Botswana Diamonds Secures Diamond Acreage

20 January 2025

Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

Botswana Diamonds Snaps Up Diamond Acreage Following Artificial Intelligence Programme

Highlights

·    Three Prospecting Licences applied for to secure key anomalies identified by our recent Artificial Intelligence ("AI") programme, including the highest priority target

·    A fourth anomaly identified on an existing Botswana Diamonds licence close to KX36 - the Company's high grade diamond deposit.

As announced on 12 December 2024, the Company's AI analysis has identified seven kimberlite anomalies. Botswana Diamonds already holds a prospecting licence over one of the targets and has now applied for licences containing three more.

The variables used in the AI models were, inter alia:

-     Mineral chemistry indicating diamond potential

-     Presence of slightly abraded stones indicating proximity to source

-     Proximity to major structures

-     Strong geophysical anomalies

-     Shallow Kalahari cover

-     Group 2 kimberlites generally having low magnetic signatures

-     Ilmenite poor

The new licence application covers areas:

-     North West of Mahalapye in the Serowe area;

-     South West of Jwaneng close to the South African border; and

-     North East of Lerala in eastern Botswana.

One particular anomaly, located South-West of Debswana's Jwaneng Mine, is of particular significance. The anomaly signatures are ideal, and the anomaly suggests more than one potential kimberlite.

The fourth anomaly, which is close to KX36 and the previously identified twelve and six hectare gravity anomalies, is also of particular interest to the Company. Botswana Diamonds has long believed that KX36 is one of a kimberlite cluster. To date, no other diamondiferous kimberlites have been discovered in the surrounding area. This AI-identified anomaly may help confirm the existence of a kimberlite cluster around KX36.

If kimberlites containing diamonds are found, they should greatly enhance the commercial viability of the KX36 discovery. Larger projects justify infrastructure in remoter locations.

In tandem with this diamond work, the AI models continue to trawl through the databases looking for gold, copper and lead zinc opportunities. Initial indications are also positive.

Chairman, John Teeling, commented: "Kimberlites are difficult and very expensive to find. Less than 8,000 have ever been discovered worldwide. To find seven potential kimberlites in a few months is an impressive accomplishment for the Company. We have taken the next step in exploration by applying for licences over prospective ground. One of the applications covers an anomaly with many of the characteristics that are vital for a discovery. This anomaly is close to our KX36 discovery and has the potential to hold a cluster of kimberlites, as theory would suggest. Another, close to Jwaneng, is the highest ranked anomaly in the analysis. It is our belief that there are more diamonds mines to be found in Botswana. We really are well positioned".

Managing Director, James Campbell, commented: "There is a saying in the exploration industry that every time there is a significant change in technology, the exploration clock starts to tick again. This happened with the re-discovery of AK6 (Karowe) by African Diamonds plc and De Beers where there was a step change in geophysical and drilling technology. I believe it is happening again with the maturing of Artificial Intelligence exploration solutions combined with massive data sets. I look forward to having "boots on the ground" to take these exciting targets to the next stage."

This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the Geological Society of South Africa, a Fellow of the Southern African Institute of Mining and Metallurgy, a Fellow of the Institute of Materials, Metals and Mining (UK) and with over 38-years' experience in the diamond sector.

A copy of this announcement is available on the Company's website, at www.botswanadiamonds.co.uk

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

Enquiries:

www.botswanadiamonds.co.uk

ENDS