Mr. William Lamb reports

LUCARA DIAMOND CORP. ANNOUNCES MANAGEMENT CHANGE

Zara Boldt has tendered her resignation as Lucara Diamond Corp.'s chief financial officer and corporate secretary, and Dr. John Armstrong has tendered his resignation as vice-president of technical services of the company. Ms. Boldt plans to step down, effective Dec. 29, 2023, and Dr. Armstrong plans to step down, effective Dec. 1, 2023. The Lucara team in Canada and Botswana will greatly miss Ms. Boldt's and Dr. Armstrong's leadership.

The chairman of the board, Paul Conibear, stated: "On behalf of our board, we would like to thank Zara and John for their hard work and dedication, and acknowledge their meaningful contributions to Lucara and the Karowe diamond mine. Over the last five years, Zara's leadership, consistent high standards and notable work ethic were exemplary, and we wish her the best in her next endeavours. John's technical expertise and hard work over the past 10 years has been integral to the successful planning, development and execution of mining at the Karowe diamond mine, including the recovery of some of the world's most historical stones, and we wish him the best in his next endeavours."

About Lucara Diamond Corp.

Lucara is a leading independent producer of large exceptional-quality Type 2a diamonds from its 100-per-cent-owned Karowe diamond mine in Botswana. The Karowe mine has been in production since 2012, and is the focus of the company's operations and development activities. Clara Diamond Solutions Limited Partnership, a wholly owned subsidiary of Lucara, has developed a secure, digital sales platform that uses proprietary analytics together with cloud and blockchain technologies to modernize the existing diamond supply chain, driving efficiencies, unlocking value and ensuring diamond provenance from mine to finger. Lucara has an experienced board and management team with extensive diamond development and operations expertise. Lucara and its subsidiaries operate transparently and in accordance with international best practices in the areas of sustainability, health and safety, environment, and community relations. Lucara has adopted the IFC Performance Standards and the World Bank Group's Environmental, Health and Safety Guidelines for Mining (2007). Accordingly, the development of the Karowe underground expansion project adheres to the Equator Principles. Lucara is committed to upholding high standards while striving to deliver long-term economic benefits to Botswana and the communities in which the company operates.