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Lithoquest Diamonds Inc. Announces Stock Option Grant

Share Capital & Compensation

NEWS RELEASE

December 17, 2018

TSX-V: LDI

Lithoquest Diamonds Inc. Announces Stock Option Grant

VANCOUVER, B.C., December 17, 2018 – Lithoquest Diamonds Inc. (TSX-V: LDI) (“Lithoquest”, or the

“Company”) today announces it has granted incentive stock options to certain of its directors, officers and

consultants to purchase up to an aggregate of 1,040,000 common shares of the Company (the

“Options”). The Options are exercisable for a period of five years, at a price of $0.16, being the closing

price of the Lithoquest common shares on the TSX Venture Exchange on December 14th, the last trading

day prior to the date of the grant. All Options were granted in accordance with the Company’s stock

option plan.

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.

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]