Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to announce the recovery of a 166 carat diamond from its 100% owned Karowe Diamond Mine located in Botswana. The diamond is described as a Type IIa gem, recovered in the Coarse XRT unit at Karowe from direct milling of ore sourced from the M/PK(S) unit of the South Lobe.

William Lamb, CEO commented: "Lucara is pleased to announce the ongoing recovery of large, high-quality diamonds from the Karowe Mine. This diamond is the 328th stone over 100 carats since we commenced mining in 2012. This latest recovery further supports the economic rationale for investing in the underground expansion project that will extend mine life to at least 2040."

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.