Lucara Announces Completion of Its Diamond Recovery Capital Projects
NEWS RELEASE
LUCARA ANNOUNCES COMPLETION OF ITS DIAMOND RECOVERY
CAPITAL PROJECTS
SEPTEMBER 11, 2017 (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) … Lucara Diamond Corp.
(“Lucara” or the “Company”) is pleased to announce the completion of the Mega Diamond Recovery (“MDR”)
and the Sub-middles XRT capital projects within budget and ahead of schedule.
The Company’s MDR circuit treats material in the size range between 50mm and 120mm and is located directly
post the primary crusher and ahead of the process plant. This design maximizes the upfront recovery of
exceptional diamonds prior to the comminution processes where diamond damage may occur and revenue lost.
Commissioning of the circuit has been completed and the system has been integrated into the existing process
stream.
The sub-middles XRT circuit processes material in the size range between 4mm and 8mm. The sub-middles
circuit has replaced the need for a dense medium circuit and five diamond recovery unit processes for treating
diamonds within this size fraction. The commissioning of the circuit has been completed and verification of the
diamonds recovered within this size frequency distribution is being confirmed against historical recoveries.
William Lamb, President and CEO, commented, "The commissioning of the MDR and Sub-middles XRT
circuits advances the Company’s ability to efficiently recover its diamonds and maximize value for its
exceptional diamonds. The Sub-middles XRT circuit cost effectively processes the variable yield material from
the south lobe through the utilization of a single unit process which reduces feed to the more costly
concentration and recovery processing units. The completion of these two capital projects concludes our major
capital expenditures for upgrading the process facilities, all of which have been funded from internal cashflows.”
Lucara further announces the launch of its virtual reality website. A site tour can be facilitated through the web
portal: http://www.lucara360.com/tour/
On behalf of the Board,
William Lamb
President and CEO
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For further information, please contact:
Lucara Investor & Public Relations +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]
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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 extensi ve
diamond development and operations expertise. The Company operates transparently and in accordance with
international best practices in the areas 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 September 11, 2017 at 2:00 p.m. Pacific Time.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Certain of the statements made and contained herein in the press release and else where 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 be achieved.
In particular, this press release may contain forward looking information pertaining to the fol lowing: the
estimates of the Company’s mineral reserves and resources; estimates of the Company’s production and
sales volumes for the Karowe Mine; estimated costs for capital expenditures related to 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 rates; expectations regarding the need to raise capital; possible impacts of disput es or litigation;
and other risks and uncertainties described under the heading “Risks and Uncertainties” in the Company’s
most recent Annual Information Form available at http://www.sedar.com (the “AIF”).
Forward-looking statements are based on the opinions, assumptions 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, per formance or achievements of the
Company to be materially different from any future results, performance or achievement expressed or
implied by such forward-looking statements. Such assumptions include: the Company’s ability to obtain
necessary financing; the Company’s expectations regarding the economy generally, results of operations
and the extent of future growth and performance; and assumptions that the Company’s activities will not be
adversely disrupted or impeded by development, operating or regulato ry risk. 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 in this press
release should not be unduly relied upon.
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 “Risks and Uncertainties” in the Company’s AIF,
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 and availability 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
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and recoverability of mineral reserves and resources) and 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, government action or delays in the receipt of
government approvals, industrial disturbances or other job actions, adverse weather conditions, regulatory
or environmental changes resulting from global climate change 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.