STAR - ORION SOUTH DIAMOND PROJECT UPDATE ON RECENT ACTIVITIES TOWARD THE 2019 TRENCH CUTTER BULK SAMPLING PROGRAM George H. Read, P. Geo., Senior Vice President Exploration and Development of Star Diamond Corporation (“Star

1

NEWS RELEASE May 23, 2019

Stock Symbol: DIAM: TSX Saskatoon, Saskatchewan

STAR - ORION SOUTH DIAMOND PROJECT

UPDATE ON RECENT ACTIVITIES TOWARD THE 2019 TRENCH CUTTER BULK SAMPLING PROGRAM

George H. Read, P. Geo., Senior Vice President Exploration and Development of Star Diamond Corporation (“Star

Diamond” or the “Corporation”) is pleased to announce that Rio Tinto Explo ration Canada Inc (”RTEC”) have

completed the ten Cutter Soil Mixing (“CSM”) panels at the proposed trench cutter bulk sample positions on the

Star Kimberlite. As a result, the CSM rig and associated concrete plant have been demobilized from site. In

preparation for the trench cutter bulk sampling program , the Kimberlite Separation Unit (“KSU”) has been

delivered to site and is currently being assembled and commissioned. The KSU is designed to recover all

kimberlite fragments between 80 and 0.85 millim etres, from the slurry excavated by the trench cutter rig. This

washed kimberlite material will be collected in cubic metre bulk bags for delivery to Bulk Sample Plant (“BSP”) .

Impact Mechanical Services Ltd. of Prince Albert, Saskatchewan has been awarded the contract to assemble the

BSP, which was fabricated by Consulmet in South Africa in modular, containerized units. Unpacking and assembly

of the BSP is currently underway. All of these activities are taking place in the Fort à la Corne diamond district of

central Saskatchewan, Canada, on mineral dispositions held 100 percent by Star Diamond, in preparation for

RTEC’s bulk sample drilling program on the Star - Orion South Diamond Project. RTEC refers to Star Diamond’s

mineral dispositions in the Fort à la Corne diamond district as Project FalCon.

Senior Vice President Exploration and Development, George Read, states: “RTEC is in the process of assembling all

the components required for the proposed trench cutter bulk sampling program on the Star Kimber lite. Once

assembly and commissioning of the equipment has been completed, t rench cutter drilling and bulk sample

collection can commence . The trench cutter rig, KSU and BSP have all been designed to minimize diamond

breakage, due to the known coarse diamo nd size frequency distributions of the Star and Orion South kimberlites.

Star Diamond Corporation is encouraged by the level of activity on site and the pace at which tasks are being

completed in preparation for the bulk sample drilling program on the Corporation’s Star Kimberlite.”

Star Diamond Corporation is a Canadian based corporation engaged in the acquisition, exploration and

development of mineral properties. Shares of the Corporation trade on the TSX Exchange under the trading

symbol “DIAM”. The Corporation’s Fort à la Corne kimberlites (including the Star - Orion South Diamond Project ,

or “Project”) are located in central Saskatchewan in close proximity to established infrastructure, including paved

highways and the electrical power grid, which provide significant advantages for future mine development.

All technical information in this press release has been prepared under the supervision of George Read, Senior

Vice-President of Exploration and Development, a registered Professional Geoscientist in the Provinces of

Saskatchewan and British Columbia and Mark Shimell, Project Manager, a registered Professional Geoscientist in

the Province of Saskatchewan, who are the Corporation’s “Qualified Persons” under the definition of NI 43-101.

Caution Regarding Forward-Looking Statements

This news release contains forward -looking statements as defined by certain securities laws, including the "safe harbour" provisions of

Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward -looking information is often,

but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "intend", "forecast", "targ et", "project",

"guidance", "may", "will", "should", "could", "estimate", "predict " or similar words suggesti ng future outcomes or language suggesting an

outlook. In particular, statements regarding the Corporation's future operations, future exploration and development activities or oth er

development plans constitute forward- looking statements. B y their nature, statements referring to mineral reserves, mineral resources,

2

PEA or TFFE constitute forward -looking statements. Forward-looking statements contained or implied in this press release include, but are

not limited to, RTEC’s and the Corporation’s objectives for the ensuing year, including the proposed bulk sampling program.

These forward-looking statements are based on the Corporation's current beliefs as well as assumptions made by and information currently

available to it and involve inherent risks and uncertainties, both general and specific.

Risks exist that forward -looking statements will not be achieved due to a number of factors including, but not limited to, developments in

world diamond markets, changes in diamond prices, risks relating to fluctuatio ns in the Canadian dollar and other currencies relative to the

US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of the Corporation

or its partners, the effects of competition in the ma rkets in which the Corporation operates, the impact of changes in the laws and

regulations regulating mining exploration, development, closure, judicial or regulatory judgments and legal proceedings, oper ational and

infrastructure risks and the additional risks described in the Corporation's most recently filed Annual Information Form, annual and interim

MD&A. The Corporation's anticipation of and success in managing the foregoing risks could cause actual results to differ mate rially from

what is anticipated in such forward-looking statements.

Although management considers the assumptions contained in forward- looking statements to be reasonable based on information

currently available to it, those assumptions may prove to be incorrect. When making decisions with respect to the Corporation, investors

and others should not place undue reliance on these statements and should carefully consider the foregoing factors and other

uncertainties and potential events. Unless required by applicable securities law, the C orporation does not undertake to update any

forward-looking statement that is made herein.

For further information: [email protected] or (306) 664-2202

www.stardiamondcorp.com

- END -