TSX: LUC $0.

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KAROWE OVERVIEW

Location Botswana

Ownership 100% - Lucara Botswana (Pty) Ltd.

Royalty 10%

Type Hard rock. Open pit. Mine plan to depth of 324 m.

Status Mine development and production

Resources See Link

and Reserves

Mine Life Open pit operations to 2026 with further

underground potential to 2040. Mining License in
respect of the Karowe Mine has been approved by
the Botswana Government to 2046.
Throughput 2.5 - 2.8 mtpa

2022 Capital In 2022, capital costs for the underground

Program expansion are expected to be up to $110 million
and will focus on the commencement of main
shaft sinking activities, the commissioning of the
bulk power supply 132 kV line and substations and
detailed engineering for the underground
development. Sustaining capital and project
expenditures are expected to be up to $17 million
with a focus on completion of a community
sports facility, dewatering activities and an
expansion of the tailings storage facility.

Operating $29.50 -$33.50 per tonne processed

Costs
(Estimate)

2022 300,000-340,000 carats per year

Diamonds
Recovered
(Estimate)

2022 $195-$225 million (updated from guidance

Diamond released in Nov. 2021)
Revenue
(Estimate)

Diamonds Large high value diamonds including exceptional

stones
Diamond 1. Regular tenders of diamonds less than 10.8
Sales carats held quarterly
2. Sales of diamonds in excess of 10.8 carats
through HB Antwerp Supply Agreement
3. Regular sales through Clara

Annual Project Description and Geological Information

Information AIF
Form (AIF)

Underground 1. Link to the 2019 Karowe Mine Underground

Expansion Feasibility Study Technical Report Botswana
Program 2. Link to the 3D Model

Cautionary and Forward Looking Information

OPERATIONS
Karowe Mine
Karowe Overview
Lucara Botswana Management Team
Reserves and Resources
Quarterly Production Stats
Underground Technical Report
Qualified Person
Tailings Management
Non Technical E&S Summary
Virtual Tour (2017-2018)
Exploration
 Vancouver Corporate Office
Suite 502
1250 Homer Street
Vancouver, BC Canada V6B 2Y5
T: +1 604 674 0272
E: info@lucaradiamond.com
Contact: Investor and Public Relations

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