Mackenzie Valley Land and Water Board Approves Gahcho Kué Pioneer Land Use Permit

  Mackenzie Valley Land and Water Board Approves Gahcho Kué Pioneer Land Use

  PR Newswire

  TORONTO, NEW YORK and YELLOWKNIFE, Northwest Territories, December 3, 2013

TORONTO, NEW YORK and YELLOWKNIFE, Northwest Territories, December 3, 2013
/PRNewswire/ --

De Beers Canada Inc. and Mountain Province Diamonds (TSX: MPV, NYSE MKT: MDM)
are pleased to announce that the Mackenzie Valley Land and Water Board has
approved a pioneer Land Use Permit for the Gahcho Kué diamond mine. The
pioneer Land Use Permit allows land-based site works to commence in
preparation for deliveries planned for the 2014 winter road season.

Tony Guthrie, CEO of De Beers Canada, commented: "De Beers, as the Operator of
the Gahcho Kué Project, extends its appreciation to the Mackenzie Land and
Water Board for the efficient processing of the pioneer Land Use Permit
application. Approval of the permit allows Gahcho Kué to position itself for
the start of full construction pending the receipt of the full Land Use Permit
and Water License expected in 2014. The construction and operational phases of
Gahcho Kué will benefit the Canadian economy and local communities, creating
new business and employment opportunities for residents of the Northwest
Territories and continuing to build Canada's position as a premier diamond

The scope of the planned pioneer site works conforms to the water use and
waste disposal terms of the existing Type B Water License for the Gahcho Kué

Patrick Evans, Mountain Province President and CEO, added: "This represents an
important milestone for the Gahcho Kué project. The shareholders of Mountain
Province look forward to an efficient and timely completion of the remaining
regulatory process in 2014, which is necessary to ensure the optimal
development of the Gahcho Kué diamond mine."

Gahcho Kué will employ close to 700 people during the two years of
construction and close to 400 people during its operational phase. The Gahcho
Kué project life of mine is approximately 11 years in duration and will mine
about 31 million tonnes of ore containing an estimated 49 million carats.
These carats include an estimate of carats recovered below the bottom cut-off
of the plant and therefore differ by a small amount to those reported in the
2013 Anglo American Annual Report.

Gahcho Kué is a joint venture between De Beers (51%) and Mountain Province
Diamonds (49%) and is located 280 km northeast of Yellowknife, Northwest

The Gahcho Kué joint venture is also currently updating the 2010 Gahcho Kué
feasibility study and expects to announce the results of an Optimization Study
early in the New Year.

About De Beers Group of Companies

De Beers 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 withits joint venture
partners,De Beers employs more than 23,000 people (directly and as
contractors) across the diamond pipeline, andis the world's largest diamond
producer by value, with mining operations in Botswana, Canada, Namibia and
South Africa. As part of the company's operating philosophy, the people of De
Beers are committed to Living up to Diamonds by making a lasting contribution
to the communities in which they live and work, and transforming natural
resources into shared national wealth. For further information about De Beers
visit .

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 .

Forward-Looking Statements

This news release may contain forward-looking statements, within the meaning
of the "safe-harbour" 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.

For further information:Cathie Bolstad Director, External & Corporate Affairs
De Beers Tel: +1(867)766-7300

Patrick Evans President and CEO Mountain Province Diamonds Tel:
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