Mr. George Read reports

STAR DIAMOND CORPORATION TRADING AND EQUIPMENT UPDATE

Star Diamond Corp. management was informed on Jan. 6, 2025, that the entire 70.7-million-share block of Star Diamond held by a former Fort a la Corne project partner has now been sold. The 61.12-million block of Star Diamond shares that traded on the Toronto Stock Exchange on Jan. 6, 2025, was purchased by an international investor with interests in diamonds. This removes a substantial overhang in the market for the company's shares.

Subsequent discussions with this investor have revealed that it may have an interest in assisting Star in moving forward with the Fort a la Corne diamond project in Saskatchewan and discussions with this group will continue.

The company is also pleased to announce that it has reached an agreement with Ritchie Bros. Auctioneers Ltd., including its subsidiary, IronPlanet, for the sale of the Bauer trench cutter drilling rig and its associated equipment and spares. This very specialized and purpose-built drilling and sampling equipment had an original purchase price in excess of $10-million. When Ritchie Bros. posts this equipment on its website, a link will be made available on the Star Diamond website.

All technical information in this news 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 interest in the Fort a la Corne property in central Saskatchewan. These kimberlites are located in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development.

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