LUCARA RECEIVED FINAL APPROVAL TO CHANGE ITS SWEDISH LISTING TO NASDAQ FIRST NORTH GROWTH MARKET

Lucara Diamond Corp. has officially secured final approval for its transition to the Nasdaq First North Growth Market in Sweden, marking a significant change in its trading venue. This approval, received from Nasdaq Stockholm, follows the company's fulfillment of all necessary conditions for the switch. The last day of trading for Lucara shares on Nasdaq Stockholm will be January 30, 2025, with trading on the First North Growth Market set to commence the following day, January 31, 2025. Importantly, this transition will not affect Lucara's existing listings on the Toronto Stock Exchange and the Botswana Stock Exchange, and shareholders will not need to take any action regarding this change.

Lucara is recognized as a prominent independent producer of high-quality Type IIa diamonds, primarily sourced from its wholly-owned Karowe Diamond Mine in Botswana, which has been operational since 2012. The company's management brings extensive experience in diamond production and development, reinforcing Lucara's commitment to sustainability and ethical operations, adhering to international standards and practices.

Lucara is involved in several initiatives aimed at enhancing community development and environmental stewardship in Botswana, demonstrating its commitment to long-term economic benefits for the regions in which it operates. The company's current focus includes the development of the Karowe underground expansion project, which aligns with the Equator Principles to ensure sustainable mining practices.

The move to Nasdaq First North Growth Market is seen as a pivotal step for Lucara, expected to enhance its visibility and potential for growth in the European investing community. Lucara's certified adviser for this new listing will be Bergs Securities AB, ensuring a smooth transition as the company embarks on this new chapter.

Lucara Diamond Corp.'s recent transition from Nasdaq Stockholm to Nasdaq First North Growth Market is a noteworthy development for investors and stakeholders. This strategic move represents the company's determination to optimize its visibility and trading environment, which could have positive implications for liquidity and investor engagement.

Investors should consider that the First North Growth Market typically attracts a different investor profile, focusing on growth-stage companies, with potentially higher volatility but also greater opportunity for capital appreciation. Lucara, known for its high-quality Type IIa diamonds from the Karowe Diamond Mine in Botswana, offers a compelling value proposition, particularly as the demand for premium diamonds remains robust. As Lucara continues to operate transparently and adheres to international best practices, trust in their management and operational integrity should drive investor confidence.

With trading on Nasdaq First North commencing January 31, 2025, existing investors will see their shares transition seamlessly, with no additional actions required on their part. This ease of transition should reassure shareholders, but new investors might view this as an opportune moment to explore an entry point, particularly given Lucara's strong fundamentals and commitment to sustainable practices.

Moreover, with ongoing developments at the Karowe Mine, including the underground expansion project, Lucara is poised to enhance its production capabilities. Investors should monitor progress in this project as it could lead to improved output and revenue potential, further strengthening the overall investment thesis.

In summary, Lucara's strategic shift to the Nasdaq First North Growth Market may present a unique opportunity for both existing and potential investors. By aligning itself with a platform that emphasizes growth, Lucara could unlock additional market interest while pursuing its operational excellence in diamond production.