REG-Karelian Diamond Res.: Mineral prospecting licences granted in Northern Ireland

Karelian Diamond ResourcesAnnouncement

06/10/2022 11:30

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

Karelian Diamond Resources plc

(“Karelian Diamonds” or “the Company”)

6 October 2022

MINERAL PROSPECTING LICENCES GRANTED IN NORTHERN IRELAND
* Two licences covering approximately 500km(2) granted
* Total licence area now approximately 750km(2)
* Indications of possible presence of Nickel-Copper-Platinum Mineralisation in
licence area
UPDATE ON LAHTOJOKI DIAMOND MINE DEVELOPMENT

Karelian Diamond Resources plc (“Karelian Diamonds”) (AIM: KDR) is pleased
to state that the Company’s applications for two additional Mineral
Prospecting Licences in Northern Ireland have been granted. The licences were
applied for to allow us to explore for the presence of Nickel-Copper-Platinum
mineralisation.

The licences, KDR-2 and KDR-3, are valid for a period of six years, and cover
an area of approximately 500km(2) and are adjacent to the Company’s existing
KDR-1 licence, giving a total exploration area of approximately 750km(2.)  

The licences were applied for following the discovery, on the KDR-1 licence,
of indicator minerals, including anomalous amounts of chromite, forsterite
olivine and magmatic massive sulphide indicator minerals (MMSIMs), which are
indicative of the possible presence of Nickel-Copper-Platinum mineralisation.

Ireland is already an established mining area, with a world class zinc mine,
Tara, and other major zinc/lead discoveries in the Lower Carboniferous
limestones, together with a series of significant orogenic gold discoveries in
both Northern Ireland and the Republic of Ireland.

The exploration targets are based on the mafic and/or ultramafic dyke-sill
complexes in the area which are similar to those that are known to host the
world class Noril’sk Nickel-Copper-Platinum deposit.

In relation to the Company’s Lahtojoki Diamond Deposit the Company was
informed yesterday by the Land Registration Office that it is their aim to
hold the public closing meeting before the end of the calendar year and that
they will be in contact when the precise timetable is known. A further
announcement will be made by the Company when further information becomes
available.

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

“I am very pleased that both these prospecting licences adjacent to the
KDR-1 licence in Northern Ireland have been granted to the Company and look
forward to what could be a highly exciting period leading to the discovery of
Nickel-Copper-Platinum mineralisation in the area.”

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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