Lucara Announces Positive Preliminary Economic Assessment for Karowe Underground

Lucara Diamond Corp. (“Lucara” or the “Company”) (TSX:LUC)(BOTSWANA:LUC)(NASDAQ OMX Stockholm:LUC) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) prepared in accordance with National Instrument 43-101 (“NI43-101”) for the development of an underground mine to commence production, after the completion of the current open pit mine, at its Karowe Mine (“Karowe Mine”) in Botswana. All dollar amounts in this release are presented in US dollars unless otherwise stated.
As quoted in the press release:

William Lamb, President and CEO, stated, “The results of the PEA demonstrate the potential economic viability for the development of an underground mine at Karowe. Underground operations are focused on the high value south lobe, which remains open at depth below the current design, and is a further indication of the potential longevity of the resource and cashflow generation at Karowe. We have seen on-going improvement in the value of diamonds from the south lobe and the development of an underground mine has the potential to add significantly to the Life of Mine at Karowe.”

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