About Mountain Province DiamondsLocated in the heart of Canada's diamond district, Gahcho Kué is the world's largest and richest new diamond mine development. Mountain Province is a 49% participant with De Beers Canada in the Gahcho Kué JV. The Gahcho Kué Project consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 31.3 million tonnes grading 1.57 carats per tonne for total diamond content of 49 million carats. A March 2012 independent valuation estimates the actual value of the Gahcho Kué diamonds at $186 per carat. A December 2010 feasibility study filed by Mountain Province (available on SEDAR) indicates that the Gahcho Kué project has an IRR of 33.9%. Qualified Person This news release has been prepared under the supervision of Carl G. Verley, P.Geol. who serves as the qualified person under National Instrument 43-101. Forward-Looking Statements This news release may contain forward-looking statements, within the meaning of the "safe-harbor" provision of the Private Securities Litigation Reform Act of 1995, regarding the Company's business or financial condition. Actual results could differ materially from those described in this news release as a result of numerous factors, some of which are outside the control of the Company. SOURCE Mountain Province Diamonds Inc.