Annual Report and Notice of AGM

PARAGON DIAMONDS LTD - Annual Report and Notice of AGM

PR Newswire

London, June 29

Paragon Diamonds Limited / Index: AIM / Epic: PRG / Sector: Resources

 29 June 2015

Paragon Diamonds Limited (‘Paragon’ or the ‘Company’)

 Annual Report and Notice of AGM

Paragon Diamonds Limited, the AIM quoted diamond development company, is pleased to announce that the Annual Report for the year ended 31 December 2014 has now been posted to shareholders.

The Annual Report contains the Notice of the Annual General Meeting which is to be held at the Company’s registered office, Dixcart House, Sir William Place, St Peter Port, Guernsey GY1 1GX on 4 August 2015 at 11.00am.

The Annual Report can also be viewed on the Company’s website at http://www.paragondiamonds.com/financial_reports.php.

**ENDS**

For further information please visit www.paragondiamonds.com or contact:

Notes

Paragon Diamonds has an 80% interest in the Lemphane Kimberlite Pipe project in Lesotho, located close to the world class Letšeng mine, Lesotho’s largest diamond mine. Lemphane is the last known kimberlite to be developed in Lesotho. The first of a two stage production programme is expected to commence in 2015 which will further define the resource at Lemphane. As increased tonnages of kimberlite are processed the proportion of larger diamonds recovered will improve, increasing the average value of diamonds recovered at the project, as was the case at Letšeng. In addition to Lemphane, Paragon Diamonds has signed a Memorandum of Understanding with Lucara Diamond Corporation, a TSX quoted mining company, to acquire a 75% interest in and operate the defined Mothae Kimberlite Resource, which is located only 5 km from the world class Let?eng le Terai diamond mine in Lesotho.