Lucara Annual Meeting Update

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/24/13 -- Lucara Diamond Corp. (TSX: LUC)(BOTSWANA: LUC)(NASDAQ OMX First North: LUC) ("Lucara" or the "Company") announces that, further to the news release dated April 22, 2013, the Annual and Special Meeting of the Company will be held in the Maple Room, Blake, Cassels & Graydon LLP, Suite 2600 - 595 Burrard Street, Vancouver, British Columbia, on Friday, June 21, 2013 at 10:00 a.m. for the following purposes:

1.  To receive the consolidated audited financial statements of the Company
    for the year ended December 31, 2012, together with the report of the
    auditors thereon;

2.  To fix the number of directors at six (6);

3.  To elect directors for the ensuing year;

4.  To appoint auditors for the Company for the ensuing year, at a
    remuneration to be fixed by the directors of the Company;

5.  To confirm and approve an advance notice policy;

6.  To approve certain amendments to the Company's stock option plan; and

7.  To transact such further or other business as may properly come before
    the meeting and any adjournments thereof.

The record date for the Annual and Special Meeting was May 17, 2013.

Following the meeting, Mr. William Lamb, President and CEO, will present an update on the Company's operations and be available to answer any questions.

The Company also announces that it has granted an aggregate of 2,625,000 incentive stock options to certain officers, directors and other eligible persons of the Company. The options are exercisable, subject to vesting provisions, over a period of three years at a price of $0.70 per share.

About Lucara

Lucara is a well-positioned 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.

On Behalf of the Board,

William Lamb, President and CEO

Lucara's Certified Advisor on NASDAQ OMX First North is Pareto Ohman AB.

Contacts:
Lucara Diamond Corp.
Sophia Shane
Corporate Development
[phone]

Lucara Diamond Corp.
Robert Eriksson
Investor Relations, Sweden
[phone]
www.lucaradiamond.com