Gahcho Kué Joint Venture Welcomes Issuance of Land Use Permit and Water License

   Gahcho Kué Joint Venture Welcomes Issuance of Land Use Permit and Water
                                   License

  PR Newswire

  YELLOWKNIFE, Northwest Territories, TORONTO and NEW YORK, August 12, 2014

YELLOWKNIFE, Northwest Territories, TORONTO and NEW YORK, August 12, 2014
/PRNewswire/ --

De Beers Canada Inc. as the Operator and Mountain Province Diamonds (TSX: MPV,
NYSE MKT: MDM) are pleased to announce that the Mackenzie Valley Land and
Water Board (MVLWB) has issued the Gahcho Kué Type A Land Use Permit and sent
the Type A Water License for final approval to the Minister of Environment and
Natural Resources (ENR) of the Government of the Northwest Territories (GNWT).

Tony Guthrie, CEO of De Beers Canada Inc.:

"This represents one of the final regulatory steps for the Gahcho Kué diamond
mine and is the result of very hard work by the Project team over the past
eight years with the Board, Regulatory agencies, Aboriginal parties,
Communities and other Stakeholders. We will continue to develop the Project
responsibly in keeping with the principles of sustainable development,
including protection of the environment, and with respect for Aboriginal
culture and traditions.

We look forward to strengthening relationships with all Stakeholders as we
advance the project toward operation and build for the future together.

We want to thank the Board and staff of the MVLWB and the many Participants
for their work during the permitting process."

Patrick Evans, CEO of Mountain Province Diamonds, added:

"As the world's largest and richest new diamond mine, Gahcho Kué will maintain
Canada's position as a leading diamond producer. Employment created by Gahcho
Kué and revenues generated by the mine will contribute to growth and
prosperity in the NWT. I extend my appreciation to the Gahcho Kué Project
team, the Regulators as well as our community partners who have supported the
mine development."

Gahcho Kué will employ close to 700 people during the two years of
construction and approximately 400 people during its operational phase.

ABOUT THE 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 with its joint venture partners, De Beers
employs more than 20,000 people (directly and as contractors) across the
diamond pipeline, and is 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
http://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'sNorthwest Territories. Gahcho Kué is the world's largest and richest
new diamond mine development. A March 2014 feasibility study filed by Mountain
Province (available on SEDAR) indicates that the Gahcho Kué project has an IRR
of 32.6%. Further information is available at http://www.mountainprovince.com
.

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:

Tom Ormsby Sr. External & Corporate Affairs Manager De Beers Canada Tel
+1(416)645-1710, ext. 2151 tom.ormsby@debeersgroup.com Patrick Evans President
& CEO Mountain Province Diamonds Tel +1(416)361-3562
 
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