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LUC.TO ·

Lucara Annual General & Special Meeting

Shareholder Meetings

NEWS RELEASE

LUCARA ANNUAL GENERAL & SPECIAL MEETING

TO BE HELD MAY 11, 2017

April 12, 2017 (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) Lucara Diamond Corp. ("Lucara" or the

"Company") announces that its Annual General and Special Meeting of Shareholders will be held at Suite 2600,

Pacific Boardroom, 595 Burrard Street, Vancouver, British Columbia, V7X 1L3 on Thursday, May 1 1, 2017, at

10:00 a.m. (Vancouver time), for the following purposes:

1. to receive the consolidated audited financial statements for the year ended December 31, 2016,

together with the report of the auditors;

2. to reappoint PricewaterhouseCoopers LLP as auditor of the Company for the upcoming year and to

authorize the directors to fix their remuneration;

3. to elect directors to the Board for the upcoming year;

4. to adopt an advisory resolution on executive compensation;

5. to pass a special resolution to adopt amended and restated Articles for Lucara as described in the

Management Proxy Circular; and

6. to transact such further or other business as may properly come before the Meeting.

The record date for the Annual General and Special Meeting is April 06, 2017. The Notice of Meeting, the

accompanying Management Proxy Circular and related meeting materials are now available under the

Company's profile on SEDAR at www.sedar.com and on the Company’s website.

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:

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

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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 April 12, 2017 at 2:45 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 achievements 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 s 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 rate; expectations regarding the need to raise capital; possible

impacts of disputes or litigation and other risks and uncertainties describe under “Risks and Uncertainties” as

disclosed in the Company’s most recent 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 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 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 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 materia ls 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.