17 March 2015
Toronto and New York, March 17, 2015 – Mountain Province Diamonds Inc. (“Mountain Province”, the “Company”) (TSX: MPV, NASDAQ: MDM) announced today that good progress continues to be made with the development of the Gahcho Kué diamond mine. The key focus of current activities is the shipment of equipment and supplies on the ice road between Yellowknife and Gahcho Kué.
Mountain Province President and CEO Patrick Evans commented: “Thanks to a high level of preparedness on the part of the project operator, De Beers Canada, and favourable weather conditions, approximately 78 percent of the planned deliveries had been completed by midMarch. This equates to 1,669 out of 2,143 planned truckloads. Based on progress to date, it is anticipated that all the planned deliveries will be made prior to the closing of the ice road.”
The 2015 ice road shipments include the mining fleet, drills, high-pressure grinding rolls, structural steel, cement and fuel. Upon completion of these deliveries all the key equipment required for the completion of construction will be on site at Gahcho Kué.
Mountain Province is also pleased to announce that the overall mine development continues on schedule and within budget with first production expected during H2 2016. In addition, good progress continues to be made with the arrangement of the previously announced US$370M term loan facility. A further announcement in this regard is expected shortly.