REG-Karelian Diamond Res.: Nickel Prospecting Licences Applied for in N.I

Karelian Diamond ResourcesAnnouncement

10/03/2022 07:15

Karelian Diamond Resources plc

(“Karelian Diamonds” or “the Company”)

10 March 2022

NICKEL PROSPECTING LICENCES APPLIED FOR IN NORTHERN IRELAND
* Applications by Karelian Diamonds follow results from a sampling programme
that are indicative of the presence of Nickel-Copper-Platinum Mineralisation
* Two licences applied for covering an area of approximately 500km(2)
* Exploration programme to target Magmatic Sulphide rich
Nickel-Copper-Platinum mineralisation
Karelian Diamond Resources plc (AIM: KDR) is pleased to announce that it has
applied for two further prospecting licences in Northern Ireland. The
applications follow results received from the Company’s stream sediment
sampling programme in its KDR-1 licence (details of which were announced by
the Company on 10 November 2021).

The programme was designed as part of the Company’s diamond exploration
programme in the area, but also to investigate the possible presence of
Nickel-Copper-Platinum mineralisation. The presence of Nickel-Cooper-Platinum
mineralisation does not preclude the presence of diamondiferous materials.

The results showed indicator minerals, including anomalous amounts of
chromite, forsterite olivine and metamorphosed / magmatic massive sulphide
indicator minerals (MMSIMs) which are indicative of the presence of
Nickel-Copper-Platinum mineralisation.

These results have now been combined with other geological and geochemical
data including the Northern Ireland TELLUS survey and, in the Company’s
view, support the possibility of Nickel-Copper-Platinum mineralisation in the
area.

The prospecting licences which have been applied for cover an area of
approximately 500km(2) adjacent to the Company’s existing KDR-1 licence.
 An exploration programme for Nickel-Copper-Platinum is being prepared.

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

“It is not unknown for Nickel-Copper-Platinum mineralisation to be
discovered during the course of a diamond exploration programme, the most
well-known example being the Voisey Bay Nickel discovery in Canada, and we are
optimistic that this could be true here.

Nickel is in increasingly high demand due to its crucial importance to energy
transition and is in very short supply, further aggravated by recent world
events.

I look forward very much to the expansion of the Company’s exploration
programme into Nickel-Copper-Platinum.”

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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