Kennady Provides Update on the Faraday Bulk Sampling Program

8 February 2017

• 100 tonnes of kimberlite sampled from Faraday 2 to date
• Second Large Diameter RC Drill Rig to be Mobilized

Toronto, Ontario: February 8, 2017 – Kennady Diamonds Inc. (“Kennady”, the “Company”) (TSX-V: KDI) is pleased to announce that the bulk sampling of the Faraday 2 kimberlite is progressing well with 12 drill holes completed and 100 tonnes of kimberlite collected since the program began on January 20.  
Kennady Diamonds President and CEO, Dr. Rory Moore stated: “We are delighted with the very productive early start to the 2017 winter program, which was facilitated by having stored an RC drill rig on site after completion of the 2016 program. Moreover, we have decided to mobilize a second RC rig up the winter road this week in order to take further advantage of optimal drilling conditions.”
The Company plans to recover a total of approximately 570 tonnes of kimberlite from the Faraday kimberlites during the 2017 winter program, including 260 tonnes from Faraday 2, 300 tonnes from the Faraday 3 and approximately 10 tonnes from Faraday 1.  The objective of the program is to advance the Faraday 2 and 3 kimberlites to an inferred resource status and advance the Faraday 1 kimberlite to a Target for Further Exploration (TFFE).  It is anticipated that diamonds weighing more than 1,000 carats will be recovered from the bulk samples and the diamond parcel will be used for revenue modeling of the Faraday 2 and 3 kimberlites. Diamonds recovered from the Faraday 1 mini-bulk sample will be used to correlate diamond grade and quality potential with the nearby Faraday 3 kimberlite. The bulk sampling program is expected to be completed in early Q2 of 2017.
The Company also announces that on February 6, 2017, a total of 225,000 restricted stock units were granted to officers, directors, and employees with 50% of the total units vesting immediately and the remainder vesting six months from the date of issue.

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