AIM: KDR

www.kareliandiamondresources.com

Disclaimer
This presentation has been prepared by Karelian Diamond Resources PLC (“Karelian Diamonds”). This document contains backgroundinformation about Karelian Diamonds current at the date of this presentation. The presentation is in summary form and does not
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Karelian Diamond Resources

2KDR focuses in Finland and Northern Ireland
Lahtojoki Diamond Deposit
Mining permit at advanced stage
Pink diamond presence enhances financial
potential
Diamond Exploration Programme in Finland
Discovery of green diamond and diamondiferous
kimberlites at Kuhmo
Belfast

Northern Ireland
Initial diamond exploration led to positive Nickel –Copper – PGE results

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Dublin3

Directors and Senior Management
Richard Conroy(Executive Chairman)
Professor Richard Conroy has been involved a number of major mining discoveries,including the Galmoy zinc orebodies which led to the revival of the Irish base metals
industry and the Pogo gold deposit in Alaska (now in production as a world class gold mine).

Maureen Jones

Seamus P. FitzPatrick(Managing Director)(Deputy Chairman)

Maureen Jones has over 30 years executive experience in the natural resource
sector including bringing the Galmoy mine through the mine permitting anddevelopment process and the discovery of the gold trends in the Longford
Down Massif.
Howard Bird(Director)

Howard Bird is an internationally experienced geoscientist. Former Senior Vice
President of Global Exploration for Southern Era Diamonds Involved in thediscovery to production success of several new economic diamond deposits.
.

Brendan McMorrow(Non-Executive Director)

Brendan McMorrow has over 25 years’ experience in the financial aspects of
the natural resource industry, incorporating a senior role with Ivernia West plc
in the discovery and development of the world class Lisheen zinc mine.

Sorċa Conroy

Cathal Jones(Business Development)(Chief Financial Officer)

Dr Sorċa Conroy has over 15 years experience in directorship roles in thenatural resources industry. Her experience also includes market facingroles with ING Bank, Canaccord Adams and Hoodless Brennan.

Karelian Diamond Resources

Seamus FitzPatrick has worked in both corporate finance and private equity inLondon and New York with Morgan Stanley, JP Morgan and Banker’s Trust. In
1999 he co-founded CapVest of which he is Managing Partner (which has raised
funds in excess of £2.0 billion)

Cathal Jones has over 15 years corporate finance advisory experience withDeloitte and PwC, and a further 9 years direct senior executive natural resource
industry experience in oil and gas and mineral exploration and development.

4Project Management and Technical TeamDr Sorca Conroy – Business Development
Dr Sorċa Conroy has over 15 years experience in directorshiproles in the natural resources industry. Her experience also
includes market facing roles with ING Bank, Canaccord
Adams and Hoodless Brennan.

Cathal Jones – Chief Financial Officer
Cathal Jones has over 15 years corporate finance advisory
experience with Deloitte and PwC, and a further 9 years
direct senior executive natural resource industry experiencein oil and gas and mineral exploration and development.

Kevin McNulty – Senior Geologist
Kevin McNulty has over 25 years’ international exploration
experience, primarily in the gold industry. He was involved withPioneer’s (now AngloGold Ashanti’s) Teberebie gold mine inGhana, and with other gold exploration projects in Ghana(including Sefwi and Nangodi). He also worked in Niger andBurkina Faso and South America prior to joining Karelian in2005. He is a past President of the Irish Association of EconomicGeologists, a Fellow of the Society of Economic Geologists, amember of the European Federation of Geologists and aprofessional geologist of the Institute of Geologists of Ireland.

Andrew Murrells – Senior Geologist
Andrew Murrells has over 15 years of international
mineral experience, working in Liberia and Cameroon ongold, iron and uranium exploration projects before
joining Conroy Gold in 2011. He was part of the team
involved in discovering the billion tonne iron deposit at
Nkout in Cameroon. He is a past President of the Irish
Association of Economic Geologists.

