Orapa AK10 Kimberlite Mineral Chemistry Assessment Indicates +50 Carat Diamond Potential

TORONTO, Nov. 28, 2018 - Pangolin Diamonds Corp. (“Pangolin” or the “Company”) (TSX-V: PAN) is pleased to announce the results of an AK10 kimberlite indicator mineral chemistry classification by CF Mineral Research Ltd., Kelowna, Canada. Pangolin has been granted the sole and exclusive option to earn up to a 75% interest in the Orapa AK10 kimberlite (see news July 17, 2018).

Highlights Include:

• +50 carat diamond potential;
• Positive results from 8,969 individual kimberlite indicator mineral analyses;
• 12.6% of clinopyroxenes, 16.3% garnets and 9.5% spinels are related to diamond inclusion chemistry;
• Karowe Mine 4.4 km away and infrastructure including power and roads is well established; and
• A 500 tonne mini-bulk sample scheduled to commence Q1 2019 to confirm diamondiferous character of the kimberlite.

A database of mineral chemistry analyses from the Orapa AK10 kimberlite consisting of 8,969 analyses of individual kimberlite indicator minerals (KIMs) were submitted to CF Mineral Research for classification using their proprietary classification scheme for KIMs to assess the diamond potential of the Orapa AK10 kimberlite.

A total of 1,908 clinopyroxene analyses were classified. The result of the classification found that 12.6% of the clinopyroxenes, both eclogitic and peridotitic, are associated with a derivation from the diamond stability field. The mineral chemistry of 15.4% of these diamond inclusion type clinopyroxenes is consistent with the chemistry of clinopyroxe diamond inclusions recovered from +50 carat diamonds. This result is consistent with the close spatial association with the large stone producing Karowe Mine of Lucara Diamond Corp. which is a mere 4.4 km distant.

The classification of 4,066 garnets resulted in 16.3% of the garnets, both peridotitic and eclogitic, having mineral chemistry consistent with a derivation from the diamond stability field. The majority of these garnets are derived from the lherzolitic mantle environment, consistent with the presence of clinopyroxes from the diamond stability field.

The number of spinels with greater than 45 wt% Cr2O3 totalled 1,050. It was found that 9.5% of these chrome-rich spinels had a mineral chemistry similar to spinels recovered as diamond inclusions worldwide. These diamond inclusion spinels are derived from the harzburgitic environment, similar to the source of the G10 garnet population in the Orapa AK10 garnet suite.

The KIMs classification results indicate that the Orapa AK10 kimberlite has sampled several source areas (lherzolitic, harzburgitic and eclogitic) in the diamond stability field. A significant proportion of the clinopyroxenes are similar in chemical composition to clinopyroxenes extracted as diamond inclusions from +50 carat diamonds.

Dr. Leon Daniels stated, “As a co-founder of African Diamonds where I identified the potential of the AK6 kimberlite (Karowe Mine) I am very excited about the positive classification of the KIMs of the AK10 kimberlite to potentially host large +50 carat Type 11a diamonds. This is a step in the right direction for the Company to have a two prong strategy of commencing with a 500 tonne mini-bulk sample of the AK10 kimberlite to confirm the reported diamondiferous character of AK10, dove-tailed with our own homegrown exploration activities in search of a new kimberlite field in Botswana where we have recovered 27 diamonds in soils roughly 90 km SE of the Orapa Kimberlite Field, the largest being 0.19 carats thus far.”

Quality Control and Quality Assurances

Quality assurance procedures, security, transport, storage, and processing protocols conform to chain of custody requirements. CF Mineral Research Ltd. of Kelowna, B.C. is ISO 9001:2008 certified and ISO 17025:2005 compliant lab.

The technical disclosure in this news release has been reviewed and approved by Dr. Leon Daniels, BSc., BSc. Honours Geology, PhD and a Qualified Person as defined by National Instrument 43-101.

Pangolin Diamonds Corp. – Contact Information

For more information on Pangolin Diamonds Corp., please refer to the website at http://pangolindiamonds.com.

Follow us on Twitter: @pangolindiamond

Find us on Facebook: Pangolin Diamonds Corp.

Scott Young, Investor Relations
Phone: +1.705.888.2756
Email: syoung@pangolindiamonds.com

Graham C. Warren, Chief Financial Officer
Phone: +1.416.594.0473
Fax: +1.416.594.1630
Email: gwarren@pangolindiamonds.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.