Lucara Announces Date for Its First Exceptional Stone Tender in 2016

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 8, 2016) - (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC) Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to announce the dates for its first Exceptional Stone Tender ("EST") of 2016. Viewing will take place in Gaborone from April 4 through April 13, 2016 with the tender closing at 1.00 p.m. CAT. The tender will feature ten diamonds with a combined weight of 1,525 carats including a magnificent 296 carat Type IIa diamond. The tender does not include any of the three previously announced exceptional diamonds recovered in November 2015.

William Lamb, President and CEO, commented, "We are very pleased to be able to offer this collection of diamonds this early in the year. The collection of diamonds being presented continues to demonstrate the quality of the production being recovered from the south lobe of the Karowe Mine."

On behalf of the Board,

William Lamb, President and CEO

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About Lucara

Lucara is a well-positioned diamond producer. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company's main producing asset is the 100% owned Karowe Mine in Botswana. The Company also conducts exploration activities and holds two precious stone prospecting licenses close to its Karowe mine.

The information in this release is accurate at the time of distribution but may be superseded or qualified by subsequent news releases.

The information in this release is subject to the disclosure requirements of Lucara Diamond Corp. under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on February 8, 2016 at 2:00 a.m. Eastern Time.

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.