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Karelian Diamond Res. PLC (KDR)

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Monday 08 December, 2008

Karelian Diamond Res. PLC

Result of AGM & AGM Statement


                                                                8 December 2008

                        Karelian Diamond Resources plc                         

                                  (AIM: KDR)                                   

              AGM statement and results of annual general meeting              

                     CHAIRMAN REPORTS ON A MEMORABLE YEAR                      

                             FOR DIAMOND EXPLORER                              

  * Seitaperä Kimberlite Pipe Conclusively Proved To Be Diamondiferous
   
  * First Results From Analysis Of Latest Drill Core Samples Expected Early In
    New Year
   
At the Annual General Meeting today of Karelian Diamond Resources plc, the AIM
listed diamond exploration company focussed on Finland, Chairman Professor
Richard Conroy said that 2007-08 had been a memorable year for the Company,
following the end of which it conclusively proved that its Seitaperä kimberlite
pipe in the Kuhmo region is diamondiferous.

Analysis of a 100kg composite sample of drill core from the pipe recovered 61
micro- and 6 macro-diamonds.

"The Seitaperä diamond count is high and compares well with many recent
kimberlite discoveries elsewhere. This is all the more encouraging given the
project's favourable location, in terms of access and infrastructure, and its
significant surface area.

"Our most recent drilling has identified a north-extension to the pipe with a
surface area of about 1 hectare, again confirming the substantial surface area
of this major kimberlite body"

This drilling also recovered a large amount of core from the central section of
the main pipe which is now being logged. Samples are being selected and
prepared for diamond analysis and the Company expects to have the first results
early in the New Year.

"Your Company in the light of the current financial climate is reviewing all
options and opportunities and looks forward to continuing to make progress at
Seitaperä and elsewhere in Finland."

All resolutions at the AGM were passed.

Further Info: Professor Richard Conroy, Chairman Karelian Diamond Resources plc
Tel: + 353-1-661-8958

Charles Dampney, City Capital Corporation Limited Tel: + 44-20-7842-5867

Jeffrey Coburn/Virginia Bull, John East & Partners Limited Tel: +
44-20-7628-2200

Ron Marshman/Michael Padley, Lothbury Financial Tel: + 44-20-7011-9411

http://www.kareliandiamondresources.com


                                                                                         

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