Mr. Patrick Evans reports

MOUNTAIN PROVINCE DIAMONDS ARRANGES C$100M PRIVATE PLACEMENT

Mountain Province Diamonds Inc. has entered into an agreement with a syndicate of underwriters led jointly by BMO Capital Markets, RBC Capital Markets and Scotia Capital Inc., under which the underwriters have agreed to buy, on a bought-deal basis by way of private placement, 15 million common shares of the company, at a price of $5 per common share, for gross proceeds of $75-million.

Concurrent with the offering, the company intends undertaking a non-brokered private placement of five million common shares of the company at a price of $5 per common share. The non-brokered private placement will be sold to Bottin (International) Investments Ltd. and other qualified investors.

The company intends to use the net proceeds of the offering for the continued development of the company's Gahcho Kue project and for general corporate purposes.

The offering and the non-brokered private placement are expected to close on or about Oct. 16, 2014, and are subject to the company receiving all necessary regulatory approvals, including the approval of the Toronto Stock Exchange and NYSE MKT.

We seek Safe Harbor.