Mountain Province Diamonds announces extension of lenders’ waiver

24 November 2017

Mountain Province Diamonds Inc. today announces that it has received an extension of the waiver for the funding of the remaining reserve accounts under its project lending facility, until January 31, 2018 with unanimous consent of the lenders. Highlights of the waiver that has been agreed to between the company and its lenders include (all amounts in US dollars):

•Sunk Cost and Debt Service Reserve Account funding is deferred until January 31, 2018

•Current Cash Cost Reserve Account funding of $25 million is deemed satisfactory until March 31, 2018

•Initial principal payment of $24.8 million, along with quarterly accrued interest, remains scheduled for December 31, 2017, in accordance with the original amortization schedule