TIDMKDR 
 
Karelian Diamond Resources plc 
 
                    ("Karelian Diamonds" or "the Company") 
 
                                                               10 November 2021 
 
HIGHLY ANOMALOUS AMOUNTS OF CHROMITE IN SAMPLING PROGRAMME REPORTED BY KARELIAN 
 
  * Highly anomalous amounts of chromite and forsterite olivine encountered 
 
  * Metamorphic massive sulphide indicator minerals also identified 
 
  * Local sampling programme confirms and builds on previous regional studies 
 
  * Significant implications for additional targets in Karelian's Northern 
    Ireland licence 
 
Karelian Diamond Resources plc (AIM: KDR) is pleased to announce results from 
its stream sediment sampling programme focused in Northern Ireland. Ten samples 
were collected and shipped to Overburden Drilling Management Limited in Canada 
for mineral concentration, picking and analysis for indicator minerals. 
 
The sampling programme was being carried out in relation to the reported 
discovery of a diamond in the Colebrooke River and previous reported recovery 
of chromite minerals which can be associated with the presence of 
diamondiferous kimberlites. 
 
Results prove the presence of chromite in all samples with nine samples being 
interpreted as either anomalous or highly anomalous. The best sample contained 
over 1,800 chromite grains in the 0.25 - 2.0mm size fraction.  The samples also 
showed the presence of forsterite olivine and metamorphic massive sulphide 
indicator minerals ("MMSIM's"), chalcopyrite and low chrome diopside. 
 
Initial interpretation of the chromite grains and forsterite olivine together 
with the MMSIM's is suggestive of a non-kimberlite source rock which is 
indicative of additional targets for mineralisation within Karelian's licence 
area. 
 
Relating these results to the Tellus geochemical and geophysical programmes, 
carried out by the Northern Ireland Government in the mid 2000s, provides 
insight to possible sources of the chromite mineralisation.  The Tellus project 
proved the presence of elevated levels of nickel, copper, chromium, platinum 
and palladium in the area of the Company's licence. Interpretation suggests 
these geochemical enrichments are associated with Palaeocene dykes which 
crosscut the area. 
 
Relating these results with other sampling programmes in known areas of 
Nickel-Copper-Platinum mineralisation globally indicates the Company's data 
should be considered as highly anomalous. 
 
This release has been approved by Kevin McNulty PGeo, who is a member of the 
Company's technical staff and holds a BSc/MSc in Geology and Remote Sensing, in 
accordance with the guidance note for Mining, Oil and Gas Companies issued by 
the London Stock Exchange in respect of AIM Companies, which outlines standards 
of disclosure for mineral projects. 
 
Notes 
 
Platinum, Palladium and Chromium are classified as 'Critical metals (Minerals, 
Critical Minerals and the US Economy, National Research Council, 2008) 
 
Nickel and Copper are important metals in the energy transition (International 
Monetary Fund, 2021) 
 
Professor Richard Conroy, Chairman, Karelian Diamond Resources plc, commented: 
 
"These exciting results heighten the prospectivity of the Company's exploration 
programme in Northern Ireland and add an additional dimension to the Company's 
exploration interests." 
 
Further Information: 
 
Karelian Diamond Resources plc 
Professor Richard Conroy, Chairman                         +353-1-479-6180 
 
Allenby Capital Limited (Nomad) 
Nick Athanas / Nick Harriss                                +44-20-3328-5656 
 
First Equity Limited (Broker) 
Jason Robertson                                            +44-20-7330-1883 
 
Lothbury Financial Services 
Michael Padley                                             +44-20-3290-0707 
 
Hall Communications 
Don Hall                                                   +353-1-660-9377 
 
http://www.kareliandiamondresources.com 
 
 
 
END

(END) Dow Jones Newswires

November 10, 2021 02:00 ET (07:00 GMT)

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