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LUC.TO ·

Lucara Announces Declaration of Quarterly Dividend

Corporate Actions

NEWS RELEASE

LUCARA ANNOUNCES DECLARATION OF QUARTERLY DIVIDEND

VANCOUVER, BRITISH COLUMBIA – (Marketwired – May 8, 2018 ) - Lucara Diamond

Corp. ("Lucara" or the "Company") (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC) is

pleased to announce that the Board of Directors has declared the second 2018 quarterly dividend of

CDN 2.5 cents per share to be payable Thursday, June 21, 2018 to the shareholders of record at the

close of business on Friday, June 8, 2018.

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

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

On behalf of the Board,

Eira Thomas

Chief Executive Officer

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For further information, please contact:

Lucara: Investor 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]

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.

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About Clara

Clara Diamond Solutions (Clara), wholly owned by Lucara Diamond Corp, is a secure, 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The information in this release is accurate at the time of distribution but may be superseded or qualified by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 May 8, 2018 at 6:00 p.m. Pacific Time.