Mountain Province Diamonds Announces the Inclusion of 157 Carat Exceptional Rough Diamond in its February Sale

Rhea-AI Summary

Mountain Province Diamonds (TSX: MPVD, OTCQX: MPVD) announces the sale of a 157.38 carat diamond named Polaris, recovered from the Gahcho Kué mine in Canada. This gem exhibits rare natural blue fluorescence and will be featured in its February sale, commencing on February 22 and concluding on March 5. Mountain Province has regularly produced exceptional diamonds since 2016, with over 400 diamonds sold in 2020 alone. Interested buyers can arrange viewings and appointments through Bonas-Couzyn.

Positive

• Sale of a 157.38 carat diamond named Polaris could attract significant buyer interest.
• Company has a history of selling over 400 large diamonds in 2020, indicating strong market presence.

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• None.

TSX and OTCQX: MPVD

TORONTO and NEW YORK, Feb. 16, 2021 /PRNewswire/ - Mountain Province Diamonds Inc. ("Mountain Province", or the "Company") (TSX: MPVD) (OTCQX: MPVD) announces the upcoming sale of the largest gem quality diamond recovered to date from the Gahcho Kué mine, located in Canada's Northwest Territories.

The diamond is a 157.38 carat gem of exceptional quality. Named "Polaris" after the North Star, this diamond exhibits a rare natural blue fluorescence that echoes its Canadian Arctic origins.

Reid Mackie, the Company's Vice President Diamond Marketing said, "We are thrilled to offer Polaris at our upcoming February sale. It is an extraordinary stone, recovered at the end of an extraordinary year. Polaris, the North Star, is an enduring touch point of light for those navigating under northern skies. It remains a celestial constant as the earth rotates and the seasons change. We take inspiration from this stone and the beautiful light suspended within it, as we, our customers, and indeed the world, navigate forward to more positive times."

Polaris will be offered for sale at Mountain Province's second sale of the year at Bonas Group's offices in Antwerp. Included in the offering are more than thirty, high quality gd+10.8 carat rough diamonds as well as the Company's customary run-of-mine assortments.

Viewings will be held from February 22 with the sale closing on March 5, 3PM CET via online highest bid tender. https://mpvbids.com/

Mountain Province's Gahcho Kué Mine, located at the edge of Canada's Arctic Circle. From the start of production in late 2016 the mine has established itself as a regular source of exceptional, gem quality, large diamonds. In 2020 Mountain Province sold over 400 individual diamonds larger than 10.8 carats.

Interested buyers are advised to contact Bonas-Couzyn on +32 (0)3 233 70 80 to arrange an appointment.

About Mountain Province Diamonds Inc.

Mountain Province Diamonds is a 49% participant with De Beers Canada 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.

Qualified Persons

The disclosure in this news release of scientific and technical information regarding Mountain Province's mineral properties has been reviewed and approved by Matthew MacPhail, P.Eng., MBA, and Tom E. McCandless, Ph.D., P.Geo., both Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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SOURCE Mountain Province Diamonds Inc.

FAQ

What is the significance of the 157 carat diamond named Polaris?

The 157.38 carat Polaris diamond, noted for its exceptional quality and rare blue fluorescence, is the largest gem recovered to date from the Gahcho Kué mine, expected to draw considerable attention in the market.

When will the sale of the Polaris diamond take place?

The sale of the Polaris diamond will take place from February 22 to March 5, with viewings available prior to the auction.

What is the Gahcho Kué mine known for?

The Gahcho Kué mine is recognized for producing high-quality, large diamonds and has been operational since late 2016.

How many diamonds did Mountain Province sell in 2020?

In 2020, Mountain Province sold over 400 individual diamonds larger than 10.8 carats.

How can interested buyers participate in the diamond sale?

Interested buyers can arrange viewings and appointments by contacting Bonas-Couzyn.