Lucara Recovers Record 1,758 Carat Diamond from Karowe
April 25, 2019
PRESS RELEASE
LUCARA RECOVERS RECORD 1,758 CARAT DIAMOND FROM KAROWE
VANCOUVER, April 25, 2019/CNW/ - (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm)
Lucara Diamond Corp. (“Lucara” or the “Company”) is pleased to announce the recovery of a
1,758 carat diamond (pictures attached) from its 100% owned Karowe Diamond Mine located
in Botswana. One of the largest diamonds in recorded history, the largest diamond recovered
in Botswana, and the largest diamond to be mined at Karowe to date, the unbroken 1,758 carat
stone was recovered through Lucara’s state of the art XRT circuit, commissioned in April 2015.
Weighing close to 352 grams and measuring 83mm x 62mm x 46mm, the diamond has been
characterized as near gem of variable quality, including domains of high -quality white gem.
Further detailed analysis is ongoing.
Since commissioning of the XRT circuit in 2015 , a total of 12 diamonds in excess of 300 carats
have been recovered at Karowe, including 2 greater than 1,000 carats, from a total production
of approximately 1.4 million carats . Of the 12 +300 carat diamonds recovered , 50% were
categorized as gem quality with 11 sold to date generating revenue in excess of US$158 million.
Eira Thomas , Lucara’s CEO commented: “ Lucara’s technologically advanced, XRT diamond
recovery circuit has once again delivered historic results. Karowe has now produced two
diamonds greater than 1 ,000 carats in just four years , affirming the coarse nature of the
resource and the likelihood of recovering additional, large, high quality diamonds in the future,
particularly as we mine deeper in the orebody and gain access to the geologically favourable
EM/PK(S) unit, the source of both of our record breaking, +1,000 carat diamonds.”
This press release has been reviewed and approved by Dr. John Armstrong, Ph.D. P.Geol., Vice-
President, Technical Services of the Company and a "Qualified Person" for the purposes of
National Instrument 43-101.
On behalf of the Board,
Eira Thomas
President and Chief Executive Officer
Follow Lucara Diamond on: Facebook, Twitter, Instagram and LinkedIn
For further information, please contact:
Investor Relations & Public Relations +1 604 689 7842 [email protected]
Sweden: Ulrika Häggroth, Investor Relations +46 70 298 6001 [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
2
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.
This information is information that the Company 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 April 25,
2019 at 8:25am 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, perf ormance 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 accurate and such forward-
looking information included herein should not be unduly relied upon. In particular, this release
contains forward looking information pert aining to the recovery of a 1,758 carat diamond, the
characterizations of that stone as a complex diamond of variable colour and quality, including
visible domains of white diamond. In addition, this release contains forward looking statements
with respect to management’s expectations about the likelihood of recovering additional, high
quality diamonds from the Karowe Mine in the future. The value of the Company's shares, its
financial results and its mining activities are significantly affected by the price and marketability
of the diamonds recovered. The sales price of a diamond is determined by its
characteristics. While the Karowe Diamond Mine has produced a number of large, high -value
diamonds in excess of 100 carats, there is no assurance that the diamonds recovered which are
100 carats or larger will have the characteristics required to achieve a high sales price.
There can be no assurance that such forward looking statements will prove to be accurate, as
the Company's results and future events cou ld 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 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 materials and equipment, government action or delays in the
3
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.