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Dec 14, 2010 - 17:20 PM ET

Lucara Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2010) - Lucara Diamond Corp. (TSX VENTURE:LUC) ("Lucara" or the "Company") reports that it has granted an aggregate of 680,000 incentive stock options to certain directors, officers and other eligible persons of the Company. The options, subject to vesting provisions, are exercisable over a period of three years at a price of $0.95 per share.

On Behalf of the Board,

William Lamb, President and CEO

Lucara Diamond Corp.
Sophia Shane
Corporate Development
(604) 689-7842