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Lithoquest Announces Termination of Acquisition Agreement

Mergers & Acquisitions

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NEWS RELEASE

December 3, 2019

TSX-V: LDI

Lithoquest Announces Termination of Acquisition Agreement

December 3, 2019 – Lithoquest Diamonds Inc. (TSX-V: LDI) (“Lithoquest” or the “Company”) today

reports the agreement, announced on October 29, 2019, to acquire 3,500 sq-km of Exploration Licences

in the North Kimberley region of Western Australia has terminated.

About Lithoquest Diamonds Inc.

Lithoquest is a Canadian diamond exploration company focused on the discovery and development of

economic diamond deposits on its 100% owned North Kimberley Diamond Project located in Western

Australia, approximately 65km east of the community of Kalumburu. The 100% owned land package covers

1,500 sq-km and is accessible by tidewater and a seasonal road. Lithoquest is led by experienced

management with a history of success in diamond exploration and development. During its first two years

in operation the C ompany rapidly advanced the NKDP in Western Australia with the discovery of the fist

kimberlites in the region in more than 20 years.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or

accuracy of this release.

For further information, please contact:

Lithoquest Diamonds Inc.

+1 (778) 373-1485

[email protected]