Lucara Share Capital and Voting Rights Update

NEWS RELEASE

LUCARA SHARE CAPITAL AND VOTING RIGHTS UPDATE

May 31, 2017 (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) Lucara Diamond Corp. ("Lucara" or

the "Company") reports the following in accordance with the Swedish Financial Instruments Trading Act:

As a result of the exercise of employee stock options from May 1, 2017 to date , the number of issued and

outstanding shares of the Company has increased to 382,569,334 common shares with voting rights as at

May 31, 2017.

William Lamb

President and CEO

Lucara Diamond on Facebook: https://www.facebook.com/LucaraDiamond/

Lucara Diamond on Twitter: https://twitter.com/LucaraDiamond

Lucara Diamond on LinkedIn: https://www.linkedin.com/company/lucara-diamond-corp-

Lucara Diamond on Google+: https://plus.google.com/+LucaradiamondCorporation

Lucara Diamond on Instagram: https://www.instagram.com/lucaradiamond/

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 independe nt 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 transparentl y 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The information in this release is accurate at the time of distribution but may be superseded or qualified by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

Swedish Financial Instruments Trading Act . This information was publicly communicated on May 31, 2017 at

2:45 p.m. Pacific Time.