BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources

14 September 2022

BlueRock Diamonds PLC ('BlueRock' or the 'Company')

Board Changes

BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa, announces that Mike Houston has stepped down from his Board position with immediate effect and it is anticipated that David Facey will step down from the Board later this week.  Additionally, Victor Dingle has joined the Board as Chief Executive Officer ('CEO') and Rob Croll has become the new Non-executive Chairman with immediate effect. 

Victor is an experienced executive having served as Chief Financial Officer ('CFO') of a number of public and private companies in sub-Saharan Africa. Victor is currently CEO and CFO of the Teichmann Group, a diverse group of companies with expertise in multi-disciplined construction services, mining, and agriculture and the Company's largest shareholder. Victor has previously served as CFO of MTO Forestry Proprietary Limited, Dangote Cement Limited and Lafarge Cement.

Rob, who joined the board in June 2021 as an Independent Non-executive Director, is an experienced mining engineer.  Based in South Africa, he is has held various senior executive and consulting positions and gained significant exposure to the financial markets. He was previously the Lead Independent Non-Executive Director of Resource Generation Limited and brings with him a strong independent technical and commercial perspective to BlueRock's current operation at Kareevlei and future investments.   

Rob Croll, Non-executive Chairman said, "This is an exciting new phase for the Company having endured several difficult years as a result of the Covid-19 pandemic and extreme weather conditions that delayed the commissioning of the new transformational 1Mtpa plant and the opening up of the Main Pit to optimise its economic depth potential. The high-level review completed in June/July this year has provided a clear but challenging path to optimising production, which in turn will enable us to take advantage of the robust diamond market dynamics. I look forward to updating shareholders of progress on these developments. 

"I would like to thank Mike for his time and vision and wish him every success for the future.  I look forward to working closely with our major shareholder, Teichmann, as well as our new CEO, Victor, as we focus on building value for stakeholders and shareholders alike."

The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Victor Robert George Dingle, aged 59:

*Mr Dingle was a director of Protech Khuthele Holdings Ltd ('Protech') at the time that it  was voluntarily placed into Business Rescue in June 2014. ; On 2 July 2014 an application was filed to enter into solvent liquidation proceedings and a final winding up order was granted on 19 September 2014. According to records held by the Company and Intellectual Property Commission of South Africa, the current status of the business remains under 'Business Rescue' with Mr. Dingle still listed as a director. This is believed to be an administrative error with Mr Dingle no longer being a director and the business having been liquidated in 2014. Mr Dingle does not hold any shares in the Company. As noted above, Mr. Dingle is CEO and CFO of the Teichmann Group, the Company's major shareholder.

There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

**ENDS**

For further information, please visit BRD's website www.bluerockdiamonds.co.uk or contact:

Notes to editors:

BlueRock Diamonds is an AIM-listed diamond producer which operates the Kareevlei Diamond Mine near Kimberley in South Africa which produces diamonds of exceptional quality and ranks in the top ten in the world in terms of average value per carat. The Kareevlei licence area covers 3,000 hectares and hosts five known diamondiferous kimberlite pipes with a combined inferred resource of 10.4 million tonnes / 516,200 carats (February 2021); based on its planned production of 1 million tonnes per annum, this provides a minimum 10-year life of mine.