LUCARA TO HOLD A VIRTUAL TOWN HALL MEETING ON MARCH 9, 2022

VANCOUVER, BC, March 4, 2022 /CNW/ - (TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)

Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to announce that Eira Thomas, President and CEO, will be presenting at a Virtual Town Hall meeting for investors, on Wednesday, March 9, 2022, at 12:00 EST / 5:00pm BST / 6:00 pm CET. Please view PDF version

The Company published its 2021 Year End results on February 24, 2022 (link to press release), marking a strong year for operational and financial performance. Some of the highlights include:

• Revenue of $230.1 million increased 84% over the previous year.
• Average price per carat sold increased to $603/carat, an 80% increase over the previous year.
• A total of 841 Specials (single diamonds in excess of 10.8 carats) recovered, representing 7.8% weight percent Specials, the highest annual volume of Specials recovered since Karowe commenced production in 2012.
• The third +1,000 carat diamond recovered since 2015.
• A record 2.8 million tonnes of ore processed, representing a new annual record since the start of production at the Karowe Mine.
• The Karowe underground expansion project was formally approved by the Board of Directors and a total project investment of $86.3 million during 2021 focused on detailed design and engineering, establishing surface infrastructure and shaft pre-sinking.
• Total sales volume of $28.7 million transacted on the Clara platform, a 168% increase from the $10.7 million transacted in 2020.

The Karowe mine remains one of the world's highest margin diamond mines yielding 4 of the 10 largest diamonds in recorded history, including the 1,174 carat diamond recovered in 2021, the 1,758 carat Sewelô, the largest diamond recovered from Botswana, and the 1,109 Lesedi La Rona which sold for US$53 million.

Register for the live Lucara Town Hall event here: Link. A Question & Answer period will follow the presentation. A copy of the presentation will also be available on the Company's website: https://lucaradiamond.com.

Eira Thomas
President and Chief Executive Officer

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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 was submitted for publication, through the agency of the contact person set out above, at 5:30 p.m. Pacific Time on March 3, 2022.