Terhi Tulenheimo– Project Geologist - Finland
Terhi Tulenheimo has over 20 years experience inexploration particularly diamond exploration in Finland
including at European Diamonds where she worked on theLahtojoki project.

Karelian Diamond Resources

Howard Bird – Diamond Consultant
Howard Bird is an internationally experienced geoscientist.
Former Senior Vice President of Global Exploration forSouthern Era Diamonds Involved in the discovery toproduction success of several new economic diamonddeposits.
Paul Dinkin – Proect Geologist - IrelandPaul Dinkin has over 15 years of international mineralexperience, including project development in Africa, SouthAmerica and the Middle East.

5Why Diamonds
Diamond demand has historically been driven by a growing population andincreasing prosperity internationally
Diamond supply expected to wane as older diamond mines near the end of theirlife with few new significant diamond discoveries
While demand for clear diamonds has been challenged by the advances insynthetic diamonds, naturally occurring coloured diamonds are highly sought
afterCompany’s Lahtojoki deposit contains pink diamonds and other coloured
diamonds which can command prices up to 20 times that of colourless diamonds
Revenue from pink diamonds accounted for 50% of total revenue at Rio Tinto’s
Argyle mine even though the pink diamonds contributed less than 5% of thediamond total production of the mine

Karelian Diamond Resources

6Karelian diamond exploration target
Karelian’s exploration target is the discovery of a world class diamond deposit inFinland similar to the world class diamond deposits found in similar geology
elsewhere in the Karelian Craton
The presence of the Lahtojoki diamond deposit confirms the diamond potentialof the Finnish section of the Karelian Craton and also the potential for coloured

diamonds
Karelian owns the Lahtojoki diamond deposit which contains coloured diamonds

and proposes to develop the deposit as a diamond mine

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Kimberlite Pipe: Essential pathway for
diamonds formed deep below Earth’s crust

Volcaniclastic Kimberlite Pipe - Cross-section
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Lahtojoki Diamond Deposit - Location

Karelian Diamond Resources9

Lahtojoki Diamond Deposit
An independent Preliminary Economic Assessment (PEA) has been completed.
This was primarily based on the technical data of previous operators.
However, the deposit is known to contain pink and other coloured diamonds.
The PEA does not take into account the numbers and percentages of the pinkand coloured diamonds. These figures have yet to be precisely determined.
Their presence could substantially increase profitability.
Permission to proceed with development at Lahtojoki is currently at anadvanced stage

Karelian Diamond Resources10Lahtojoki Deposit – PEA Highlights
PEA suggests 2.11M Carats recoverablewith a gross value of US$211M
5.6 million tonnes at c.40 cpht
9 year mine life with payback in year 2
IRR 55% and NPV (@8%) US$39.1M
Financial effect of the presence of pink andother coloured diamonds not accounted

LAHTOJOKI DIAMOND DEPOSIT

for in PEA

Mining operation recommended

Karelian Diamond Resources

11Mining in Finland
Finland has a highly skilled work force, advanced technical and logisticalservices and an established mining industry

Infrastructure is excellent with direct access by road and readily available
adjacent power supply to the Lahtojoki diamond deposit

Relatively few other diamond deposits are at such an advanced stage ofdevelopment, or as accessible, as Lahtojoki . Such as those in the north of
Canada or the outback in Australia.

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Lahtojoki Deposit – Diamond Quality

Lahtojoki Diamonds
High (60%) gem quality diamonds
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Lahtojoki Deposit – Pink Diamonds

Lahtojoki Pink Diamonds
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Lahtojoki Mine – Proposed Development
A simple open pit mine is proposed,with an in-wall ramp extension
ESG
Diamond recovery is one of thecleanest forms of mining

LAHTOJOKI PROPOSED OPEN PIT
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Lahtojoki – Adjacent potential
Lahtojoki Mining Concession

Lahtojoki Kimberlite

Kimberlites tend to occur inclusters
Potential for additional resource
expansion in adjacent areasPermits

Kimberlite boulders

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Diamond Exploration Focus – Kuhmo Region

