Renewal of Prospecting Permit Carmel

Shefa Gems Ltd.

("Shefa Yamim" or the "Company")

Renewal of Prospecting Permit Carmel

Shefa Gems (LSE: SEFA), a company focused on advanced exploration and development of multi-gemstone projects in Northern Israel, is pleased to announce that its prospecting permit has been renewed, covering a total of 314,478 Dunams (31,447 hectares) , by the Ministry of Energy, Natural Resources Administration, Israel.

The permit provides the Company prospecting rights for diamonds, gold and precious stones over the permitted areas for a period of a year and entitles the Company to conduct all required actions connected with prospecting for the minerals specified above.

Prospecting Permit 837A13 for the Carmel site covers an area of 314,478 Dunams (31,447 hectares). The permit replaces the expired permits (837A12 and 899A7) and combines them into one prospecting permit instead of two after reprioritisation and reducing the area of the buried anomaly of Ramot Menashe and two volcanic bodies.

Shefa Gems has three permits and license in total.  In addition to permits 837A13 the Company has exploration permits 869B11 covering 173,636 Dunams (17,363 hectares), and a prospecting license 869C10 that covers an area of 252 Dunams (25.2 hectares) in the Kishon Mid Reach Zone 1.  The three permits extend over an area of approximately 488,366 Dunams (48,836 hectares) that includes the Kishon River, the volcanic bodies on Mount Carmel, the Zevulun and Yizre'el valleys and their margins - Tivon-Alonim Hills and Nazareth range.

Vered Toledo, CEO of Shefa Gems, said: "The renewal of this permit is a further step for the Company in the advanced exploration of the primary volcanic bodies on Mount Carmel, which are the primary source of the unique and rare gemstones discovered by Shefa Gems at the Kishon Mid Reach, especially Carmel Sapphire^TM and the rare natural moissanite. Meanwhile, the Company continues to progress towards Discovery Certificate (the next step in the application for a Mining License) in Zones 1 and 2 of the Kishon Mid Reach".

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About Shefa Gems Ltd

Shefa Gems Ltd (LSE: SEFA) is a multi-commodity explorer of precious stones operating in Northern Israel. Exploration activity is managed by professionally skilled and technically competent personnel and is accompanied by an international team of geological experts with decades of proven experience in their fields. It has two flagship projects, Mount Carmel and the Kishon Reach.

Shefa Gems established with her International geological consultant team a "Source to Sink" geological model and the presence of a Target Mineral Assemblage ("TMA Suite") in both primary volcanic sources and in secondary alluvial deposits lying within the Kishon catchment, on Mount Carmel and in the Zevulun and Yizre'el valleys and their margins - Tivon-Alonim Hills and Nazareth range. The TMA suite comprises Precious Stones (Diamond, natural moissanite that is rare globally, sapphire, ruby, Carmel Sapphire™, garnet, hibonite, spinel, ilmenite) and Heavy Minerals that include zircon and rutile.

All exploration activities are conducted under international standards and the internationally recognised SAMREC 2016 Code. Furthermore, its three (3) permits, granted to it by the Commissioner of Mines at the Ministry of Energy, Natural Resources Administration, Israel, extend over an area of approximately 488,366 Dunams (48,836 hectares) that includes the Kishon River, the volcanic bodies on Mount Carmel, the Zevulun and Yizre'el valleys and their margins - Tivon-Alonim Hills and Nazareth range. The Company upholds environmental values and protects the nature in the areas where it operates, cooperating fully with all authorities.  

Alongside its exploration activities, the Company is building on the launch of the "Heaven on Earth" jewellery collection and developing the Company's "Mine to Market" strategy to promote unique jewellery collections utilising Shefa Gems' suite of precious gemstones.

The exclusive "Heaven on Earth" collection is now available to view online on the website of the designer Yossi Harari at: https://www.yossiharari.com/collections/heaven-on-earth-1

For further information please visit the website at www.shefagems.com