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LUC.TO ·

Lucara Announces Declaration of Quarterly Dividend

Corporate Actions

NEWS RELEASE

LUCARA ANNOUNCES DECLARATION OF QUARTERLY DIVIDEND

November 8, 2018 Vancouver, British Columbia (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) Lucara Diamond

Corp. (“Lucara” or the “Company”) is pleased to announce that the Board of Directors has declared the fourth quarterly

dividend of 2018 of CDN 2.5 cents per share to be payable Thursday, December 20, 2018 to the shareholders of record

at the close of business on Friday, December 7, 2018.

The declaration, timing, amount and payment of future dividends remains at the discretion of the Board of Direct ors

and is subject to the requirements of the Company’s dividend policy.

On behalf of the Board,

Eira Thomas

President and Chief Executive Officer

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For further information, please contact:

Investor and Public Relations +1 604 678-5834, [email protected]

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

UK: Ellen Wilton, Citigate Dewe Rogerson +44 (0)20 7282 2849 [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 areas of sustainability, health and safety, environment and community relations.

ABOUT CLARA

Clara Diamond Solutions (Clara), wholly owned by Lucara Diamond Corp, is a sec ure, digital sales platform that uses

proprietary analytics together with cloud and blockchain technologies to modernize the existing diamond supply chain,

driving efficiencies, unlocking value and ensuring diamond provenance from mine to finger.

The information in this release is accurate at the time of distribution but may be superseded or qualified by subsequent

news releases.

This information was publicly communicated on November 8, 2018 at 4:00 p.m. Pacific Time.

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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 be achieved.

There can be no assurance that such forward looking 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 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 respe ct to the size, grade 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, 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.