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Diamond Exploration Programme
A systematic exploration programme has been carried out by Karelian in theFinnish Sector of the Karelian Craton.
The Company has focussed on the diamond potential, including coloured

diamonds, of the Kuhmo region to the northeast of Lahtojoki
Geological and geophysical studies have been followed up by an extensive
till sampling programme resulting in the discovery of kimberlitic indicator

trains and also the discovery of a green diamond

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Kimberlite Indicator Minerals “KIMs”
Mantle minerals known as kimberlite indicator minerals “KIMs” including diamonds areassociated with kimberlite bodies. Examples include:
Chrome – pyropes(Garnet group)

ChromeDiopside (CD)Diamonds

G10 Chrome - pyropes are particularly important as they have been found as inclusions indiamonds.
G9 Chrome – pyropes are found in the same stability field as diamonds

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Diamond Exploration
Backtracking Kimberlite Indicator Minerals
Glaciers eroded the top of theKimberlite indicator minerals dispersion train

kimberlite dispersing the kimberlite

within glacial sediments

indicator minerals within the glacial

Ice Flowsediments
0,4 km

1,3 km2,0 kmGlacial Sediments
KIMs

Bedrock

Diamondiferous
Kimberlite Body
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Green Diamond Discovery by Karelian
Sparkling clear crystal with cleanfaces

Diameter 0.8mm
ODM Laboratory, in Canada,
which recovered the diamond has
processed more than 50,000
exploration till samples worldwide
but has only recovered less than
10 naturally occurring diamonds
including the Karelian discovery
seen here.

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Exploration to discover source
Follow up exploration has been focussed on the source of the green
diamond
UAV Geophysics survey identified a number of kimberlite targets
Till Sampling together with a pitting and drilling programme isunderway

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UAV Survey: Geophysics Targets
The UAV geophysics survey yielded a series of targets. These geophysics targets werefollowed up by a till sampling programme for kimberlitic indicator minerals

Karelian Diamond Resources

23Till Sampling Process

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Proximity to Source of Green Diamond
16 of the 25 basal till samples contained kimberlite indicator minerals whichwere sent for Electron Microprobe Analysis

Analysis showed the presence of diamond stability field garnets (G10D) andother diamond-facies garnets (G4D and G5D)
The results indicate a deep mantle source for kimberlite originating from thediamond stability field where diamonds are formed
The results are a clear indicator both of the diamond potential of the Kuhmo
Green Diamond Target area and of proximity to the source of the green
diamond

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Garnet Chemistry

Data used in RNS – 9 Aril 2024
Karelian Diamond Resources26

COLEBROOKE PROJECT
Nickel, CopperandPlatinum Group Elements

Colebrooke Project –Nickel, Copper and Platinum Group Elements

Significant potential discovered for Nickel, Copper and Platinum Group
Elements in County Fermanagh in Northern Ireland
Discovery of potential followed an extensive exploration programme
including stream sediment sampling
Potential confirmed by an Independent Expert Report

Karelian Diamond Resources28Colebrooke Project – Exploration Targets
Nickel (Ni)Copper (Cu)
Plantinum Group Elements (PGEs)
Zinc (Zn) and Lead (Pb) with Critical Minerals
Indium (In)
Tellurium (Te)Germanium (Ge)Karelian Diamond Resources29Colebrooke Project – Licence Area

KDR2/22

KDR1/19

KDR3/22Colebrooke Project –Licence Area and Geology of Northern Ireland

Karelian Diamond Resources31Colebrooke Project Discovery
of indicator minerals for Nickel-Copper-PGEs
The indicator minerals recovered during the sampling programme
were indicative of the presence of a magmatic sulphide rich NickelCopper-PGE (Platinum-Group Elements) source
Magmatic, massive sulphide indicator minerals (MMSIM’s) Chalcopyrite, and Low Chrome Diopside with significant numbers ofChromite (CR) and Forsterite Olivine (FO) were reported - allindicative of a Ni-Cu-PGE source
Over 1,000 indicator minerals were recovered, primarily MMSIM’s
Chromite and Forsterite with some Chalcopyrite

