Death of Director

Karelian Diamond Resources PLC (AIM: KDR), the natural resource exploration and development company focused on Ireland and Finland, announces with great sadness that its founder and Executive Chairman, Professor Richard Conroy, has passed away after a brief illness.

On behalf of the Board, Séamus FitzPatrick, Deputy Chairman of Karelian, commented:

"Richard's accomplishments across the diverse range of medicine, politics and indeed mineral exploration garnered respect from all. His entrepreneurial and inquiring spirit was excited by the opportunities in mine exploration and development, and his skills, honed in Zinc and Gold in Ireland, spread to Finland where his vision of the Karelian Craton having the potential for a significant European diamond mine is being steadily realised by the Company. Equally, the Company's recent progress on its Copper, Nickel and Platinum-Group-Element project in Northern Ireland held true to his belief in the potential of Ireland to provide a European solution to the shortfall in critical minerals necessary for a modern economy. In Karelian Diamond Resources, we intend to continue to build on his substantial legacy and deliver on Richard's vision for the company."