Karelian Diamond Resources plc (“Karelian Resources”) is a mineral exploration and development Company focused on its flagship Lahtojoki diamond project in Finland, alongside base metals exploration in Northern Ireland.

The Company received the Lahtojoki Mining Concession Certificate from the Finnish Safety and Chemical Agency (TUKES), entitling it to utilise the minerals within the concession and enabling it to advance the Lahtojoki diamond deposit toward development. The deposit contains a significant proportion of coloured (pink) diamonds, which typically command a substantial premium over white stones, and would represent the first diamond mine in the European Union.

The rationale for the Company's Finnish programme is the discovery of a world-class diamond deposit comparable to the Lomonosov and Grib deposits, which lie in similar geology across the border from Finland.

In the Kuhmo area of Finland, the Company has recovered a green diamond and identified a series of potentially diamondiferous kimberlite targets. Follow-up excavation and drilling identified olivine lamproite in the drill holes, allowing the Company to infer that the discovery lies on the periphery of a larger intrusive system. Work is ongoing to locate the source of the green diamond.

The Company is also running an exploration programme for nickel, copper and platinum-group elements at its Colebrooke project in Northern Ireland, where preliminary results have been highly encouraging.