-end luxury jewelry line. This USA-made inaugural line is expected to launch in September and will be initially marketed through Adamas’ www.ElleJolie.com ecommerce website.

Adamas One CEO Jay Grdina stated, “We have been diligently preparing to launch our Elle Jolie line of luxury Lab-Grown Diamond jewelry, which we strongly believe will be able to compete in a market dominated by high-end retailers using mined stones. Our designs were created by many of the same visionaries that provided some of these houses with their pieces. The quality of the Elle Jolie brand of jewelry is the total embodiment of luxury and is created in a more sustainable and accessible manner. We expect these key differentiators to make the line more attractive to all consumers. Our goal is to bring luxury to the lab grown diamond sector. As we see the U.S. market growing at a very rapid pace, we want to make sure as a U.S. based manufacturer that we are in the forefront of bringing quality goods to the market. The introduction of our Elle Jolie jewelry line is an exciting milestone for us, and we look forward to consumers clearly seeing that we are now in a new era for diamond jewelry.”

The Company is poised to enter the $84B retail diamond jewelry market, ideally competing effectively against both mined and Lab-Grown diamonds. Unit sales of Lab-Grown Diamonds in jewelry increased almost 58%, according to trend analytics company Tenoris’ April 2023 Market Comments.

About Adamas One CorpAdamas is a Lab-Grown Diamond manufacturer that produces near flawless single-crystal diamonds for gemstone and industrial applications, in its facilities in Greenville, South Carolina. The Company holds 36 patents and uses its proprietary chemical vapor deposition (CVD) to grow gem-sized and smaller diamond crystals. Adamas One™ Lab-Grown Diamonds have the same physical, chemical and optical properties as mined diamonds. The Company’s controlled manufacturing processes enables it to produce very high-quality, high-purity, single-crystal colorless, near colorless and fancy colored Type IIA diamonds to suit a variety of industrial and gemstone applications. The Company intends to market and sell its diamonds into the wholesale jewelry and industrial markets. For more information, visit www.adamasone.com.Not Mined. Not Fake. Just sped up perfection. ™

Forward-Looking StatementsThis press release may include “forward-looking statements.” To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, including, but not limited to, our ability to integrate the AI solutions as expected, or at all, and the success of our business partners. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of the document in which they are contained, and Adamas One Corp. does not undertake any duty to update any forward-looking statements except as may be required by law. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

For more information contact:

Investor RelationsCORE IRScott Arnold, Managing Partner516 222 2560ir@adamasone.com

Media RelationsCORE IRJules Abraham917 885 7378

Source: Adamas One Corp.

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