Kennady Diamonds Updates Kennady North Drill Program

Shares Issued and Outstanding: 28,633,122
TSX-V: KDI

TORONTO, May 1, 2015 /CNW/ - Kennady Diamonds Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI) is pleased to announce the latest drilling results from the Kennady North diamond project located in Canada's Northwest Territories.

Continuing exploration/delineation drilling at the Faraday 2 kimberlite has now defined the kimberlite over a strike of approx. 190 meters from southeast to northwest. The latest drill results from Faraday 2 are detailed in Table 1 below. A location map of drilling at Faraday 2 will be available on the homepage of the Company's website at www.kennadydiamonds.com.

Kennady Diamonds CEO Patrick Evans commented: "Recent drilling has extended the strike of the Faraday 2 pipe-like body further to the southeast towards the eastern shoreline of Faraday Lake. Exploration drilling at the northwest end of the Faraday 2 kimberlite has yet to confirm the direction in which body is heading. We are continuing to test various options to confirm further continuity of Faraday 2."

Table 1
Faraday 2 2015 Spring Drill Program

*Intercepts in sub-vertical holes not true widths
**Includes country rock intercepts

Exploration/delineation drilling commenced at the Faraday 1 kimberlite with an intercept of over 23 meters. Based on drilling to date, it appears that the Faraday 1 kimberlite is tracking from southwest to northeast. The latest drill results from Faraday 1 are detailed in table 2 below. A location map of drilling at Faraday 1 will also be available on the homepage of the Company's website at www.kennadydiamonds.com.

Mr. Evans commented: "While we have achieved some encouraging intercepts at parts of the Faraday 1 kimberlite, results to date indicate that F1 may be a sheet-like body, perhaps comparable to the Kelvin sheet. We have a good deal more drilling to do to confirm the continuity and dimensions of the F1 kimberlite."

Table 2
Faraday 1 2015 Spring Drill Program

*Intercepts in sub-vertical holes not true widths
**Includes minor country rock intercepts

Table 3 below contains the result of the seventh and final confirmation hole drilled at the southeast lobe of the Kelvin kimberlite pipe. The core from the confirmation drill holes will be processed by caustic fusion in order to provide diamond recovery results to support grade modelling of the Kelvin kimberlite.

Table 3
Kelvin Pipe 2015 Spring Drill Program

*Includes minor country rock intercept

Table 4 below contains the results of the final infill/delineation holes drilled at the Kelvin sheet. These drill holes are designed to increase confidence in the continuity of the Kelvin sheet.

Table 4
Kelvin Sheet 2015 Spring Drill Program

*Intercepts in sub-vertical holes not true widths
**Includes minor country rock intercepts

Following the completion of the drilling at the Kelvin sheet, two new exploration targets were tested without intercepting kimberlite at either target.  Testing of further exploration targets is continuing.

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About Kennady Diamonds
Kennady Diamonds Inc. controls 100 percent of the Kennady North project which comprises thirteen leases and claims located immediately to the north and west of the four leases controlled by the Gahcho Kué Joint Venture between De Beers Canada (51%) and Mountain Province (49%) located in Canada's Northwest Territories.

Kennady Diamonds aims to identify a resource along the Kelvin – Faraday kimberlite corridor of between a 10 and 13 million tonnes at a grade of between 2 and 2.5 carats per tonne and also to identify new kimberlites outside of the corridor. The Kelvin – Faraday corridor is a target for further exploration. The tonnage estimate is based on the drilling completed to date. The potential quantity is conceptual in nature as there has been insufficient drilling to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

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Qualified Person
This news release has been prepared under the supervision of Carl G. Verley, P.Geo., who serves as the qualified person under National Instrument 43-101.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING INFORMATION

This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company's strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Kennady Diamonds Inc.