REG-Karelian Diamond Res.: Twenty Three Kimberlite Targets Identified

Karelian Diamond ResourcesAnnouncement

07/06/2022 07:15

Karelian Diamond Resources plc

(“Karelian Diamonds” or “the Company”)

7 June 2022

TWENTY THREE KIMBERLITE TARGETS IDENTIFIED UP-ICE OF DIAMOND DISCOVERY
* Geophysical interpretation of drone based aeromagnetic data identifies
twenty three kimberlite targets
* Targets located up-ice of previous green diamond discovery in till
* Several targets are estimated to be over four hectares in size
Karelian Diamond Resources plc (AIM: KDR) is pleased to announce that the
geophysical interpretation of drone based aeromagnetic data has identified
twenty three Kimberlite targets up-ice of the green diamond discovery in till
previously made by the Company (announced by the Company on 31 January 2017).

Karelian Diamonds has retained Jeremy S. Brett International Consulting Ltd.
(”Jeremy S. Brett Consulting”) to interpret the drone aeromagnetic data on
the licence property where the green diamond was discovered in the Kuhmo
region of Eastern Finland.  Mr. Brett, the founder and principal of Jeremy S.
Brett  Consulting , is a senior geophysical consultant, with over 28 years of
mineral exploration experience in most types of geophysics in a wide variety
of ore deposit settings.  He has explored extensively for kimberlites in
Africa, North America and South America.

A detailed high resolution drone based magnetic survey was carried out by
Radai Oy in which eighty two flight lines (250km) were flown over the area.
The geophysical interpretation by Mr. Brett which led to the identification of
twenty three kimberlite targets in the area was conducted on the data
generated from the survey.

The Kimberlite targets are reported as ranging from 0.5 hectare to 4.7
hectares in size and “with a high ratio of highly ranked targets” based on
their magnetic signature.

Previous work on the licence area included Kimberlite indicator mineral
sampling, during which the green diamond was discovered. Further Kimberlite
indicator mineral sampling encountered highly anomalous kimberlite indicators,
including G9 and G10 garnets, which are known indicators of diamond
prospectivity. Follow-up drilling resulted in the discovery of a Kimberlite
dyke, confirming the presence of Kimberlites in the immediate area (as
announced by the Company on 6 December 2018).

The interpretation by Jeremy S. Brett Consulting has also highlighted
potential underlying structural controls to the emplacement of Kimberlite
bodies, which can be applied in a wider context to the overall Kuhmo region.

Follow-up work on the twenty three kimberlite targets identified will commence
in the near future and further updates will be issued by the Company in due
course.

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

“These exciting results in an area where we have already discovered a green
diamond in till are a very significant encouragement in our quest to discover
the origin of the green diamond and/or any other diamond deposits in the area
and in our overall objective of discovering, in the Finnish sector of the
Karelian Craton, diamond deposits comparable to the world class diamond
discoveries of Lomonosov and the Grib pipe in the Russian sector of the
Craton. ”

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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