Burgundy signs agreement for recovery guarantees Page 1

CALGARY, Alberta, August 14, 2024 (GLOBE NEWSWIRE) — Burgundy Diamond Mines Limited (ASX:BDM) (Burgundy or the company) is pleased to confirm that the agreement with the guarantors in relation to the recovery bonds has been formally concluded and signed by all parties, in accordance with the previously agreed principles (see the ASX announcement of 13 March).^and2024).

Burgundy is required to provide security with key government agencies to ensure that the remediation of its mining properties is completed, as required by relevant legislation in Canada and the Northwest Territories. The security will be provided in the form of cash, letters of credit or suretyships, or a combination thereof.