Lucara Announces Management Changes

Lucara Diamond Corp. ("Lucara" or the "Company") (TSX:LUC) (BOTSWANA:LUC) (NASDAQ OMX Stockholm:LUC) wishes to announce that effective April 1, 2018 Zara Boldt will be assuming the role of Chief Financial Officer and Corporate Secretary of the Company. Mr. Glenn Kondo, Chief Financial Officer and Ms. Jennifer Lecour, Vice-President, Legal and Corporate Secretary will be stepping down from their respective roles as of March 31, 2018 to pursue other opportunities.

Eira Thomas, Lucara’s CEO commented: “I am delighted to be welcoming Zara into her new role as Lucara’s CFO and Corporate Secretary where she will be focused on maximizing the value of Lucara’s core diamond mining business at Karowe, and will also support the development of Clara, our new secure, digital diamond sales platform.

On behalf of the Board,  I would also like to take this opportunity to thank Glenn and Jennifer for their long and valued service to the Company. Under Glenn’s leadership, the Company has developed and fostered a strong culture of fiscal responsibility and operational excellence, supported by a finance team with significant experience in both Botswana and Canada. Jennifer’s contributions included the establishment and management of key commercial contracts at Karowe, and the development of strong governance framework for the Company.”

These moves are being taken to consolidate all of the Lucara management team in a common Vancouver office. Mr. Kondo and Ms. Lecour have both agreed to remain in an advisory capacity with the Company until May 31, 2018 to facilitate the smooth transition of their respective responsibilities to Ms. Boldt.

Ms. Boldt is a professional accountant (CPA, CGA) who has spent the majority of her career in progressively senior financial leadership roles within public companies in the mineral exploration and development industry. Most recently, Ms. Boldt served as the CFO & Corporate Secretary for Strongbow Exploration Inc.  In addition, she served as the CFO and Corporate Secretary of Kaminak Gold Corporation, where she was responsible for corporate due diligence and the negotiation, documentation and execution of a Plan of Arrangement for an acquisition transaction valued at C$520 million. Prior to Kaminak, Ms. Boldt served for 8 years as the Vice-President, Finance and Chief Financial Officer for Stornoway Diamond Corporation, where she was a member of the senior management team responsible for arranging financing in excess of $900 million for the development of the Renard Diamond Mine in Quebec. Ms. Boldt is a director and Chair of the Audit Committee for Bluestone Resources Inc. and Gold Standard Ventures Corp.