Holding(s) in Company

Karelian Diamond Resources plc

(“Karelian” or “the Company”)

28 March 2017

Holding in the Company

Karelian Diamond Resources plc (“Karelian”) (AIM: KDR, ESM: KDRI), announces that it was informed earlier today that Alan Osborne is now interested in 20,813,224 ordinary shares of €0.00001 in the capital of the Company, equal to approximately 5.05 per cent. of Company’s issued ordinary share capital.

Further Information:

Professor Richard Conroy, Chairman, Karelian Diamond Resources plc	Tel: [phone]
Virginia Bull / James Thomas / Nick Harriss, Allenby Capital Limited (Nomad)	Tel: [phone]
Ger Heffernan / Jan Fitzell, IBI Corporate Finance Limited (ESM Adviser)	Tel: [phone]
Jon Belliss / Elliot Hance, Beaufort Securities Limited (Broker)	Tel: [phone]
Michael Padley, Lothbury Financial Services Limited	Tel: [phone]
Don Hall, Hall Communications	Tel: [phone]

www.kareliandiamondresources.com