Mountain Province Diamonds Appoints Banks to Arrange and Underwrite US$370M Term Loan Facility

28 July 2014

Toronto and New York, July 28, 2014 – Mountain Province Diamonds Inc. (“Mountain Province”, the “Company”) (TSX: MPV, NYSE MKT: MDM) is pleased to announce the appointment of three leading international banks to arrange and underwrite a senior secured term loan facility of up to US$370M (the “Facility”) to fund the Company’s share of the construction cost of the Gahcho Kué diamond mine located in Canada’s Northwest Territories. Gahcho Kué is a joint venture between De Beers Canada Inc. (51%) and Mountain Province (49%).