Lucara Announces Dates for Exceptional Stone Tender

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 20, 2017) - Lucara Diamond Corp. ("Lucara" or the "Company") (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC) is pleased to announce the dates for its first Exceptional Stone Tender of 2017. Viewings for the tender will take place from May 3, 2017 through May 11, 2017 with the sale closing at 4:00pm CET on May 11, 2017. The sale will include no less than 13 exceptional diamonds, inclusive of the magnificent 374 carat Type IIa diamond and an additional three or four stones larger than 100 carats. The combined weight of diamonds for Lucara's eleventh Exceptional Stone Tender is expected to be greater than 1,300 carats.

On behalf of the Board,

William Lamb

President and CEO

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About Lucara

Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100% owned Karowe Mine in Botswana. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company operates transparently and in accordance with international best practices in the areas of sustainability, health and safety, environment and community relations.

The information in this release is accurate at the time of distribution but may be superseded or qualified by subsequent news releases.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 EU Market Abuse Regulation and the Securities Markets Act. This information was publicly communicated on March 20, 2017 at 2:30 p.m. Pacific 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.