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Karelian Diamond Res. PLC (KDR)

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Thursday 16 October, 2014

Karelian Diamond Res. PLC

New Kimberlite Source Indicated

                                                                16 October 2014

                        NEW KIMBERLITE SOURCE INDICATED                        

  * Over 100 Kimberlitic Indicator Minerals Reported In A Riihivaara Sample
  * Results Suggest Sample Recovered is Either Directly Over or Within 100
    Metres of New Kimberlite Source

Karelian Diamond Resources plc ("Karelian") (AIM: KDR, ESM: KDRI), ), the
AIM-listed diamond exploration company focused on Finland, is pleased to
announce that the recovery of high concentrations of kimberlitic indicator
minerals ("KIMs") in Riihivaara indicate the nearby presence of a new
kimberlite source in the Kuhmo region of Finland.

Laboratory results from a sample collected on the Company's Riihivaara target
in the Kuhmo region show high concentrations of over 100 kimberlitic indicator
minerals. The results include 48 Purple to Red peridotitic garnets (G9/10
Cr-pyrope) and 46 Orange mantle garnets which are 0.25 to 0.5mm in size, plus 5
Purple to Red peridotitic garnets (G9/10 Cr-pyrope) and 3 Orange mantle garnets
in the 0.5 to 1.0mm size range. G9/10 garnets are considered significant as
they are formed at the same temperatures and pressures as diamonds. Orange
mantle garnets can include eclogitic pyrope-almandine garnets (G3) and if
eclogite mantle materials are present it is significant, as it tends to be
associated with richer diamond grades. The garnets will be tested to establish
whether eclogite mantle materials are present.

In the Kuhmo region of Finland, high numbers of kimberlitic indicator minerals
are normally only seen either directly over or within a hundred metres of a
kimberlite source.

The Riihivaara target is located to the Southeast of Seitaperä where the
Company has outlined the largest diamondiferous kimberlite pipe discovered in
Finland to date.

The indicator minerals have been sent for analysis by scanning electron
microscopy for precise classification which will determine whether any of the
sample material is derived from the diamond stability field. A further
announcement will be made in due course.

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.

Professor Richard Conroy, Chairman commented: "I am delightedat these
results.We have for some time been following up the diamondiferous kimberlitic
indicator mineral trains thatwe have discovered on our Riihivaara target. We
now appear to be getting very close to or immediately over the source."

Further Information:

Professor Richard Conroy, Chairman, Karelian       Tel: +353-1-661-8958        
Diamond Resources plc                                                          
Virginia Bull / Simon Clements, Sanlam Securities  Tel: +44-20-7628-2200       
UK Limited (Nomad)                                                             
Ger Heffernan, IBI Corporate Finance Limited (ESM  Tel: +353-7662-34800        
Jon Belliss/Abigail Wayne, Hume Securities PLC     Tel: +44-20-3693-1493       
Michael Padley, Lothbury Financial Services        Tel: +44-20-3440-7620       
Don Hall, Hall Communications                      Tel: +353-1-660-9377 

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