Fortbridge Media Release

Botswana Diamonds [AIM:BOD] - Interim Results for the Six Months Ended 31 December 2014

Botswana Diamonds PLC (�Botswana Diamonds� or the �the Company�)

Interim Results for the Six Months Ended 31 December 2014

Botswana Diamonds plc (AIM: BOD) ("Botswana Diamonds" or "the Company") today announces financial results for the six months ended 31 December 2014.

Statement Accompanying the Interim Results

In a resources world filled with gloom I am happy to report good progress on our operations in Botswana. The 8 person Alrosa geological team combined with our own staff are completing the second phase of exploration on three of our joint venture blocks in the Orapa area of Botswana. This work is focusing on areas identified in the 2014 exploration campaign. Results will begin to flow by mid-2015. I am hopeful that drilling targets will be pinpointed.

The Industry
The diamond industry glistens in a resource sector depressed by weak demand. There is a clear supply-demand gap opening. Demand for gem stones in Asia, the Middle East and parts of Africa is growing due to an emerging middle class. The forecasted (Northland Capital Partners� Report) demand-supply gap begins in 2017 and by 2023 could be as much as 100 million carats a year or as low as 34 million carats a year. The strong demand for diamond jewellery is not being met by discoveries. There have been no major discoveries since 2005. The high value Karowe Mine in Botswana, where three of the directors of Botswana Diamonds played an active part in the discovery, came on stream in 2012 � but is only producing approximately 400,000 carats a year of premium product. Established diamond mines are getting deeper and more costly to operate. The result of these factors is likely to be stronger prices in the future.

Botswana Diamonds/Alrosa Joint Venture
Botswana Diamonds and Alrosa have a 50/50 joint venture currently focused on the Orapa area of Botswana. Orapa is home to some of the world�s greatest diamond mines. Alrosa believe that their technology, experience and people can identify diamondiferous kimberlites through up to 100 metres of overburden � as is commonly found in Botswana. Their skills were honed in Siberia where they have found and developed up to 18 diamond mines. We contribute data banks and the on-the-ground experience of our team.

The initial analyses, in 2012/2013, of quantities of secondary data identified prospective targets. We applied for ground and successfully obtained some licenses from the government of Botswana. A preliminary exploration programme in 2014, including 4 drill holes on PL117, was as much a test of the techniques as a targeted programme. Results supported the techniques with kimberlitic stringers found in two of four holes. As a result of our work and expenditure on PL117 we have earned a 51% position on the PL117 licence.

The current programme, which began in September 2014 and will run through 2015, started on 5 licences: PLs 206-210. These licences were selected by Alrosa. Detailed geophysics and soil sampling was carried out in 2014. Their results were analysed in St. Petersburg and a new 2015 work programme agreed on three licences. This involves highly focused soil sampling and geophysics.

The Alrosa approach to diamond prospecting differs from the rest of the industry in that:

 Experienced qualified geologists are used for soil sampling
 Mobile laboratories allow mineralogical analyses in the field. The results are obtained in days rather than months. This focuses exploration and saves huge amounts of time and money
 There is a focus on chrome diopsides and garnets (Kimberlite Indicator Minerals, or �KIMs�). Alrosa believes they can identify how far these KIMs have travelled and can therefore work back to the source
 The mineralogists have fingerprints of the diamonds, garnets and other KIMs from local mines. They compare their findings against these. This greatly increases the efficiency in the attempt to find new kimberlites
 Finally, KIM concentrates from the field are sent for microanalysis to St. Petersburg. Based on the work done in 2014 the current exploration is now focused on three Prospecting Licences, 206, 207, 210
 On PL 206, 5 areas of high KIM concentration is being explored to see if the minerals are from known Orapa clusters or from new kimberlites
 On PL 207, where two diamonds were discovered in the earlier work, the focus is on the North West where high KIM concentrations are aligned with magnetic anomalies. We recently announced the award of PL 085 adjacent to this block. We believe there is potential on both blocks
 On PL 2010, mainly pyrope garnet KIMs were discovered. The analyses suggested they have not travelled far and, therefore, heavy concentrate sampling is ongoing to get a better understanding of the area

As of mid-March 2015 several thousands of KIM concentrate samples from the current programme have been shipped to St. Petersburg. We expect results to follow in June. The joint programme is fully funded to Q3.

BOD/Alrosa Joint Venture � New Ground
The exploration techniques of Alrosa mean a high turnover of ground. Substantial initial analyses are followed by intense on site work and in field analyses. Ground that fails to reach target levels is discarded.

In the past year the joint venture has begun to look at potential targets outside of the Orapa area while continuing to identify new ground of geological potential in the Orapa area. The joint venture has applied for and been awarded additional ground in the area.
Ground has been applied for in other areas which for competitive reasons we will not identify. We are also in negotiations for future farm-in arrangements with various PL-holders on ground identified by the JV, which is held by others.

Other Activities
Botswana Diamonds held an option to acquire up to a 95% interest in the 13 licence Brightstone block in the Gope region of the Kalahari. A new diamond mine, Ghaghoo, has recently opened in this area. A large base metal producer has decided to enter the diamond sector. They have become operator of the block and they have an exploration team on the ground. We have contributed much of our Gope area data bank to the new company. In return for conceding our rights and contributing our data we will end up with a 15% free carry through all phases of exploration up to the completion of a Bankable Feasibility Study. Our interest will be held through a shareholding in a private Botswana company.

This is a good deal for all parties concerned. It brings fresh eyes and ideas to the block.

Outside of the Joint Venture, the Botswana Diamonds team have continued to work on our own data. We have proposals on some of our existing ground and interesting ideas on new areas.

Future
Diamonds is the industry to be in. If you want to be in diamonds you must be in Botswana which is the world�s leading producer of high quality stones. In Botswana, it makes sense to be where diamonds are likely to be found, the Orapa cluster. In the Orapa area it makes sense to bring in fresh eyes, ideas and technology to seek out hard to find diamond deposits. That, in a paragraph, is the Botswana Diamonds strategy � the best industry, the best area and the best technology. But remember it is still exploration, a high risk high reward venture.

Resources in general and exploration in particular have suffered greatly in recent years. Share prices have been decimated � 90% plus falls. Investors have lost faith. Funding has grown increasingly difficult. But believers remain. Success will produce substantial returns.

John Teeling
Chairman

27th March 2015

Enquiries:

Botswana Diamonds PLC
John Teeling, Chairman +353 1 833 2833
Jim Finn, Director
Westhouse Securities Limited
Martin Davison +44 (0) 20 7601 6100
Robert Finlay
Dowgate Capital Stockbrokers Limited
Jason Robertson +44 (0) 129 351 7744
Blytheweigh +44 (0) 20 7138 3204
Halimah Hussain +44 (0) 7725 978 141
PSG Plus
Aoife Ross +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055