Diamond Exploration Claim Reservations Granted

30 October 2014

                Diamond Exploration Claim Reservations Granted                 

  * Five Known Kimberlite Bodies Within The Claim Reservations
   
  * 1 Claim Reservation granted in the Kuhmo region of Finland
   
  * 2 Claim Reservations granted in the Kuopio - Kaavi region of Finland
   
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Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), the diamond
exploration company focused on Finland, is pleased to announce that TUKES (The
Finnish Mining Authority) has granted Karelian three further exploration Claim
Reservations. The reservations are located in the Kuhmo and Kuopio-Kaavi
regions.

The Claim Reservation in the Kuhmo region is up ice from kimberlitic indicator
minerals recovered previously by the Company at its Rihiivaara diamond
exploration target.

Kuopio-Kaavi is situated in Central Finland and is an established
diamondiferous region. In both of the Claim Reservations granted in the
Kuopio-Kaavi region, diamondiferous kimberlite bodies have been reported. These
Claim Reservations were applied for with a view to re-evaluating these known
kimberlite bodies and following up on indicator mineral trains.

Five kimberlite bodies are known to be present in the Claim Reservation areas.
Four of these have had diamonds reported from them by Malmikaivos oy including
Kimberlite body 21 with a sample from that kimberlite body giving 128 diamonds
of greater than 0.8 mm and also a large single stone of 1.126 ct.

Professor Richard Conroy, Chairman commented:

"I am delighted that,as part of our ongoing diamond exploration programme in
Finland and our re-evaluation of the Kuopio-Kaavi area, we have secured these
kimberlite bodies, four of which are known to be diamond bearing."

This release has been approved by Kevin McNulty PGeo, who is a member of the
Company'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 by
the London Stock Exchange in respect of AIM Companies, which outlines standards
of disclosure for mineral projects.

Further Information:

Professor Richard Conroy, Chairman, Karelian       Tel: [phone]        
Diamond Resources plc                                                          
                                                                               
Simon Clements/Virginia Bull, Sanlam Securities UK Tel: [phone]       
Limited (Nomad)                                                                
                                                                               
Ger Heffernan, IBI Corporate Finance Limited (ESM  Tel: [phone]        
Adviser)                                                                       
                                                                               
Jon Belliss/Abigail Wayne, Hume Securities PLC     Tel: [phone]       
(Broker)                                                                       
                                                                               
Michael Padley, Lothbury Financial Services        Tel: [phone]       
Limited                                                                        
                                                                               
Don Hall, Hall Communications                      Tel: [phone]        

http://www.kareliandiamondresources.com