Lucara Diamond Corp. Has reported results of the Karowe diamond sale completed on November 26, 2012. A total of 52 lots were put up for sale containing 56,982 carats of diamonds.

All lots were sold, for an average price of $300 per carat yielding gross proceeds of $17.14 million. The jewel of the sale was the 9.46 carat blue diamond which sold for $4,515,000 or $477,272/ct. Also included in the sale was a second small blue diamond weighing 0.64 carats which sold for $24,500 or $38,282 per carat.

The diamonds were sold on tender with pre-sale viewings in Gaborone and Antwerp. Viewings in Antwerp were held at the offices of Bonas-Couzyn.

William Lamb, President and CEO of Lucara notes, “The sales numbers for our fourth sale of Karowe diamonds are a fantastic result for Lucara. The value received for the exceptionally rare blue diamond has added significantly to the sale. The occurrence of the two blue diamonds sold confirm the excellent quality of the resource at Karowe.”

The Karowe mine continues to perform according to expectations. The final sale of Karowe diamonds in 2012 will take place in December with an expected sales volume of approximately 57,000 carats.

Lucara is a well positioned emerging new diamond producer. The Company has an experienced board and management team with extensive diamond development and operations expertise. The Company’s two key assets are the Karowe Mine in Botswana and the Mothae Project in Lesotho. The 100% owned Karowe Mine is in production. The 75% owned Mothae Project has completed its trial mining program and is currently undergoing a preliminary economic assessment.