Mountain Province Diamonds Arranges C$100M Private Placement

30 September 2014

Not for distribution to U.S. news wire services or dissemination in the United States
Toronto, Ontario, September 30, 2014 – Mountain Province Diamonds Inc. (TSX: MPV / NYSE MKT: MDM) ("Mountain Province" or the "Company") today announced that it has entered into an agreement with a syndicate of underwriters led jointly by BMO Capital Markets, RBC Capital Markets and Scotia Capital Inc., under which the underwriters have agreed to buy, on a bought deal basis by way of private placement, 15,000,000 common shares (the “Common Shares”) of the Company, at a price of C$5.00 per Common Share for gross proceeds of C$75,000,000 (“the Offering”).  
Concurrent with the Offering, the Company intends undertaking a non-brokered private placement (“Non-brokered Private Placement”) of 5,000,000 Common Shares of the Company at a price of C$5.00 per Common Share. The Non-brokered Private Placement will be sold to Bottin (International) Investments Ltd. and other qualified investors.
The Company intends to use the net proceeds of the offering for the continued development of the Company's Gahcho Kué project and for general corporate purposes.