Gahcho Kué Receives Environmental Impact Review Board Approval

        Gahcho Kué Receives Environmental Impact Review Board Approval

PR Newswire

YELLOWKNIFE, TORONTO and NEW YORK, July 22, 2013

YELLOWKNIFE, TORONTO  and NEW  YORK, July  22, 2013  /PRNewswire/ -  De  Beers 
Canada and Mountain Province Diamonds (TSX: MPV, NYSE MKT: MDM) are pleased to
announce that the Mackenzie Valley Environmental Impact Review Board  (MVEIRB) 
has  concluded  the  Gahcho  Kué  Environmental  Impact  Assessment  and   has 
recommended approval  of  the proposed  Gahcho  Kué diamond  mine  subject  to 
measures and follow-up programs.

In a July 19, 2013 letter to  the Minister of Aboriginal Affairs and  Northern 
Development Canada, the Honourable Bernard  Valcourt, the MVEIRB stated:  "The 
Gahcho Kué Panel recommends, pursuant  to sub-section 134(2) of the  Mackenzie 
Valley Resource Management Act,  that this development  be allowed to  proceed 
subject to implementation of the measures and follow-up programs described  in 
this Report which  are necessary  to prevent  potentially significant  adverse 
impacts on the environment." A full copy of the Report of Environmental Impact
Review and Reasons for Decision is available at www.reviewboard.ca.

Glen Koropchuk,  De Beers  Canada  Chief Operating  Officer, stated:  "We  are 
pleased to receive the Report of  Environmental Impact Review and Reasons  for 
Decision by  the Mackenzie  Valley Environmental  Impact Review  Board on  the 
proposed Gahcho Kué diamond  mine. This represents  an important step  forward 
for the  proposed new  diamond mine.  We are  reviewing the  Report to  better 
understand the implications of the measures and follow-up programs recommended
by MVEIRB. We look forward to proceeding to the next stages in the  regulatory 
approval process.

"We want to thank the Panel and staff of the MVEIRB for considering all of the
evidence  in  preparing   the  Report.  We   also  appreciate  the   continued 
participation  by  Aboriginal  parties  and  other  community  and  regulatory 
stakeholders as the Gahcho Kué Project moves ahead."

Patrick Evans,  Mountain  Province Diamonds  President  and CEO,  added:  "The 
Gahcho Kué joint  venture has  successfully demonstrated to  the Review  Board 
that the Gahcho Kué diamond mine can be successfully constructed and operated.
Completion of the environmental review is a significant milestone".

The Gahcho Kué Project is a joint venture between De Beers (51%) and  Mountain 
Province Diamonds  (49%).  Located  at  Kennady  Lake,  280  km  northeast  of 
Yellowknife, the Gahcho  Kué Project will  recover an average  of 4.5  million 
carats of diamonds  annually over  an 11  year life  of mine.  The Gahcho  Kué 
diamond mine will employ up to 700 people during construction and between  360 
and 380 during operations.

About De Beers Group

De Beers Group is  a member of  the Anglo American  plc group. Established  in 
1888, De  Beers  is  the  world's  leading  diamond  company  with  unrivalled 
expertise in the exploration, mining and marketing of diamonds. Together  with 
its joint  venture  partners, De  Beers  employs approximately  16,000  people 
across the diamond pipeline,  and is the world's  largest diamond producer  by 
value, with mining operations in  Botswana, Canada, Namibia and South  Africa. 
In Canada, De Beers operates the  Snap Lake Mine in the Northwest  Territories 
and the Victor  Mine in northern  Ontario. De  Beers is also  a joint  venture 
partner in the Gahcho  Kué Project in the  Northwest Territories. For  further 
information about De Beers visit www.debeersgroup.com.

About Mountain Province Diamonds

Mountain Province Diamonds discovered the first kimberlite at Kennady Lake  in 
1995 and in 1997 entered into a  joint venture with Monopros, a subsidiary  of 
De Beers. Mountain Province is a 49%  participant with De Beers Canada in  the 
Gahcho Kué JV located  in Canada's Northwest Territories.  Gahcho Kué is  the 
world's largest  and richest  new diamond  mine development.  A December  2010 
feasibility study filed  by Mountain Province  (available on SEDAR)  indicates 
that the  Gahcho Kué  project has  an  IRR of  33.9%. Further  information  is 
available at www.mountainprovince.com.

Forward-Looking Statements

This news release may contain  forward-looking statements, within the  meaning 
of the "safe-harbor" provision of the Private Securities Litigation Reform Act
of 1995, regarding Mountain Province's  business. Actual results could  differ 
materially from those described in this  news release as a result of  numerous 
factors, some of which are outside the control of the Company.

SOURCE Mountain Province Diamonds Inc.

Contact:

Cathie Bolstad
Director, External & Corporate Affairs
De Beers Canada

Tel: (867) 766-7300

Patrick Evans
President and CEO
Mountain Province Diamonds

Tel: (416) 361-3563