Kennady Diamonds Announces Maiden Indicated Mineral Resource of 13.62 Million Carats for the Kelvin kimberlite

13 December 2016

• 8.5 million tonnes at 1.6 carats per tonne and US$63 per carat

Toronto, Ontario: December 12, 2016 – Kennady Diamonds Inc. (“Kennady”, the “Company”) (TSX-V:KDI) is pleased to announce the completion of a maiden Mineral Resource estimate for the Kelvin kimberlite, located at the Company’s 100 percent owned Kennady North Project, NWT, Canada. An Indicated Mineral Resource of 13.62 million carats of diamonds is contained in 8.50 million tonnes of kimberlite, with an overall grade of 1.60 carats per tonne and an average value of US$63 per carat. The resource has been calculated with a 1mm diamond bottom cutoff size, which is considered a reasonable cutoff for a commercial mining scenario. The resource was determined through the collective efforts of Aurora Geosciences Ltd., Mineral Services Canada Inc., SRK Consulting Inc., and JDS Energy & Mining Inc., who were engaged by the Company to participate in the exercise. 

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