Update on Riihivaara Diamond Stability Field

1 December 2014

          SAMPLE MATERIAL AT RIIHIVAARA FROM DIAMOND STABILITY FIELD           

  * Scanning Electron Microscopy Confirms Sample Material at Riihivaara Comes f
    rom the Diamond Stability Field
   
  * Results Also Confirm Presence of Eclogitic Indicator Grains in the Sample
   
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Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), is pleased
to announce that further to its announcement of 16th October 2014, the sample
material from its Riihivaara target in the Kuhmo region of Finland has been
confirmed as being derived from the diamond stability field of the Earth's
mantle and that eclogitic grains are also present in the sample.

The presence of eclogite mantle materials is significant, as these tend to be
associated with richer diamond grades.

The sample material was sent for analysis by Scanning Electron Microscopy at
the Geological Survey of Finland (GTK) laboratory in Helsinki.

The detailed laboratory results show 27 Group 2 eclogite grains, 8 Harzburgitic
G10 garnets including a G10(D), 33 Lherzolite G9 garnets, 27 megacrysts and 1
Wehrlitic grain. The presence of the Harzburgitic G10 garnets including a G10
(D) confirms that the sample material is derived from the diamond stability
field of the Earth's mantle.

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.

Dr. Hugh O'Brien, a diamond specialist with the GTK stated that:

"These new results, in addition to the Harzburgitic G10 garnets, contain a
significant eclogitic component which could translate into an enhanced diamond
potential for the mantle source of these indicator minerals. The fact that
eclogite garnets are rare down ice, suggests that the source of the newly
discovered Karelian eclogite garnet grains is probably relatively proximal."

Professor Richard Conroy, Chairman commented:

"I am delighted with the further significant results fromthe Kuhmo exploration
area in Finland. The presence of eclogitemantle materials is
particularlypromisingas such material is oftenassociated with richer diamond
grades.

"The prospect of a new kimberlite discovery in this area following on fromthe
discovery inSeitaperä, where the Company has already outlined the largest
diamondiferous pipe yet discovered in Finland,isveryencouraging."

Further Information:

Professor Richard Conroy, Chairman, Karelian       Tel: [phone]        
Diamond Resources plc                                                          
                                                                               
Virginia Bull / Simon Clements, Sanlam Securities  Tel: [phone]       
UK 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