Funding Secured from
Large Enterprise Tariff Loan Facility
Calgary, Alberta – Burgundy Diamond Mines Limited (ASX:BDM) (Burgundy or the Company) advises that its wholly owned subsidiary, Arctic Canadian Diamond Company Ltd. (Arctic) has secured an up to C$115 million loan (Loan Facility) through Canada’s Large Enterprise Tariff Loan (LETL) facility. The LETL facility is managed by the Canada Enterprise Emergency Funding Corporation (CEEFC), a subsidiary of Canada Development Investment Corporation (CDEV), and provides financial support to large Canadian enterprises impacted by actual and potential tariffs and countermeasures.
Chief Executive Officer and Director Jeremy King commented:
“I would like to thank CEEFC and the Government of Canada for their support of the northern diamond mining industry, which is an economic driver for many communities and thousands of people in the Northwest Territories. This loan is critical to assisting Burgundy and Ekati as it attempts to navigate rough diamond markets impacted by the current 50% US tariff on imports from India, where 90% of rough diamonds globally are cut and polished.
I would also like to thank Burgundy’s senior debt holders, environmental surety providers and trade creditors. Their support and forbearance have provided Burgundy and Ekati with the opportunity to restructure its balance sheet as required by the terms of the Loan Facility.
I acknowledge the support of the Government of the Northwest Territories and Tłı̨chǫ Government, Łutsël K’é Dene First Nation, Yellowknives Dene First Nation, the North Slave Métis Alliance, Hamlet of Kugluktuk and the Kitikmeot Inuit Association. Their support has been critical to the long-term success of Ekati, and it is appreciated. Importantly, the Indigenous development corporations in the Northwest Territories—namely the Tłı̨chǫ Investment Corporation, Det’on Cho Corporation, Metcor Inc., and Denesołine Corporation Ltd.—have actively endorsed Burgundy’s participation in the LETL program.
Rough diamond markets continue to be highly challenging for Ekati, and the Loan Facility provides the opportunity to continue operations whilst working toward a significantly lower cost profile, with a focus on higher-value diamond deposits within the Ekati complex.
In the medium term, we are seeking to establish underground operations at our high-value previously mined Fox deposit which has a 12+ year mine life and represents the next chapter for Ekati.”
Additional details regarding the LETL facility may be found in Burgundy’s December 18th, 2025 ASX release.
Contacts
Investor enquiries
investor@burgundydiamonds.com
Media enquiries
communications@burgundydiamonds.com
About Burgundy Diamond Mines Limited
Burgundy Diamond Mines is a premier, independent, global-scale diamond company focused on capturing margins across the entire value chain from mining and production to the sale of diamonds. Burgundy’s strategic approach involves building a balanced portfolio of diamond projects located in favourable jurisdictions, including the globally ranked Canadian mining asset Ekati. Burgundy’s unique mine to market business model ensures total chain of custody and provides traceability along every step of the process, safeguarding the ethical production of the diamonds from mine to point of sale. Founded in Perth, Western Australia, Burgundy is led by a world-class management team and Board, combining global expertise with a commitment to sustainable and responsible diamond operations.
Caution regarding Forward Looking Information
This document contains forward looking statements concerning Burgundy Diamond Mines Limited. Forward looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements in this document are based on Burgundy’s beliefs, opinions and estimates as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions or estimates should change or to reflect other future developments.