Mountain Province Diamonds Announces Fourth Quarter and Full Year 2020 Production Results

TSX and OTCQX: MPVD

TORONTO and NEW YORK, Jan. 13, 2021 /PRNewswire/ -- Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD) (OTCQX: MPVD) today announces production and sales results for the fourth quarter ended December 31, 2020 ("the Quarter" or "Q4 2020") from the Gahcho Kué Diamond Mine ("GK Mine"). All figures are expressed in Canadian dollars unless otherwise noted.

Q4 and FY 2020 Highlights
(all figures reported on a 100% basis unless otherwise stated)

• 9,796,823 total tonnes mined during the quarter, a 12% decrease on comparable period (Q4 2019: 11,089,408). 35,870,474 total tonnes mined during FY 2020, a 17% decrease from comparable period (FY 2019: 43,224,827).
  
  
• 840,261 ore tonnes mined during the quarter, a 6% decrease on comparable period (Q4 2019: 890,886). 3,286,843 ore tonnes mined during FY 2020, a 1% increase from comparable period (FY 2019: 3,247,324).
  
  
• 736,138 ore tonnes treated during the quarter, a 21% decrease on comparable period (Q4 2019: 936,903). 3,245,941 ore tonnes treated during FY 2020, a 9% decrease from comparable period (FY 2019: 3,580,551).
  
  
• 1,521,617 carats recovered during the quarter at an average grade of 2.07 carats per tonne, 23% lower than comparable quarter (Q4 2019: 1,977,438 carats at 2.11). 6,518,261 carats recovered during FY 2020 at an average grade of 2.01 carats per tonne, 4% slightly lower than comparable period (FY 2019: 6,820,631 carats at 1.90).

Q4 and FY 2020 Production Statistics

	2020 Q4	2019 Q4	YoY Variance	FY 2020	FY 2019	YoY Variance
Total tonnes mined (ore and waste)	9,796,823	11,089,408