Lucara's Exceptional Stone Tenders Bring in $136 Million in 2014

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 21, 2014) - Lucara Diamond Corp. (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC) ("Lucara" or the "Company") is pleased to announce the results from its third Exceptional Stone Tender of 2014. The sale of fourteen diamonds closed on October 21, 2014 with all lots being sold for gross revenues of $46.4 million ($30,129 per carat). A total of 12 of the 14 stones sold for greater than $1.0 million, including 6 stones which sold for greater than $4.0 million each. The highest value stones sold during the tender included the 203 carats, the 239 carats and the 141 carats diamonds which sold for $8.2 million, $7.2 million and $6.1 million respectively.

This tender concludes Lucara's Exceptional Stones Tenders ("EST") for 2014. Through the year, 50 diamonds were sold in EST's, generating revenues of $135.6 million at an average diamond value of $32,468 per carat. Of the 50 diamonds sold, 40 sold for greater than $1.0 million, including 8 stones which sold for greater than $5.0 million.

William Lamb, President and CEO, commented, "The results of this Exceptional Stone Tender reaffirms the demand for these remarkable diamonds that continue to be recovered at Karowe. Our sales results reflect the continued robustness of the diamond sector and the continued strong demand for our exceptional diamonds."

On behalf of the Board,

William Lamb, President and CEO

About Lucara

Lucara is a well positioned new diamond producer. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company's two key assets are the Karowe Mine in Botswana and the Mothae Project in Lesotho. The 100% owned Karowe Mine is in production. The 75% owned Mothae Project has completed its trial mining program.

Information in this release is accurate at the time of distribution but may be superseded or qualified by subsequent news releases.

Information in this release is price sensitive and has been made public in accordance with the Swedish Securities Market Act (2077:528].

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain of the statements made and contained herein and elsewhere constitute forward-looking statements as defined in applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or achieved.