Mr. Jonathan Comerford reports

MOUNTAIN PROVINCE DIAMONDS ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

The nominees listed in the management proxy circular for the 2023 annual general meeting of shareholders were elected as directors of Mountain Province Diamonds Inc. Detailed results of the vote for the election of directors held at the virtual annual meeting on June 22, 2023, are set out in the attached table.

At the annual meeting, KPMG LLP was reappointed as the auditor of the company at remuneration to be fixed by the directors. The company's long-term equity incentive plan, together with all unallocated options, rights and other entitlements thereunder, was reapproved by a majority of shareholders.

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 joint venture consists of several kimberlites that are actively being mined, developed and explored for future development. The company also controls over 113,000 hectares of highly prospective mineral claims and leases surrounding the Gahcho Kue mine that include an indicated mineral resource for the Kelvin kimberlite and inferred mineral resources for the Faraday kimberlites. Kelvin is estimated to contain 13.62 million carats in 8.50 million tonnes at a grade of 1.60 carats per tonne and a value of $63 (U.S.) per carat. Faraday 2 is estimated to contain 5.45 million carats in 2.07 million tonnes at a grade of 2.63 carats per tonne and a value of $140 (U.S.) per carat. Faraday 1-3 is estimated to contain 1.90 million carats in 1.87 million carats at a grade of 1.04 carats per tonne and a value of $75 (U.S.) per carat. All resource estimations are based on a one-millimetre diamond size bottom cut-off.

Qualified person

The disclosure in this news release of scientific and technical information regarding Mountain Province's mineral properties has been reviewed and approved by Matthew MacPhail, PEng, MBA, and Tom E. McCandless, PhD, PGeo, both employees of Mountain Province Diamonds and qualified persons as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.