Result of General Meeting

NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.

28 March 2011

AIM: STEL

Stellar Diamonds plc

("Stellar" or the "Company")

RESULT OF GENERAL MEETING

Stellar, the AIM-quoted diamond mining and exploration company focused on West Africa, is pleased to announce that at the General Meeting held today in relation to its recently announced proposed placing to raise £6.2 million (before expenses) through a placing of 77,500,000 new Ordinary Shares, all of the Resolutions set out in the Notice of General Meeting contained in the circular were duly passed without amendment.

Application has been made for the admission of the 77,500,000 new Ordinary Shares to trading on AIM on 29 March 2011. Upon admission, the enlarged issued share capital of the Company will consist of 216,766,659 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. Therefore the total number of shares with voting rights in the Company on admission will be 216,766,659. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following admission.

Enquiries:

Stellar Diamonds plc

Karl Smithson, Chief Executive  Tel: +44 (0) 7783 707 971

Angus Ogilvie, Finance Director Tel: +44 (0) 7885 201 903

RBC Capital Markets

Martin Eales / Daniel Conti Tel: +44 (0) 20 7653 4000

Northland Capital Partners Limited

Charles Vaughan

Gavin Burnell, Edward Hutton Tel: +44 (0) 20 7492 4750

Daniel Stewart & Company plc

Martin Lampshire

Oliver Rigby Tel: +44 (0) 20 7776 6550

Pelham Bell Pottinger

Charles Vivian / James MacFarlane Tel: +44 (0) 20 7861 3232