Results in Finnish Exploration Programme

21 October 2013 Further Encouraging Results in Finnish Exploration Programme * Diamondiferous Kimberlite Indicator Minerals Found In Kuusamo Area * Applications Lodged For Exploration Claim Reservations in Area __________________________________________________________________________________ Karelian Diamond Resources plc ("Karelian") (AIM:KDR, ESM: KDR.I) is pleased toannounce that, following its review of exploration results in its Kuusamodiamond exploration target area in Finland, it has submitted applications fortwo exploration claim reservations in the area. Kuusamo is located in the Northeast of Finland just south of the Arctic Circleand is bordered to the East by Russia. Interrogation of airborne geophysics by the Company together with till samplingand integration of data made available to Karelian under its agreement with RioTinto Mining and Exploration has led to the decision to apply for claimreservations in the area. A claim reservation gives exclusive rights to applyfor exploration claims within the reservation area. In the first area 121 kimberlitic indicator minerals were recovered, with 76kimberlitic indicator minerals recovered in the second area, which are verypositive. Further studies including microprobe analysis confirmed that bothareas had diamondiferous kimberlitic indicator minerals. Professor Richard Conroy, Chairman,commented: "I am delighted at these excellent results and the possibility of newdiscoveries in the Kuusamo area.These results complement the positive ones atthe Riihivaaratargetannounced last month. Finland has the potential to host diamond deposits comparableto the world classdiamond deposits found in similar geology across the border in Russiaandbyutilising the Rio Tinto data alongside our own we are seeing very encouragingsigns that that potential may be realised." This release has been approved by Kevin McNulty PGeo, who is a member of theCompany's technical staff, who holds a BSc/MSc in Geology and Remote Sensing,in accordance with the guidance note for Mining, Oil & Gas Companies issued bythe London Stock Exchange in respect of AIM Companies, which outlines standardsof disclosure for mineral projects. Further Information: Professor Richard Conroy, Chairman, Karelian Tel: +353-1-661-8958Diamond Resources plc Simon Clements/Virginia Bull, Sanlam Securities UK Tel: +44-20-7628-2200Limited (Nomad) Brian Farrell, IBI Corporate Finance Limited (ESM Tel: +353-7662-34800Adviser) Jon Belliss, XCAP Securities PLC (Broker) Tel: +44-20-7101-7070 Michael Padley/Michael Spriggs, Lothbury Financial Tel: +44-20-3440-7620Services Limited Don Hall, Hall Communications Tel: +353-1-660-9377

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