Update on Riihivaara Diamond Stability Field

1 December 2014 SAMPLE MATERIAL AT RIIHIVAARA FROM DIAMOND STABILITY FIELD * Scanning Electron Microscopy Confirms Sample Material at Riihivaara Comes f rom the Diamond Stability Field * Results Also Confirm Presence of Eclogitic Indicator Grains in the Sample _____________________________________________________________________________ Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), is pleasedto announce that further to its announcement of 16th October 2014, the samplematerial from its Riihivaara target in the Kuhmo region of Finland has beenconfirmed as being derived from the diamond stability field of the Earth'smantle and that eclogitic grains are also present in the sample. The presence of eclogite mantle materials is significant, as these tend to beassociated with richer diamond grades. The sample material was sent for analysis by Scanning Electron Microscopy atthe Geological Survey of Finland (GTK) laboratory in Helsinki. The detailed laboratory results show 27 Group 2 eclogite grains, 8 HarzburgiticG10 garnets including a G10(D), 33 Lherzolite G9 garnets, 27 megacrysts and 1Wehrlitic grain. The presence of the Harzburgitic G10 garnets including a G10(D) confirms that the sample material is derived from the diamond stabilityfield of the Earth's mantle. This release has been approved by Kevin McNulty PGeo, who is a member of theCompany's technical staff, who holds a BSc/MSc in Geology and Remote Sensing,in accordance with the guidance note for Mining, Oil & Gas Companies issued bythe London Stock Exchange in respect of AIM Companies, which outlines standardsof disclosure for mineral projects. Dr. Hugh O'Brien, a diamond specialist with the GTK stated that: "These new results, in addition to the Harzburgitic G10 garnets, contain asignificant eclogitic component which could translate into an enhanced diamondpotential for the mantle source of these indicator minerals. The fact thateclogite garnets are rare down ice, suggests that the source of the newlydiscovered Karelian eclogite garnet grains is probably relatively proximal." Professor Richard Conroy, Chairman commented: "I am delighted with the further significant results fromthe Kuhmo explorationarea in Finland. The presence of eclogitemantle materials isparticularlypromisingas such material is oftenassociated with richer diamondgrades. "The prospect of a new kimberlite discovery in this area following on fromthediscovery inSeitaperä, where the Company has already outlined the largestdiamondiferous pipe yet discovered in Finland,isveryencouraging." Further Information: Professor Richard Conroy, Chairman, Karelian Tel: +353-1-661-8958Diamond Resources plc Virginia Bull / Simon Clements, Sanlam Securities Tel: +44-20-7628-2200UK Limited (Nomad) Ger Heffernan, IBI Corporate Finance Limited (ESM Tel: +353-7662-34800Adviser) Jon Belliss/Abigail Wayne, Hume Securities PLC Tel: +44-20-3693-1493(Broker) Michael Padley, Lothbury Financial Services Tel: +44-20-3440-7620Limited Don Hall, Hall Communications Tel: +353-1-660-9377

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