425 ct Type II White Stone Find at Cullinan Mine

Petra Diamonds Limited

("Petra," the "Company" or the "Group")

Notification of Recovery of 425.10ct Type II White Stone at Cullinan Diamond Mine

Petra Diamonds Limited is pleased to confirm that it recovered a 425.10 carat D colour Type II gem quality diamond earlier today at its Cullinan Diamond Mine.

This recovery further demonstrates the prevalence of these types of stones in the Cullinan orebody as well as the ability of the mine's plant to recover the full spectrum of diamonds. The stone is expected to be sold during Q4 FY 2019.

The Company will report production and sales results for the quarter ending 31 March 2019 on Monday 15th April.

Photos of the 425.10 carat stone can be found at www.petradiamonds.com/media/image-library/diamonds.

~ Ends ~

For further information, please contact:

Petra Diamonds, London Telephone: +44 20 7494 8203

Marianna Bowes investorrelations@petradiamonds.com 

Salisha Ilyas

Buchanan Telephone: +44 20 7466 5000

(PR Adviser)

Bobby Morse pdl@buchanan.uk.com

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and a consistent supplier of gem quality rough diamonds to the international market. The Company has a diversified portfolio incorporating interests in three underground producing mines in South Africa (Finsch, Cullinan and Koffiefontein) and one open pit producing mine in Tanzania (Williamson). It also maintains an exploration programme in Botswana and South Africa, which is currently under review.

Petra's strategy is to focus on value rather than volume production by optimising recoveries from its high quality asset base in order to maximise their efficiency and profitability. The Group has a significant resource base of ca. 290 million carats, which supports the potential for long-life operations.

Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. The Company aims to generate tangible value for each of its stakeholders, thereby contributing to the socio-economic development of its host countries and supporting long-term sustainable operations to the benefit of its employees, partners and communities. Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a constituent of the FTSE4Good Index. For more information, visit www.petradiamonds.com.