Mr. George Read reports

STAR - ORION SOUTH DIAMOND PROJECT REVISED MINERAL RESOURCES ESTIMATE TECHNICAL REPORT FILED ON SEDAR+

The technical report documenting the revised mineral resources estimate (see news release dated July 24, 2024) for the Star-Orion South diamond project of Star Diamond Corp. has been filed on SEDAR+. This technical report has also been posted on the Star Diamond website.

The scientific and technical information contained in this press release has been prepared and verified by A.C.A. Howe International Ltd. under the supervision of Daniel C. Leroux, MSc, PGeo, and the mineral resource estimation methodology under the supervision of Peter Ravenscroft, FAusIMM, of Ravenscroft Mining Advisors, an independent mining consultant, a qualified person within the meaning of National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators. This revised mineral resources estimate uses diamond industry standard methods which are rigorously applied to the Star and Orion South evaluation data, acknowledging the significant control that fundamental kimberlite geology has on the distribution of diamonds within these deposits.

The revised mineral resources estimate will be incorporated into a reoptimized open-pit mine plan for the project, which will include a re-evaluation of mineral reserves and an economic assessment based thereon. It is anticipated this work will be completed during 2024-2025 and will result in an updated prefeasibility study, including a revised statement of mineral reserves for the project, if warranted, and an economic assessment based thereon. Accordingly, the mineral resources and economic assessment previously disclosed by Star Diamond for the project should no longer be relied upon.

All technical information in this press release has been prepared under the supervision of George Read, senior vice-president, corporate development, a registered professional geoscientist in the provinces of Saskatchewan and British Columbia, and Mark Shimell, vice-president, exploration, a registered professional geoscientist in the provinces of Saskatchewan and Alberta, who are Star Diamond's qualified persons under the definition of National Instrument 43-101.

About Star Diamond Corp.

Star Diamond is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of Star Diamond trade on the Toronto Stock Exchange under the trading symbol DIAM. Star Diamond's most significant asset is its 100-per-cent interest in the Fort a la Corne project in central Saskatchewan. These kimberlites are located in close proximity to established infrastructure, including paved highways and the electrical power grid, which provides significant advantages for future mine development.

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