Mr. William Lamb reports

LUCARA ANNOUNCES AFRICAN DIAMOND SHAREHOLDER APPROVAL OF PLAN OF ARRANGEMENT

Lucara Diamond Corp. has learned that African Diamonds PLC shareholders approved the previously announced plan of arrangement (see Lucara news release in Stockwatch on Oct. 4, 2010) at a special general meeting held in London on Nov. 26, 2010, voting 98.2 per cent in favour of the transaction.

Pursuant to the plan of arrangement, Lucara will acquire all of the issued and outstanding shares of AFD on the basis of 0.80 of a common share of Lucara for each AFD common share by way of an English-court-approved scheme of arrangement. Upon closing of the acquisition, Lucara will hold a 100-per-cent interest in the AK6 project, an advanced, high-value diamond development project located in the Orapa/Letlhakane kimberlite district of Botswana.

The acquisition is expected to close before the end of 2010, subject to the sanction of the English courts and all applicable regulatory approvals, including approval of the TSX Venture Exchange, AIM and the satisfaction of certain closing conditions customary in transactions of this nature.