Lucara Diamond Corp. Announces Leadership Change
August 14, 2023
NEWS RELEASE
LUCARA DIAMOND CORP. ANNOUNCES LEADERSHIP CHANGE
VANCOUVER, August 14, 2023 /CNW/ (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm)
Lucara Diamond Corp. announces the intention to appoint William Lamb as the Company's President and Chief
Executive Officer and a director, replacing Ms. Eira Thomas.
Eira Thomas co-founded Lucara in 2007, with partners Lukas Lundin and Catherine McLeod-Seltzer. Ms. Thomas took
on the role of President and Chief Executive Officer of the Company in 2018. Ms. Thomas has been integral to the
development and success of the Company’s 100% owned Karowe Diamond Mine, which is the world’s leading source
of large exceptional quality Type IIa diamonds.
The Bo ard would like to acknowledge the special contributions that Eira has made over her many years of
involvement with Lucara in her capacity as a director , and specifically over the last five years as CEO. As CEO,
Ms. Thomas introduced an innovative diamond sales strategy for Lucara’s production of rough stones greater than
10.8+ carats though Lucara’s agreement with HB Antwerp, generating regular revenues on superior pricing terms.
Ms. Thomas also led the commercialization of Clara, a secure, digital diamond sales platform. More recently under
Ms. Thomas’s leadership, the Karowe Mine achieved peak operational performance and she and her team arranged
for a senior secured project financing debt package of $220 million enabling the underground expansion to advance.
William Lamb has over 25 years’ experience in mining project development and operations. William served as Chief
Executive Officer of Lucara Diamond Corp. from May 2011 to February 2018 . He also has prior diamond and other
mining company expertise gained through projects, process engineering and operations with De Beers, as well as
serving on several public mining company boards. During his original tenure at Lucara, William was responsible for
the highly successful construction of the original Karowe mine and its facilities . William’s prior experience is ideally
suited to advancing the Company’s key underground project to a successful completion.
Paul Conibear, Chair of Lucara’s board of directors stated, “On behalf of Lucara ’s Board of Directors, I would like to
thank Eira for her leadership and the integral role she has played in the success of the Karowe Diamond Mine. Eira’s
commitment, excellent team leadership skills, focus on operational excellence and her ability to see how innovation
and technology can be harnessed to strengthen our Company have been invaluable. Lucara has also benefited from
the deep ties Eira has made with the communities in which we operate and our stakeholders through her hard work
and foresight.”
Adam Lundin stated, “We are very grateful for Eira’s tremendous contribution to Lucara since its founding. She has
laid the groundwork for further value add at the Karowe Diamond Mine, for the benefit of all Lucara’s stakeholders.
We look forward to working with Eira on exploring options to maximize the value of Clara for all stakeholders. We
are very pleased to have William rejoin us and successfully lead the company once again.”
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For further information, please contact:
Hannah Reynish Investor Relations & Communications
+1 604 674 0272| [email protected]
Sweden Robert Eriksson, Investor Relations & Public Relations
+46 701 112615 | [email protected]
UK Public Relations Charles Vivian / Jos Simson, Tavistock
+44 778 855 4035 | [email protected]
ABOUT LUCARA
Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100% owned
Karowe Diamond Mine in Botswana. The Karowe Mine has been in production since 2012 and is the focus of the
Company’s operations and development activities. Clara Diamond Solutions Limited Partnership (“Clara”), a wholly-
owned subsidiary of Lucara, has developed a secure, digital sales platform that uses proprietary analytics together
with cloud and blockchain technologies to modernize the existing dia mond supply chain, driving efficiencies,
unlocking value and ensuring diamond provenance from mine to finger. Lucara has an experienced board and
management team with extensive diamond development and operations expertise. Lucara and its subsidiaries
operate transparently and in accordance with international best practices in the areas of sustainability, health and
safety, environment, and community relations. Lucara has adopted the IFC Performance Standards and the World
Bank Group’s Environmental, Health and Safety Guidelines for Mining (2007). Accordingly, the development of the
Karowe underground expansion project (“UGP”) adheres to the Equator Principles. Lucara is committed to upholding
high standards while striving to deliver long-term economic benefits to Botswana and the communities in which the
Company operates.
The information is information that Lucara is obliged to make public pursuant to the EU Market Abuse Regulation
and the Swedish Securities Markets Act. This information was submitted for publication, through the agency of the
contact person set out above, on August 14, 2023 at 2:30pm 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 be 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 express ed 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 accurate and such forward-looking information included herein should
not be unduly relied upon.
In particular, forward -looking information and forward -looking statements may include, but are not limited to,
statements regarding the development of the Karowe Underground Project, its life of mine and projected revenues.
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There can be no assurance that such forward looking statements will prove to be accurate, as the Company's results
and future events could dif fer 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, both available at http://ww w.sedar.com, as well as changes in general business and
economic conditions, the ability to continue as a going concern, changes in interest and foreign currency rates,
changes in inflation, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds,
costs of power and diesel, impacts of potential disruptions to supply chains, acts of foreign governments and the
outcome of legal proceedings, inaccurate geological and recoverability assumptions (including with respect t o 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.