Mountain Province Diamonds Announces March 31, 2017 Quarter End Results

Shares Issued and Outstanding: 160,173,833

TORONTO and NEW YORKMay 10, 2017 /CNW/ - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD, NASDAQ: MPVD) announced today the results for the quarter ended March 31, 2017.

Highlights for 2017 and to date
(All quoted figures in CAD$)

  • The Gahcho Kué Diamond Mine ("GK Mine") declared commercial production on March 1, 2017 having achieved more than 70% of nameplate capacity of 8,226 tonnes per day over the preceding 30-day period. 

  • Mining of overburden, waste rock and ore in the 5034 open pit for the three months ended March 31, 2017 was approximately 7.7 million tonnes, with approximately 222,600 tonnes of ore stockpiled at period-end on a 100% basis. 

  • For the three months ended March 31, 2017, the GK Mine treated approximately 492,000 tonnes of ore through the process plant and recovered approximately 867,000 carats on a 100% basis for an average grade of approximately 1.76 carats/tonne. This recovered grade is approximately 17% above budget for the first quarter. It remains unclear at this time whether or to what extent this positive grade variance will be sustainable. The Company's attributable share of first quarter diamond production was approximately 424,830 carats.

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