REG-Karelian Diamond Res.: Lahtojoki Diamond Mine Development Update

Karelian Diamond ResourcesAnnouncement

01/06/2022 15:15

Karelian Diamond Resources plc

(“Karelian Diamonds” or “the Company”)

1 June 2022

LAHTOJOKI DIAMOND MINE DEVELOPMENT UPDATE
* Land Survey final meeting rescheduled to end of summer / beginning of autumn
* Delay due to Covid-19 and workload on National Survey of Finland
Karelian Diamond Resources plc (AIM: KDR) has been informed by the National
Land Survey of Finland that the final meeting in relation to the Company’s
diamond mine development at Lahtojoki has been delayed and it is not now
likely to be held until the end of summer or the beginning of autumn 2022.

The National Land Survey has stated that the delay in holding the final
meeting and the processing of the proceedings is caused by the impact of the
Covid-19 situation in previous years and also the workload of the National
Land Survey. The delay is not in any way due to Karelian Diamonds and the Land
Survey has stated that it will be in contact with the Company when the date
for the final meeting is confirmed.  A Mining Concession over the Lahtojoki
diamond deposit has already been approved by TUKES (The Finnish Mining
Authority).  

The Company will provide a further update when further information becomes
available. In the meantime the Company’s diamond exploration programme in
Finland continues.

Professor Richard Conroy, Chairman of Karelian Diamond Resources plc,
commented:

“Clearly we would like to have news of the meeting date as soon as possible,
so that the Company can progress with the development of the Lahtojoki Diamond
Deposit, particularly in view of the increasing demand for coloured stones
such as those present in the deposit.

Elsewhere in Finland the Company’s exploration programme is increasingly
encouraging.”

Further Information:

 Karelian Diamond Resources plc  Professor Richard Conroy, Chairman  +353-1-479-6180   
 Allenby Capital Limited (Nomad)  Nick Athanas / Nick Harriss        +44-20-3328-5656  
 First Equity Limited (Broker)  Jason Robertson                      +44-20-7330-1883  
 Lothbury Financial Services  Michael Padley                         +44-20-3290-0707  
 Hall Communications  Don Hall                                       +353-1-660-9377   

http://www.kareliandiamondresources.com



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