VANCOUVER, B.C., December 17, 2018 – Lithoquest Diamonds Inc. (TSX-V: LDI) (“Lithoquest”, or the “Company”) today announces it has granted incentive stock options to certain of its directors, officers and consultants to purchase up to an aggregate of 1,040,000 common shares of the Company (the “Options”). The Options are exercisable for a period of five years, at a price of $0.16, being the closing price of the Lithoquest common shares on the TSX Venture Exchange on December 14th, the last trading day prior to the date of the grant. All Options were granted in accordance with the Company’s stock option plan.

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.

For further information, please contact:

Lithoquest Diamonds Inc.

+1 (778) 373-1485

info@lithoquest.com