Mountain Province achieves US$42 per Ct

Sales diamonds over 210K Ct 

Mountain Province Diamonds announces the results of its latest diamond sale and total proceeds from the sale were US$8.9 million from 210,661 carats at an average realized value of US$42 per carat, indicating a 1% discount to values achieved for similar diamonds at the February sale. 

Despite COVID-19 restricting travel into Belgium, bidding was strong and consistent with those seen earlier in the year. The Company's next sale event is scheduled to close on October 31st, 2020. 

Despite COVID-19 restricting travel into Belgium, bidding was strong and consistent with those seen earlier in the year. The Company's next sale event is scheduled to close on October 31st, 2020.

Stuart Brown, the Company's President and CEO, commented, "We are pleased to have finally resumed our traditional sales channels as the markets around the globe continue to gradually open for business. 

The results of the first small sale, post the COVID-19 Pandemic are an encouraging start considering that the market has been at a standstill for nearly 6 months. 

The results of the sale were a positive sign as the markets for rough and polished diamonds start to return."  Mountain Province Diamonds is a 49% participant with De Beers Group in the Gahcho Kué diamond mine located in Canada's Northwest Territories. The Gahcho Kué Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. 

The Company also controls 106,202 hectares of highly prospective mineral claims and leases that surround the Gahcho Kué Joint Venture property that include an indicated mineral resource for the Kelvin kimberlite and inferred mineral resources for the Faraday kimberlites.