An anonymous director reports

STAR DIAMOND CORPORATION ANNOUNCES DATE OF SPECIAL MEETING OF SHAREHOLDERS AND CONVERSION OF PROMISSORY NOTES

Further to the company's news release issued on May 16, 2025, a special meeting of Star Diamond Corp.'s shareholders will be held on July 29, 2025. Only persons registered as holders of common shares of the company as of the close of business on June 13, 2025, are entitled to receive notice of and to vote at the meeting.

The meeting is being held in connection with the previously announced proposed private placement of units of the company to Spirit Resources s.a.r.l. for gross proceeds of $4-million.

At the meeting, holders of common shares will be asked to, among other things, approve: (i) the waiver of the application of the company's amended and restated shareholder rights plan dated May 30, 2023, to the private placement and the termination of the shareholder rights plan; (ii) the issuance of common shares and common share purchase warrants on the terms of the private placement, including the private placement materially affecting control of the company; (iii) the election of two individuals nominated by Spirit to the board of directors of the company in connection with the completion of the private placement; and (iv) any such other matters as may be agreed by the company and Spirit.

The company also announces that it has issued an aggregate of 3,399,817 common shares at a price of 4.5 cents per conversion share upon the voluntary conversion of existing convertible promissory notes of the company issued on Feb. 27, 2025. The issuance is in full satisfaction of principal and interest in the aggregate amount of $152,991.78 due under the promissory notes. The conversion shares are subject to a statutory hold period expiring on June 28, 2025. Unless voluntarily converted prior to the completion of the private placement, the completion of the private placement would trigger the automatic conversion of the balance of the principal and interest then due under the promissory notes in accordance with the terms of the promissory notes.

About Star Diamond Corp.

The company is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the company trade on the Toronto Stock Exchange under the trading symbol DIAM. The company's most significant asset is its interest in the Fort a la Corne property in central Saskatchewan. These diamondiferous 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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