Result of Open Offer

6 July 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")

Result of Open Offer

DiamondCorp, the Southern African focussed diamond development, exploration and mining company, is pleased to announce the results of the Open Offer, details of which were announced on 17 June 2015.

Under the Open Offer, valid applications have been received from Eligible Shareholders in respect of their Basic Entitlements for in aggregate, 13,380,558 Open Offer Shares, representing 64.0 per cent. of the Open Offer Shares. As a consequence, 7,513,705 Open Offer Shares were available pursuant to the Excess Application Facility. Valid applications received from Eligible Shareholders pursuant to the Excess Application Facility have been received in respect of 36,819,674 Excess Shares, representing 4.9 times the Excess Shares available. Accordingly, Eligible Shareholders will receive an approximate rate of 20.4 per cent. of their application under the Excess Application Facility.

DiamondCorp has therefore raised the maximum proceeds through the Open Offer and Placing for a total of £5.27 million (gross).

Euan Worthington, Chairman, commented:

"The Board is very pleased at the high level of over-subscription for the Open Offer and that the majority of shareholders have been able to participate on the same terms as the recent Placing to institutions. We thank shareholders for their continuing support and look forward to an exciting future"

Shareholdings of the Directors

Certain Directors of DiamondCorp have subscribed in the Open Offer and further details with regards to their updated shareholdings will be announced in due course.

Admission and Dealings

It is expected that Admission of the 20,894,263 new Ordinary Shares will become effective on 7 July 2015. Following Admission, the Company will have 376,096,741 Ordinary Shares in issue, all of which have voting rights.

The above figure of 376,096,741 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in DiamondCorp under the FCA's Disclosure and Transparency Rules.

This announcement should be read in conjunction with the full text of the Circular published by the Company on 17 June 2015. Definitions used in the Circular shall have the same meanings when used in this announcement unless the context otherwise requires.

Contact details:

DiamondCorp plc

Euan Worthington, Chairman

Tel: +44 7753 862 097

Paul Loudon, CEO

Tel: +27 828 246 897

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 11 809 445 8068

SA Corporate Advisor

Qinisele Resources Proprietary Limited

Dennis Tucker / Andrew Brady

Tel: +27 11 883 6358