Lithoquest Diamonds Commences North Kimberley 2018 Field Program

VANCOUVER, B.C., June 20, 2018 – Lithoquest Diamonds Inc. (TSX-V: LDI) (“Lithoquest”, or the “Company”) today announced that it has initiated the 2018 field season on its 100% owned North Kimberley Diamond Project located in Western Australia.

Initial work includes re-opening the road into the project area. Exploration fieldwork is scheduled to begin in the first week of July and has two objectives:

  1. To drill test high-priority Targets 702 and 701 in order to:
  • Confirm the presence of kimberlite.
  • Obtain first estimates of kimberlite size and geometry.
  • Determine if geological variations (phases) exist within each kimberlite body.
  • Acquire samples of kimberlite for micro-diamond testing.

  2. To identify and evaluate potential drill-targets using geological mapping, prospecting and ground geophysical surveying.

“The 2018 field season is an important milestone in the Company’s development,” stated Bruce Counts, President and CEO of Lithoquest. “The upcoming drill program is the first step in determining if a new and distinct field of diamond bearing kimberlites is present on the North Kimberley Diamond Project.”

Mobilization of the exploration camp will commence immediately after the road is re-opened.  The exploration team, including Traditional Owners from the community of Kalumburu, are scheduled to arrive on site in the first week of July.

Drilling is expected to commence in late July and will begin at Target 702 where micro-diamonds and kimberlite indicator minerals with diamond inclusion chemistry have been recovered from rock samples. It is anticipated that approximately 1,000 m will be drilled at Target 702 before the equipment is moved to Target 701.

The exploration field-work program is expected to take approximately eight weeks to complete. Drill results will be released later in the year.

Qualified Person

The technical contents of this news release have been reviewed and approved by Bruce Counts, P. Geo., President, CEO and a Director of Lithoquest Diamonds Inc. and Qualified Person under National Instrument 43-101.

About Lithoquest Diamonds Inc.

Lithoquest is a Canadian diamond exploration company focused on the discovery and development of economic diamond deposits on its 100%-owned North Kimberley Diamond Project located in Western Australia, approximately 65km east of the community of Kalumburu.

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

FORWARD LOOKING INFORMATION

This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company’s strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

For further information, please contact:

Lithoquest Diamonds Inc.

+1 (778) 373-1485

info@lithoquest.com