DCP.L Regulatory News (DCP)

27 October 2016

DiamondCorp plc

AIM share code: DCP & JSE share code: DMC

ISIN: GB00B183ZC46

(Incorporated in England and Wales)

(Registration number 05400982)

(SA company registration number 2007/031444/10)

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

Board changes

DiamondCorp plc, the Southern Africa focussed diamond mine development and exploration company, announces the following changes to the Board.

Further to the announcement of 20 October 2016, that Chris Ellis, current Non-Executive Director of DiamondCorp, has been formally appointed as Independent Interim Non-Executive Chairman with immediate effect.

The Company is also pleased to announce the appointment of Neil McDougall as a Non-Executive Director with immediate effect.

Mr McDougall's appointment is pursuant to the terms of the financing facility ("Facility") with Rasmala plc ("Rasmala") as announced on 20 October 2016, and is in addition to the continued role of Michael Toxvaerd as Non-Executive Director of both DiamondCorp and Rasmala.

Neil McDougall is Chief Financial Officer of Rasmala and is an experienced professional with many years of senior management experience in international environments. Prior to joining Rasmala, Mr McDougall has served in senior finance roles in various organisations including Europe Arab Bank Plc, Commerzbank and Standard Chartered. In his previous roles, he has been responsible for all aspects of Global Finance support, from performance management and decision making through to Product Control, Valuations Control and Financial and Regulatory Reporting.

Prior to these roles Neil also covered senior roles at Bank of Nova Scotia, Dai-Ichi Kangyo (now Mizuho) and started his career at Kleinwort Benson Merchant Bank. He obtained his CIMA qualification in 1993.

The Company also announces that Mr Hulme Scholes, current Non-Executive Director, has resigned from the Board, effective immediately, but shall continue to remain a director of DiamondCorp's operating subsidiary Lace Diamond Mines (Pty) Limited.

Contact details:

DiamondCorp plc

Paul Loudon, Chief Executive

Tel: +27 56 216 1300

Chris Ellis, Interim Non-Executive Chairman

Tel: +44 (0) 20 3151 0970

UK Broker & Nomad

Panmure Gordon (UK) Limited

Adam James/ Atholl Tweedie

Tel: +44 20 7886 2500

JSE Designated Advisor

Sasfin Capital (a division of Sasfin Bank Limited)Megan Young

Tel: +27 11 445 8068

SA Corporate Advisor

Qinisele Resources Proprietary Limited

Dennis Tucker/Andrew Brady

Tel: +27 11 883 6358

Appendix

Mr Neil Thomas McDougall, aged 49, is a director of Rasmala plc and European Islamic Investment Bank Limited and, within the last five years, was a director of CEBH Consultancy Limited.

In addition to the Facility, Rasmala is interested in a total of 55,761,412 ordinary shares in the Company, which represents approximately 11.6% of the issued share capital of the Company. Mr McDougall does not have a direct beneficial shareholding in the Company.

There is no further information to be disclosed under Schedule Two paragraph (g), and Rule 17 of the AIM Rules in respect of Neil McDougall's appointment as Non-Executive Director.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR").