Diamcor Mining Inc. announced that it plans to accelerate certain portions of the Company's planned phase two of expansions at its Krone-Endora at Venetia project (the ‘Project') due to the current strength shown in rough diamond pricing and potential for additional rough diamond shortages moving forward. The areas that will be accelerated include the installation of additional screening, water management systems, and various other associated infrastructure items. The installation of these items ahead of schedule is aimed at increasing the current processing volumes and efficiencies of the completed phase one expansions, while continuing to support the Company's overall planned phase two expansions. While the installation of additional X-Ray diamond sorting units remains a priority, these items are largely driven by manufacturer delivery times, and the Company is confident that the previous upgrades made to the Project's current X-Ray units and final recovery systems will support the increased volumes, and these efforts will essentially serve to expedite a portion of the planned increases in processing volumes ahead of the Company's original plans.

Acceleration Highlights: Processing Volume Increases - The accelerated additions are designed to compliment the phase one upgrades already completed and increase efficiencies surrounding the removal of soil and clay fines at the Project's Main Treatment Plant. The Company believes this addition alone will provide it with the potential to increase current hourly feed-rates and processing volumes above those initially targeted for the phase one upgrades. Water Recovery Improvements - Planned enhancements to the Project's water recovery system are also being accelerated to support the higher tonnages generated by the screening additions.

This addition is also expected to lower water consumption on a per ton basis through improvements in the recovery of wastewater. Reductions in Operating Cost on a Per Ton Basis - The combined upgrades are expected to also lower the Project's operating costs on a per-ton basis due to a reduction in consumables as a result of more efficient screening. Material handling and equipment cycle times are also expected to improve.

Continued Support of Further Growth - The items being accelerated will retain their original design and scope in line with the Company's entire phase two plans which remain on target for completion on or before June 30, 2022. No Disruptions to Current Operations - The installation of these accelerated phase two upgrades will be done in conjunction with ongoing processing and is not expected to cause any material disruptions to current operations.