Mountain Province Diamonds Announces Diamond Recovery Results from 2014 Tuzo Deep Drill Program

TORONTO and NEW YORK, March 4, 2015 /PRNewswire/ --

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Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPV, NASDAQ: MDM) is pleased to announce the diamond recovery results from the 2014 Tuzo Deep drill program.

In July 2013 Mountain Province released an updated independent National Instrument 43-101 resource statement for the Gahcho Kué project incorporating the results of the 2012 Tuzo Deep drill program. The Tuzo resource from a depth of 300 meters to 360 meters was upgraded from an inferred resource to an indicated resource, extending the indicated resource from surface to a depth of 360 meters. In addition, an inferred resource was declared for Tuzo Deep from a depth of 360 meters to 564 meters below surface.

The 2014 Tuzo Deep drill program successfully confirmed the continuity of the Tuzo kimberlite to a depth of more than 740 meters below surface. Despite challenging drilling conditions, five holes were drilled resulting in the recovery of 434 kilograms of kimberlite, which was processed by caustic fusion at the Geoanalytical Laboratories Diamond Services of the Saskatchewan Research Council, which is accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as a testing laboratory for diamond analysis. Table 1 below summarizes the diamond recovery results from the 2014 Tuzo Deep drill program.

Table 1 - Tuzo Deep Caustic Fusion Diamond Recovery Results 

   
Number and Weight of Diamonds According to Sieve Size Fraction (mm)
          +0.106 +0.150 +0.212 +0.300 +0.425 +0.600
          -0.150 -0.212 -0.300 -0.425 -0.600 -0.850
Number of
Diamonds   946    592    410    267    122    95   
Weight
(carats)   0.02   0.03   0.07   0.13   0.17   0.36  

                                                       (Table continues)
Number and Weight of Diamonds According to Sieve Size Fraction (mm)
           +0.850 +1.180 +1.700 +2.360 +3.350          Totals
           -1.180 -1.700 -2.360 -3.350 -4.750 +4.750
Number of
Diamonds    48     26     7      1      0      0       2,514
Weight
 (carats)    0.53   0.87   0.63   0.43   0.00   0.00    3.24