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LUCARA ANNOUNCES UPDATED FEASIBILITY STUDY FOR KAROWE UNDERGROUND PROJECT

Newswire.ca - Mon Jan 5, 4:00PM CST

VANCOUVER, BC, Jan. 5, 2026 /CNW/ - (TSX: LUC) (BSE: LUC) (Nasdaq First North: LUC)

Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to announce the results of an updated technical report (the "Report") for the updated Feasibility Study ("FS" or "Study"), prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") on its Underground Project ("UGP" or "Project") at the Karowe Diamond Mine ("Karowe") located in Botswana. The Report is titled "Karowe Mine – Botswana 2025 Feasibility Study Technical Report", with an effective date of September 30, 2025, and was prepared for Lucara by JDS Energy & Mining Inc. ("JDS"). The Report will be available under the Company's profile on SEDAR+ at www.sedarplus.ca and from the Company's website at www.lucaradiamond.com within 45 days of this news release. PDF Version

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