Change of Adviser

11 March 2016 Karelian Diamond Resources plc ("Karelian" or "the Company") Change of Adviser Karelian Diamond Resources plc (AIM: KDR; ESM: KDR.I), the diamond explorationcompany focused on Finland, is pleased to announce that it has appointedAllenby Capital Limited ("Allenby") as its nominated adviser. This decision hasbeen made in light of Allenby's acquisition of the corporate finance functionof the Company's previous nominated adviser, Sanlam Securities (UK) Limited,and the Company's desire to retain continuity with one of its key advisers. - ends - For further information please contact: Karelian Diamond Resources plc Tel: +353-1-661-8958Professor Richard Conroy, Chairman Allenby Capital Limited (Nomad) Tel: +44-20-3328-5656Virginia Bull/Simon Clements Beaufort Securities Plc(Broker) Tel: +44-20-7382-8300Jon Bellis / Elliot Hance IBI Corporate Finance Limited (ESM Adviser) Tel: +353-766-234-800Ger Heffernan/Jan Fitzell Lothbury Financial Services Limited Tel: +44-20-3290-0707Michael Padley Hall Communications Tel: +353-1-660-9377Don Hall Visit the website at: www.kareliandiamondresources.com END