Lucara recovers 62-carat “Boitumelo” fancy pink diamond from Karowe mine in Botswana


VANCOUVER, BC, July 13, 2021 / CNW / – (TSX: LUC) (ESB: LUC) (Nasdaq Stockholm: LUC)

Lucara Diamond Corp. (“Lucara” or the “Company”) is pleased to announce the recovery of a 62.7 carat fancy pink diamond from its 100% owned Karowe diamond mine located at Botswana (attached image). The diamond received the name of “Boitumelo” which means “Joy” in Setswana. This impressive diamond measuring 26x17x16mm is described as a high quality type IIa fancy pink gemstone and was recovered through direct ore grinding from the South Lobe EM / PK (S) unit. A stunning 22.21 karat fancy pink gem of similar quality was also recovered during the same production period, along with two other pink gems of similar color and purity weighing 11.17 and 5.05 carats (image attached ). The 62.7-carat Boitumelo diamond represents the largest fancy pink gemstone ever to be recovered in Botswana and one of the largest rough pink diamonds on record. See the PDF version.

Eira Thomas, CEO, said: “Lucara is delighted to announce yet another historic diamond with the recovery of the Boitumelo, and very happy to demonstrate the continued potential of large colored diamonds from the South Lobe production. These remarkable pink diamonds join a collection of diamond recoveries in 2021 produced from EM / PK (S) which is a key economic driver for the proposed underground mine at Karowe. “

This press release has been reviewed and approved by Dr. John armstrong, Ph.DPGeol., Vice-President, Technical Services of the Company and a “Qualified Person” for the purposes of National Instrument 43-101.

Eira Thomas
President and CEO
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ABOUT LUCARA
Lucara is a leading independent producer of exceptional quality large Type IIa diamonds from its 100% owned Karowe mine at Botswana and owns a 100% stake in Clara Diamond Solutions, a secure digital sales platform positioned to modernize the existing diamond supply chain and ensure the provenance of diamonds from mine to finger. The Company has an experienced board of directors and management team with extensive expertise in diamond development and mining. The Company operates transparently and in accordance with international best practices in the areas of sustainability, health and safety, the environment and community relations.

The information in this press release is correct at the time of distribution, but may be superseded or qualified by subsequent press releases.

This information is information that the Company is obliged to make public in accordance with the EU Market Abuse Regulation. The information has been submitted for publication, through the indicated contact persons, to 2:30 p.m. Pacific time at July 13, 2021.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain of the statements made and contained herein and elsewhere constitute forward-looking statements as defined in applicable securities laws. Generally, such forward-looking statements can be identified by the use of forward-looking terms such as “expects”, “anticipates”, “believes”, “intends”, “believes”, “possible”, ” possible ”and similar expressions, or statements that events, conditions or results“ will ”,“ may ”,“ could ”or“ should ”occur or be achieved.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to a number of known and unknown risks, uncertainties and other factors that may cause the results. actual, performance or achievements of the Company is materially different from any future result, performance or achievement expressed or implied by these forward-looking statements. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that such expectations will prove to be correct and the forward-looking information included herein should not be unduly relied upon. The value of the Company’s shares, its financial results and its mining activities are significantly affected by the price and market value of the diamonds recovered. The selling price of a diamond is determined by its characteristics, including color. Although pink diamonds are relatively rare, there can be no assurance that the pink diamonds recovered from the Karowe Diamond Mine will have the characteristics required to achieve a high selling price.

There can be no assurance that these forward-looking statements will prove to be correct, as the Company’s results and future events could differ materially from those anticipated in such forward-looking information due to the factors discussed or mentioned under the section “Risks and Uncertainties” in the most recent annual information form of the Company available at http://www.sedar.com, as well as changes in general business and economic conditions, changes in interest rates and exchange rates, the offering and demand, deliveries and the level and volatility of rough diamond prices, electricity and diesel costs, foreign government actions and the outcome of legal proceedings, inaccurate geological and recovery assumptions (including regarding the size, grade and recoverability of mineral reserves and resources), and unforeseen operational difficulties (including failure of facilities, equipment or processes to operate in accordance with specifications or expectations, escalating costs, unavailability of materials and equipment, government action or delays in receiving government approvals, industrial disruption or other professional actions , adverse weather conditions and unforeseen events related to health safety and the environment).

Therefore, readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date on which the statements were made, and the Company assumes no obligation to update or update them. revise to reflect new events or circumstances, except as required by law.

62 carats (CNW Group / Lucara Diamond Corp.)

Pink diamonds (CNW Group / Lucara Diamond Corp.)

Pink diamonds (CNW Group / Lucara Diamond Corp.)

Lucara recovers a fancy 62-carat pink diamond "Boitumelo"  From the Karowe mine in Botswana (CNW Group / Lucara Diamond Corp.)

Lucara recovers a 62-carat “Boitumelo” fancy pink diamond from the Karowe mine in Botswana (CNW Group / Lucara Diamond Corp.)

SOURCE Lucara Diamond Corp.

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