An anonymous director reports

MOUNTAIN PROVINCE DIAMONDS ANNOUNCES DIAMOND RECOVERY RESULTS FROM 2014 TUZO DEEP DRILL PROGRAM

Mountain Province Diamonds Inc. has released 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 Kue project, incorporating the results of the 2012 Tuzo Deep drill program. The Tuzo resource from a depth of 300 metres to 360 metres was upgraded from an inferred resource to an indicated resource, extending the indicated resource from surface to a depth of 360 metres. In addition, an inferred resource was declared for Tuzo Deep from a depth of 360 metres to 564 metres below surface. The 2014 Tuzo Deep drill program successfully confirmed the continuity of the Tuzo kimberlite to a depth of more than 740 metres 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. The attached table summarizes the diamond recovery results from the 2014 Tuzo Deep drill program.

    
                  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   

                      +0.850    +1.180    +1.700    +2.360    +3.350    +4.750  Totals
                      -1.180    -1.700    -2.360    -3.350    -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 

Notes:
(1) The total sample weight is 0.434 tonne.
(2) The total weight of recovered diamonds greater than 
    0.85 millimetre is 2.46 carats.
(3) The sample grade of diamonds greater than 0.85 millimetre 
    is 5.67 carats per tonne.

The Gahcho Kue joint venture will assess the results of the 2014 Tuzo Deep drill program to determine possible next steps to upgrade the Tuzo Deep resource further to depth. While construction of the Gahcho Kue mine is under way, no further deep drilling will take place at Tuzo.

Mountain Province Diamonds is a 49-per-cent participant with De Beers Canada in the Gahcho Kue diamond mine located in Canada's Northwest Territories. The Gahcho Kue project consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 35.4 million tonnes grading 1.57 carats per tonne for total diamond content of 55.5 million carats. Gahcho Kue is the world's largest and richest new diamond development project. A 2014 National Instrument 43-101 feasibility study report filed by Mountain Province (available on SEDAR) indicates that the Gahcho Kue project has an internal rate of return of 32.6 per cent. The Gahcho Kue joint venture has received approval for a Class A land use permit and Type A water licence, permits required for the completion of construction of the Gahcho Kue diamond mine. Site preparation commenced in December, 2014, and the overall project is on schedule for first production during the second half of 2016.

Qualified person

This news release has been prepared under the supervision of Carl G. Verley, PGeo, who serves as the qualified person under NI 43-101.

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