Star Diamond Corporation provided this update on Star Diamond's acquisition of Rio Tinto Canada Inc.'s 75% interest in the Fort a la Corne Joint Venture pursuant to the agreement dated November 28, 2023 entered into between Star Diamond and RTEC. Star Diamond and RTEC have worked together diligently to submit the documentation required to complete the transfer of the Permit to Operate for the Fort a la Corne properties ("the Project"). This process requires that an updated Decommissioning and Reclamation Plan be submitted to the Saskatchewan Ministry of the Environment (the "MoE") for its approval.

Star Diamond andRTEC have been in active discussions with the MoE and, based upon those discussions, Star Diamond believes that all documents required by the MoE have been submitted for its review. Based upon discussions with the MoE, Star Diamond currently expects that the transfer of the Permit To Operate will be completed prior to the end of March 2024.