Karelian Diamond Resources32Colebrooke Project –Microprobe Analysis of Chromites
Microprobe analysis of the Chromites showed high zinc oxide values
These high zinc oxide values in Chromites are a signature of sulphiderich Nickel-Copper- PGE deposits.
Microprobe analysis of the Chromites also revealed Fe-Ni-S(Pentlandite) inclusions
This is significant, as such inclusions demonstrate the presence ofNickel mineralisation

Karelian Diamond Resources

33Colebrooke Project –Stream Sediment Sampling

Stream sediment sampling in County Fermanagh

Karelian Diamond Resources34Colebrooke Project – Dromore Gravity Highand Associated Geochemistry
The Dromore gravity high is apositive gravity anomaly on
the line of the DonegalKingscourt dyke swarm

Nickel Copper PGE
TargetThe Dromore gravity high is
associated with TELLUS
geochemical nickel andcopper anomalies
Interpreted as a Tertiary
basic intrusive centre withthe dykes acting as feeders
to tholeiitic lava flows, sinceeroded.
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35Colebrooke Project – Similarities to systems
hosting world-class Ni-Cu- PGE Deposits

Expert review noted marked resemblance to the Nickel, Copper andPlatinum Group Elements in the Mid - Continental Rift System of North
America
Also to the continental flood basalts; i.e. Norilsk (Triassic) and theEmeishan Large Igneous Province in China, that host world-class Ni-CuPGE deposits

Karelian Diamond Resources36Colebrooke Project –Critical Minerals and Metals
Nickel (Ni)
Platinum (Pt)and Palladium (Pd) are
critical minerals and metals

Copper, Nickel and PGE are needed
for clean energy technologies
Indium (In)
Tellurium (Te)Germanium (Ge)Indium, Tellurium and Germanium
are also critical metals (primarilyextracted as a by-product of Zinc Lead mining)
Karelian Diamond Resources

UK criticality assessment of technology critical minerals and metals
Commissioned Report CR/21/120
37Colebrooke Project –Exploration for Kimberlite Chromites
The Colebrooke project was prompted by:Reports of the recovery of kimberlite chromites in Northern IrelandandThe historic discovery of the Brookeborough diamond in theColebrooke river in County Fermanagh, in Northern Ireland
Similarly to Voisey Bay the exploration has identified NickelCopper-PGE targets

Karelian Diamond Resources38Colebrooke Project –Also Historic Regional Platinum Occurrences
The Curran Nugget is reported as being derived from theUrals (Doughty et al 1982, Nawaz 1993). This evidence isprimarily based on a similar analytical result to a Nizhny
Tagil nugget. In the paper by Doughty et al. they compare
the Curran Nugget, Nizhny Tagil nugget, and Platinum

grains from Co. Wicklow.

2.5 cmPlatinum nugget “Curran Nugget”
discovered in Curran, Larne,
July 1979 (weight c.48g)

In 1981 a boulder was discovered in Carlingford, Co. Louth with a grade 0.4 g/t Au, 1.5 g/t Pt,
1.5 g/t Pd, 1.7% Cu and 1.0% Ni
In 1990 a dyke was discovered with narrow lens of basic dyke material hosted within a more
major dyke of similar composition. The detailed setting suggested that the mineralised
dyke is a later intrusive stage. Mineralogically the showing was similar to the “discoveryboulder” with disseminated chalcopyrite and phyrrotite. Grade 0.21 g/t Pt, 0.19 g/t Pd,
0.61% Cu and 0.08% Ni over 10cm
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39Colebrooke Project – Nickel-Copper-PGE
discoveries associated with Diamond Exploration
Diamond exploration has in the past led to the discovery ofNickel-Copper-PGE
The classic example of this is the world class Nickel discovery atVoisey’s Bay in CanadaThis famous discovery was made in 1994 during a diamondexploration programme, the deposit subsequently being
purchased by INCO for $4.3 billion

Karelian Diamond Resources

VOISEY’S BAY NICKEL DEPOSIT

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