Mr. William Lamb reports

LUCARA ANNOUNCES RECOVERY OF 166 CARAT TYPE IIA DIAMOND FROM THE KAROWE MINE IN BOTSWANA

Lucara Diamond Corp. has recovered a 166-carat diamond from its 100-per-cent-owned Karowe diamond mine located in Botswana. The diamond is described as a Type 2a gem, recovered in the Coarse XRT unit at Karowe from direct milling of ore sourced from the M/PK(S) unit of the South lobe.

William Lamb, chief executive officer, commented: "Lucara is pleased to announce the ongoing recovery of large, high-quality diamonds from the Karowe mine. This diamond is the 328th stone over 100 carats since we commenced mining in 2012. This latest recovery further supports the economic rationale for investing in the underground expansion project that will extend mine life to at least 2040."

This press release has been reviewed and approved by Dr. John Armstrong, PhD, PGeol, vice-president, technical services, of the company, and a qualified person for the purposes of National Instrument 43-101.

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.

We seek Safe Harbor.