Four Year Wage Agreement Signed

18 February 2015

DiamondCorp plc

AIM share code: DCP & JSE share code: DMC

ISIN: GB00B183ZC46

(Incorporated in England and Wales)

(Registration number 05400982)

(SA company registration number 2007/031444/10)

("DiamondCorp", "the Group" or "the Company")

fOUR YEAR WAGE AGREEMENT SIGNED

DiamondCorp, the Southern African diamond development and exploration company, is pleased to announce that its 74%-owned subsidiary Lace Diamond Mines (Pty) Limited has signed a four year wage agreement with the Association of Mineworkers and Construction Union (AMCU) and covering all employees at the Lace diamond mine in the Free State province of South Africa.

The agreement is based around 8% annual increases in basic salary for most categories, along with a progressive lift in the lowest categories to R12,500 per month basic salary over the four year period.

DiamondCorp CEO Mr Paul Loudon said: "This long wage agreement will provide industrial relations stability at the Lace mine during the critical mine start up years and demonstrates a solid maturing of relationships between the union and management. We are particularly pleased to have negotiated a four year agreement rather than the more common two or three year agreement".

Contact details:

DiamondCorp plc

Paul Loudon, Chief Executive

Tel: +27 56 216 1300

Euan Worthington, Chairman

Tel: +44 7753 862 097

UK Broker & Nomad

Panmure Gordon (UK) Limited

Dominic Morley/Adam James

Tel: +44 20 7886 2500

JSE Designated Advisor

Sasfin Capital (a division of Sasfin Bank Limited)Megan Young

Tel: +27 11 445 8068