Fortbridge Media Release

Botswana Diamonds plc [AIM:BOD] - Botswana Diamonds PLC Interim Results for the Six Months Ended 31 December 2012

Botswana Diamonds PLC (�Botswana Diamonds� or the �the Company�)
Interim Results for the Six Months Ended 31 December 2012

Statement Accompanying the Interim Results

The six months to the end of 2012 were very active for Botswana Diamonds (AIM and BSE: BOD). Our focus is Botswana but we also have operations in Cameroon and Mozambique. Botswana is the best diamond address in the world. It is the largest diamond producer by value, has five kimberlite diamond mines including the richest, Jwaneng, and the second largest in the world, Orapa. The newest mine, Karowe, discovered by the principals of Botswana Diamonds and operated by Lucara Diamond Corp., is producing large beautiful and rare diamonds.

We have three programmes on-going in Botswana: a joint venture with a large diamond multinational to identify new diamondiferous kimberlites, an exploration programme on our wholly owned licences in the Orapa region and, finally, an option on 13 blocks in the Gope region of Botswana.

Results from the first year�s work with our international partner produced a series of targets in the Orapa region. We have applied for ground covering these targets and await the award of licences. It is important to note what is different about this approach. Our partner has a technology which they believe can identify diamondiferous kimberlites. The technology which has contributed to positive findings in a different global region is centred on the use of computer based algorithms and uses as much geophysical and geochemical data as can be gathered. It identifies very specific areas ranging in size from 3 sq km to 20 sq km.

The partners have agreed the outline of an operating joint venture on the target areas. This awaits final approval by the Board of our partner. At the same time both parties have agreed to extend the original Technical Co-operation Agreement to cover additionally the Gope and Jwaneng areas of Botswana. This lasts until June 30th 2014.

While awaiting new licences and partner Board approval we have been active on our own account. We completed our review of PL170, our wholly owned licence in the Orapa region, and identified drill targets. We drilled four holes in early 2013 and while all four hit the expected intrusions they were not kimberlites. A review of this licence is on-going.

In early 2013 we entered into an agreement with a private South African company to option 13 licences in the Gope area of Botswana. This area has a number of known kimberlites as well as the developing Ghaghoo mine of Gem Diamonds and the recent KX36 discovery by Petra Diamonds. We are gathering and reviewing all available data on the ground. We will use the services of our partner to outline and identify any targets on the block. Following this we will negotiate long-term agreements on selected areas. We have a team of experienced geologists working with us on a contractual basis. They are managed by a senior executive also on a contract basis.

While our focus is Botswana, we have been active on our licence in Cameroon and we have recently also optioned two blocks on the Save River in western Mozambique.

Cameroon has great potential but is a very difficult operating environment due to remoteness and two rainy seasons. We hope to reach agreement on a joint venture with our adjacent neighbours, CNK of Korea, who are developing a new diamond mine. Discussions are slow and cover a wide range of possibilities.

Our entry to Mozambique arises from our frustrated attempts to develop diamond operations in Zimbabwe. The Save River drains the Marange area of Zimbabwe where several mines are producing collectively up to 12 million carats a year. The belief and hope is that the Save contains alluvial diamonds washed down from Marange. We have a 180 day option on two good blocks along the river. We will explore the blocks and, if results are positive, negotiate a joint venture with the licence -holder, Morminas of Portugal.

Future

While the fundamentals for diamonds look extremely robust with the Bain report predicting until 2020 and beyond a 6 per cent annual growth rate in diamond demand against an expected 2.5 per cent growth rate in supply, this is not transferring into diamond companies share prices. Explorers in general are out of favour. This is normal at this stage of the economic and stock market cycles. As confidence returns to economies, investors will be prepared once again to take greater risks. Exploration is risky, but to the victor go the spoils. Botswana Diamonds has good ground in the best diamond address in the world. It has an outstanding partner with technology never before used in Botswana. These factors decrease the risk and improve the chances of our success.

John Teeling
Chairman

22 March 2013

Enquiries:

Botswana Diamonds PLC
John Teeling, Chairman +353 1 833 2833
Robert Bouquet, Director + 32 477 228851

Westhouse Securities Limited
Richard Baty +44 (0)20 7601 6100

Keith Bayley Rogers & Co. Limited
Niall Pearson +44 (0)20 3100 8139
Hugh Oram +44 (0)20 3100 8170

Blythe Weigh Communications +44 (0)20 7138 3204
Tim Blythe +44 (0) 7816 924626
Paul Weigh +44 (0) 7989 129658
Robert Kellner +44 (0) 7800 554377

Pembroke Communications
David O�Siochain +353 1 649 6486