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LUC.TO ·

Lucara 2017 First Quarter Results

Financials

NEWS RELEASE

LUCARA 2017 FIRST QUARTER RESULTS

TO BE RELEASED TUESDAY, MAY 2, 2017

April 18, 2017 (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) … Lucara Diamond Corp. (“Lucara” or

the “Company”) is pleased to announce that it will be publishing its 2017 First Quarter results on Tuesday, May

2, 2017, after the market close in North America.

The Company will host a conference call to discuss the results on Wednesday, May 3, 2017, at 6:00 a.m.

Pacific, 9:00 a.m. Eastern, 3:00 p.m. CET.

Please call in 10 minutes before the conference call starts and stay on the line (an operator will be available to

assist you).

Conference ID: 10785045 / Lucara Diamond

Dial-In Numbers:

Toll-Free Participant Dial-In North America: +1-844-892-6587

All International Participant Dial-In: +1-661-378-9938

To view the live webcast presentation, please log on using this direct link:

http://edge.media-server.com/m/p/p7th2zz8

The presentation slideshow will also be a vailable in PDF format for download from the Lucara website

www.lucaradiamond.com before the conference call.

A replay of the telephone conference will be available two hours after the completion of the call until May 10,

2017.

Replay number (Toll Free North America): +1-855-859-2056

Replay number (International): +1-404-537-3406

The pass code for the replay is: 10785045

On behalf of the Board,

William Lamb

President and CEO

Lucara Diamond on Facebook

Lucara Diamond on Twitter

Lucara Diamond on Google+

Lucara Diamond on Instagram

For further information, please contact:

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Tanuja Skerlec, Manager IR & PR +1 (604) 689-7842, [email protected]

Sweden: Robert Eriksson, Investor Relations +46 701-112615, [email protected]

UK: Louise Mason, Citigate Dewe Rogerson +44 (0)20 7282 2932 [email protected]

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 are as 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The information in this release is accurate at the time of distribution but may be superseded or qualified by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 Lucara Diamond Corp. under the EU

Market Abuse Regulation and the Swedish Securities Markets Act. This information was publicly communicated

on April 18, 2017 at 2:30 p.m. Pacific 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 achieved.

Forward looking statements are based on the opinions and estimates of management as of the date such

statements are made, and they are subject to a number of known and unknown risks, uncertainties and

other factors which may cause the actual results, performance or achi evements 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 correct

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 following: the estimates of the Company’s

mineral reserve and resources; estimates of the Company’s production and sales volumes for the Karowe

Mine; estimated costs to construct the Karowe Mine, start -up, exploration and development plans and

objectives, production costs, exploration and development expenditures and reclamation costs; expectation

of diamond price and changes to foreign currency exchange rate; expectations regarding the need to raise

capital; possible impacts of disputes or litigation and other risks and uncertainties describe under Risks and

Uncertainties disclosed in the Company’s Annual Information Form.

There can be no assurance that such 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 “Risk Factors’ 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),

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,

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government action or delays in the receipt of government approvals, indus trial 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.