PINK DIAMONDS DISCOVERED AT MERLIN MINE

Merlin Diamonds Limited ("Merlin") (ASX: MED) is pleased to announce that 32 pink diamonds totalling 6.639 cts have been recovered from mining operations at the Merlin Diamond Mine in the Northern Territory (see figure 1 overleaf).

The Company is encouraged by the discovery of these pinks at Merlin and it is a good indicator that more significant discoveries will be made as mining in the five pits - Excalibur, Gwain, Ywain, Ector and Kaye - commences.

Mining operations are expected to ramp up significantly this quarter as contractor Rusca Bros Services begins extracting fresh ore from the first pit. Further diamond discoveries will materialise.

The Company will provide shareholders with further updates shortly.

JOSEPH GUTNICK

Executive Chairman

Merlin Diamonds Limited ABN 86 009 153 119

Level 1A, 42 Moray Street, Southbank VIC 3006

T: +61 3 8532 2858 F: +61 3 8532 2805

W:www.merlindiamonds.com.au E: info@merlindiamonds.com.au

Image 1: Pink diamonds totalling 6.639 cts recovered from Merlin Diamond Mine

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Merlin Diamonds Limited published this content on 17 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 July 2018 00:46:03 UTC