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Lithoquest Diamonds Commences 2018 Drill Program on the North Kimberley Diamond Project, Identifies Three New High Priority Targets

July 31, 2018

VANCOUVER, B.C., July 31, 2018 – Lithoquest Diamonds Inc. (TSX-V: LDI) (“Lithoquest”, or the “Company”) today announced that it has initiated the 2018 drill program on its 100% owned North Kimberley Diamond Project located in Western Australia.

A truck mounted diamond drill rig has arrived on site and has been deployed to Target 702 where the Company recovered micro-diamonds from a small sample of outcrop (see April 2, 2018 news release). Lithoquest anticipates drill testing targets 701 and 702 during the program. The drill rig is configured to recover HQ and NQ sized core suitable for geological interpretation and diamond analysis, with the results to be released as they become available.

In addition, field work currently underway on the property has identified three new high-priority kimberlite targets. The targets are characterized by coincident ground geophysical anomalies and are supported by historical results which include kimberlite indicator minerals as well as diamonds. An application for a Program of Work to drill the new targets has been submitted to the Western Australia Department of Mines, Industry Regulation and Safety. Field work to identify additional targets of interest will continue through August.

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.


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