REG-Karelian Diamond Res.: Lahtojoki - National Land Survey proceedings

Karelian Diamond ResourcesAnnouncement

24/11/2022 07:15

Karelian Diamond Resources plc

(“Karelian Diamonds” or “the Company”)

24 November 2022

LAHTOJOKI DIAMOND DEPOSIT – NATIONAL LAND SURVEY PROCEEDINGS
* Date set (14 December 2022) for National Land Survey Proceedings
* Land Survey Proceedings an essential step in mining concession process in
Finland
Karelian Diamond Resources PLC (AIM: KDR) is pleased to announce that, further
to the most recent announcement on 6 October 2022, the National Land Survey of
Finland proceedings meeting in relation to the Lahtojoki diamond deposit will
be held on 14 December 2022.

A mining concession over the Lahtojoki diamond deposit has already been
approved by TUKES (the Finnish Mining authority).  The National Land Survey
of Finland, on the order of TUKES, is carrying out the proceedings to
establish the mining concession for the applied area.  The process has
involved a series of public meetings in relation to ground rental compensation
for local landowners.  By early 2020 the process had reached an advanced
stage but was then delayed by the onset of the COVID-19 pandemic and
consequent restrictions on holding public meetings.

The Lahtojoki diamond mining project comprises a mining concession covering 71
hectares (c.176 acres) which includes a kimberlite pipe over a surface area of
16 hectares (c.40 acres).

The Lahtojoki diamond deposit, as well as containing high quality colourless
gem diamonds, also contains coloured diamonds including pink diamonds which
are highly sought after and can command prices up to 20 times that of normal
coloured diamonds.

Further announcements will be made in due course.

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

“I am delighted that a firm date has been set for the Land Survey Process
and that we may now look forward to progressing the mining concession in
relation to the Lahtojoki diamond deposit.”

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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