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LUC.TO ·

Lucara Corporate Update

Share Capital & Compensation

NEWS RELEASE

LUCARA CORPORATE UPDATE

June 8, 2010 (LUC – TSXV) … Lucara Diamond Corp. (“Lucara” or the “Company”) reports that it has granted 200,000 incentive stock options to a director of the Company. The options are exercisable over a period of three years at a price of $0.83 per share and are subject to vesting provisions, and a hold period expiring October 9, 2010.

On Behalf of the Board,

William Lamb President and COO

For further information, please contact:

Sophia Shane, Corporate Development (604) 689-7842

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.