UK Investor Show, London, 5 April 2014

Paragon Diamonds Limited / Index: AIM / Epic: PRG / Sector: Resources 3 April 2014 Paragon Diamonds Limited (`Paragon Diamonds' or the `Company') Presenting at the UK Investor Show, London, 5 April 2014 Paragon Diamonds Limited, the AIM quoted diamond development and productioncompany, is pleased to announce that it will have an investor exhibition standat the UK Investor Show at the Queen Elizabeth II Conference Centre, BroadSanctuary, Westminster, London SW1P 3EE on Saturday, 5 April 2014 and will alsobe speaking at the show between 15.20 - 15.40pm in Theatre D. Paragon Diamonds' management will be available at stand W25 during the courseof the day and Managing Director Stephen Grimmer will outline during his speechdetails of the Company's development plans as it advances its flagship LemphaneDiamond Kimberlite Pipe Project in Lesotho (`Lemphane') towards production.Located close to the world class Letšeng mine, Lemphane is the last knownworld-class sized kimberlite to be developed in Lesotho. Extensive work has been undertaken on Lemphane by the Company with a bulksampling programme, deep drilling and an initial scoping study all completeddemonstrating the economics of the project, and a 75 tonne per hour plantsecured and ready to be mobilized to site. A ten year Mining Lease has beengranted to Paragon Diamonds' 85% owned Lesotho subsidiary Meso Diamonds by theGovernment of Lesotho, and Stage 1 production is due to commence in 2014. As part of the bulk sampling programme, over 300 carats were recoveredincluding several high value diamonds of up to 8.9 carats in size andindividual diamond values in excess of US$2,400/ct, demonstrating the potentialfor Lemphane to hold large and valuable diamonds. The Company looks forward to meeting existing and prospective investors. Forfurther information on the event, and to register, please visithttp://www.ukinvestorshow.com/ **ENDS** For further information please visit www.paragondiamonds.com or contact: Martin Doyle Paragon Diamonds Limited +44 (0) 20 7099 1940 Simon Retter Paragon Diamonds Limited +44 (0) 20 7099 1940 Lindsay Mair Sanlam Securities UK +44 (0) 20 7628 2200 Catherine Miles Sanlam Securities UK +44 (0) 20 7628 2200 Felicity Edwards St Brides Media and Finance Ltd +44 (0) 20 7236 1177 Frank Buhagiar St Brides Media and Finance Ltd +44 (0) 20 7236 1177 Notes Paragon Diamonds has a pipeline of projects in Lesotho, Botswana and Zambia,the most advanced of which is its Lemphane Kimberlite Pipe Project in Lesotho,located close to the world class Letšeng mine, Lesotho's largest diamond mine.Lemphane is the last known world-class sized kimberlite to be developed inLesotho. Among the stones recovered in the Company's 2013 bulk samplingprogramme were several large high value stones of up 8.9 carats in size andindividual diamond values in excess of US$2,400/ct have been achieved,demonstrating the potential for Lemphane to hold large and valuable diamonds.The first of a two stage production programme is due to commence in 2014 whichwill further define the resource at Lemphane. As increased tonnages ofkimberlite are processed the proportion of larger diamonds recovered willimprove, increasing the average value of diamonds recovered at the project, aswas the case at Letšeng. Stage 1 production will cover a two year period during which approximately 1 Mtof kimberlite will be mined and processed out of the currently estimated 48.6Mtof kimberlite (to 350m depth) at the site, using a 75 tonne per hour processingplant. The Company is targeting 20,000 carats during Stage 1 production with anestimated minimum value of US$750 per carat that is expected to generaterevenues in excess of US$8m per annum. Cash flow will be reinvested to furtherdevelop Lemphane and complete a bankable feasibility study, a 3D geologicalmodel and a substantial inferred resource ahead of commencing the Stage 2production phase. Stage 2 will see production ramped up to 3Mt/year with peakproduction expected to hit 65,000 carats per year of high value diamonds.