Lucara Diamond Corp. announces the intention to appoint William Lamb as the Company's President and Chief Executive Officer and a director, replacing Ms. Eira Thomas.

Eira Thomas co-founded Lucara in 2007, with partners Lukas Lundin and Catherine McLeod-Seltzer. Ms. Thomas took on the role of President and Chief Executive Officer of the Company in 2018. Ms. Thomas has been integral to the development and success of the Company's 100% owned Karowe Diamond Mine, which is the world's leading source of large exceptional quality Type IIa diamonds.

The Board would like to acknowledge the special contributions that Eira has made over her many years of involvement with Lucara in her capacity as a director, and specifically over the last five years as CEO. As CEO, Ms. Thomas introduced an innovative diamond sales strategy for Lucara's production of rough stones greater than 10.8+ carats though Lucara's agreement with HB Antwerp, generating regular revenues on superior pricing terms. Ms. Thomas also led the commercialization of Clara, a secure, digital diamond sales platform. More recently under Ms. Thomas's leadership, the Karowe Mine achieved peak operational performance and she and her team arranged for a senior secured project financing debt package of $220 million enabling the underground expansion to advance.

William Lamb has over 25 years' experience in mining project development and operations. William served as Chief Executive Officer of Lucara Diamond Corp. from May 2011 to February 2018. He also has prior diamond and other mining company expertise gained through projects, process engineering and operations with De Beers, as well as serving on several public mining company boards. During his original tenure at Lucara, William was responsible for the highly successful construction of the original Karowe mine and its facilities. William's prior experience is ideally suited to advancing the Company's key underground project to a successful completion.

Paul Conibear, Chair of Lucara's board of directors stated, "On behalf of Lucara's Board of Directors, I would like to thank Eira for her leadership and the integral role she has played in the success of the Karowe Diamond Mine. Eira's commitment, excellent team leadership skills, focus on operational excellence and her ability to see how innovation and technology can be harnessed to strengthen our Company have been invaluable. Lucara has also benefited from the deep ties Eira has made with the communities in which we operate and our stakeholders through her hard work and foresight."

Adam Lundin stated, "We are very grateful for Eira's tremendous contribution to Lucara since its founding. She has laid the groundwork for further value add at the Karowe Diamond Mine, for the benefit of all Lucara's stakeholders. We look forward to working with Eira on exploring options to maximize the value of Clara for all stakeholders. We are very pleased to have William rejoin us and successfully lead the company once again."