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LUCARA RECOVERS RARE BLUE DIAMOND

November 5, 2012 (LUC–TSX, LUC–BSE, LUC–NASDAQ OMX First North) … Lucara Diamond Corp. is pleased to announce the recovery of a 9.46 carat rare Type II blue diamond from its wholly owned Karowe Mine in Botswana. The diamond, the first of its kind to be identified at Karowe, will be sold on tender at the upcoming sale of Karowe diamonds which will take place on November 26, 2012. At this sale, more than 57,000 carats of diamonds will be sold on tender, the fourth sale of Karowe diamonds this year.

Mr. William Lamb, Lucara’s President and CEO noted: “The recovery of such a rare stone is of great importance to the Karowe asset. We had previously identified a population of Type II diamonds at Karowe and the recovery of this rare blue diamond confirms the quality distribution of the diamonds being mined at Karowe.”

Pictures of the blue diamond recovered at Karowe are attached and can also be viewed on the Company’s website www.lucaradiamond.com


About Lucara

Lucara is a well positioned emerging new diamond producer. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company’s two key assets are the Karowe Mine in Botswana and the Mothae Project in Lesotho. The 100% owned Karowe Mine is in the production. The 75% owned Mothae Project is currently in the trial mining stage.