The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ("MAR").
Karelian Diamond Resources plc
("Karelian" or "the Company")
31 January 2017
DIAMOND DISCOVERY IN FINLAND
* Diamond Discovery in Till Sample in Eastern Finland
* The Diamond is a Clear, Pale Green Dodecahedron and Measures 0.7 x 0.75 x
0.7 mm
* High Concentrations Of Kimberlitic Indicator Minerals Discovered in
Association
Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), is pleased
to announce that it has received results from sampling undertaken by the
Geological Survey of Finland ("GTK") on behalf of the Company. A diamond was
discovered in one of seven samples from the Kuhmo region of Eastern Finland.
The diamond is a clear, pale green dodecahedron and measures 0.7 x 0.75 x 0.7
mm. To put the rarity of this discovery in context, ODM Laboratory* has
processed more than 50,000 exploration till samples and has recovered less than
10 naturally occurring diamonds. This is a very rare and significant discovery.
This is significant because the diamond discovery allied with high
concentrations of Kimberlitic Indicator Minerals ("KIMs") discovered in the
area strongly suggest that a diamondiferous kimberlite is present.
The KIMs include 13 purple to red peridotitic garnets (G9/10 Cr-pyrope), 3
orange mantle garnets, 2 Cr-diopside and 178 chromite grains in the 0.25 to 0.5
mm size range, plus 1 purple to red peridotitic garnet (G9/10 Cr-pyrope) and 6
chromite grains in the 0.5 to 1.0 mm size range.
These samples will go for further analysis.
*ODM Laboratory holds a Certificate of Authorization from the Association of
Professional Geoscientists of Ontario and is used by diamond explorers in all
parts of Canada and the world. During the Canadian diamond rush of the 1990s
and early 2000s, ODM contributed to many kimberlite discoveries by processing
and logging more than 50,000 samples.
This release has been approved by Kevin McNulty PGeo, who is a member of the
Company's technical staff and holds a BSc/MSc in Geology and Remote Sensing, in
accordance with the guidance note for Mining, Oil & Gas Companies issued by the
London Stock Exchange in respect of AIM Companies, which outlines standards of
disclosure for mineral projects.
Professor Richard Conroy, Chairman, Karelian Diamond Resources plc commented:
"This is very exciting news to find such a diamond in till which is a very rare
event and makes me very excited about the potential of the area and the
discovery of the source of this diamond."
Further Information:
Professor Richard Conroy, Chairman, Karelian Diamond Tel: +353-1-661-8958
Resources plc
David Hart / James Thomas / Nick Harriss, Allenby Tel: +44-20-3328-5656
Capital Limited (Nomad)
Ger Heffernan / Jan Fitzell, IBI Corporate Finance Tel: +353-7662-34800
Limited (ESM Adviser)
Jon Belliss / Elliot Hance, Beaufort Securities Tel: +44-20-7382-8300
Limited (Broker)
Michael Padley, Lothbury Financial Services Limited Tel: +44-20-3290-0707
Don Hall, Hall Communications Tel: +353-1-660-9377
www.kareliandiamondresources.com