AGM Statement

Progress of the Company in diamond exploration and development in Finland and critical metal exploration in Northern Ireland noted

Karelian Diamond Resources plc ("Karelian Diamonds") (AIM: KDR) will hold its annual general meeting today at The Conrad Dublin Hotel, Earlsfort Terrace, Dublin at 10:30 a.m.

At this meeting, Professor Richard Conroy, Chairman, will make the following statement:

"While diamond exploration and development in Finland remains the core strategy of KDR, the Company has discovered significant prospectivity for critical metals (including Nickel) in Northern Ireland. The Company's achievements during the year and post balance sheet date include:

Finalising and paying landowner compensation in relation to the mining permit for the Lahtojoki diamond deposit. This is a significant milestone in progressing this project;

Comprehensive geophysical analysis from a high-resolution drone based magnetic survey together with kimberlite indicator analysis and subsequent results from basal till samples taken by excavation of selected sites, has considerably narrowed the target area for the kimberlite source of the green diamond discovered by the company; and

Additional mineral prospecting licences for critical metals in Northern Ireland were granted to the Company. Results from a subsequent stream sediment sampling programme indicated high prospectivity for Nickel/Copper/Platinum Group Metals and a highly anomalous area was outlined.

We look forward to 2024 with optimism."