Marsfontein Production Update

3rd August 2023

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Marsfontein Production Update

Botswana Diamonds plc ('BOD') the London AIM and Botswana Stock Exchange listed diamond exploration and development company is pleased to provide a production update on its Marsfontein project in South Africa which is designed to provide information to assist our Thorny River development.

Site establishment commenced during the latter part of January 2023, with the first diamonds as previously reported being recovered from the gravels and dumps surrounding the historic pit during March 2023. Diamond recoveries and values have been above expectations. To date 1,481 carats have been recovered from the project, with the largest stone recovered being a low quality/value 24.6 carat stone and with several Special (high value) stones. 

Mining and processing activities are ongoing.

Thorny River is currently anticipated to go into production during the course of H2 2023.

Chairman, John Teeling, commented: "Mining on Marsfontein is a proof of concept, which is working well. Despite a slow start with equipment and weather issues the project is delivering better than expected grades and diamond values. This augurs well for our adjacent Thorny River development which is expected to commence in the latter half of 2023".

This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the Geological Society of South Africa, a Fellow of the Southern African Institute of Mining and Metallurgy, a Fellow of the Institute of Materials, Metals and Mining (UK) and with over 38-years' experience in the diamond sector.

A copy of this announcement is available on the Company's website, www.botswanadiamonds.co.uk

Enquiries:

www.botswanadiamonds.co.uk