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Karelian Diamond Resources Plc - Lahtojoki - National Land Survey proceedings

Karelian Diamond Resources plc

(“Karelian Diamonds” or “the Company”)

24 November 2022

LAHTOJOKI DIAMOND DEPOSIT – NATIONAL LAND SURVEY PROCEEDINGS

  • Date set (14 December 2022) for National Land Survey Proceedings

  • Land Survey Proceedings an essential step in mining concession process in Finland

Karelian Diamond Resources PLC (AIM: KDR) is pleased to announce that, further to the most recent announcement on 6 October 2022, the National Land Survey of Finland proceedings meeting in relation to the Lahtojoki diamond deposit will be held on 14 December 2022.

A mining concession over the Lahtojoki diamond deposit has already been approved by TUKES (the Finnish Mining authority). The National Land Survey of Finland, on the order of TUKES, is carrying out the proceedings to establish the mining concession for the applied area. The process has involved a series of public meetings in relation to ground rental compensation for local landowners. By early 2020 the process had reached an advanced stage but was then delayed by the onset of the COVID-19 pandemic and consequent restrictions on holding public meetings.

The Lahtojoki diamond mining project comprises a mining concession covering 71 hectares (c.176 acres) which includes a kimberlite pipe over a surface area of 16 hectares (c.40 acres).

The Lahtojoki diamond deposit, as well as containing high quality colourless gem diamonds, also contains coloured diamonds including pink diamonds which are highly sought after and can command prices up to 20 times that of normal coloured diamonds.

Further announcements will be made in due course.

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

“I am delighted that a firm date has been set for the Land Survey Process and that we may now look forward to progressing the mining concession in relation to the Lahtojoki diamond deposit.”

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