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Exploration drilling commences


Ice road deliveries to Gahcho Kue completed


Mineral Services retained to complete new Tuzo resource statement





Shares Issued and Outstanding: 94,168,151
TSX: MPV
NYSE MKT: MDM




TORONTO AND NEW YORK, April 5, 2013 /PRNewswire/ - Mountain Province Diamonds
Inc. ("Mountain Province", the "Company") (TSX: MPV, NYSE MKT: MDM) is
pleased to announce that drilling of the new exploration targets at the
Gahcho Kue ("GK") project, a joint venture with De Beers Canada Inc.
("De Beers"), commenced this week. Following completion of a ground
gravity survey, the Operator of the GK project has recommended ten
targets for the first phase of the exploration drill program. Drilling
of the targets is expected to be completed by the end of April 2013.
Based on the success of the first phase drill program, consideration
will be given to testing additional targets that have been identified.


Mountain Province is also pleased to report that the planned deliveries
of materials, equipment and fuel to the GK site were completed on
schedule by the end of March 2013.


The Company also announced that Mineral Services Canada Inc. has been
retained to prepare an updated independent NI 43-101 resource statement
for the Tuzo kimberlite, which will incorporate the results of the
recently completed deep drilling program. The resource update is
expected to be completed before the end of the current quarter.


Finally, Mountain Province confirmed today that the auditors' report
received from its independent public accounting firm on its audited
financial statements for the fiscal year ended December 31, 2012 (the
"Annual Financial Statements"), contained a going concern explanatory
note. Mountain Province's Annual Financial Statements were included in
Form 20-F for its filings in the United States with the Securities and
Exchange Commission on April 1, 2013. Mountain Province's Annual
Financial Statements are also filed on SEDAR in Canada.


This press release and public confirmation of the going concern note is
required by Section 610(b) of the NYSE MKT Company Guide, which
requires a listed company that receives an audit opinion that contains
a going concern qualification to make a public announcement of such in
the United States. This announcement does not represent any change or
amendment to Mountain Province's Annual Financial Statements or to its
Annual Report on Form 20-F for the fiscal year ended December 31, 2012.


****


Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kue JV located
at Kennady Lake in Canada's Northwest Territories. The Gahcho Kue
Project consists of a cluster of four diamondiferous kimberlites, three
of which have a probable mineral reserve of 31.3 million tonnes grading
1.57 carats per tonne for total diamond content of 49 million carats.


Gahcho Kue is the world's largest and richest new diamond mine
development. A December 2010 feasibility study filed by Mountain
Province (available on SEDAR) indicates that the Gahcho Kue project has
an IRR of 33.9%.




Qualified Person
This news release has been prepared under the supervision of Carl G.
Verley, P.Geo who serves as the qualified person under National
Instrument 43-101.




Forward-Looking Statements
This news release may contain forward-looking statements, within the
meaning of the "safe-harbor" provision of the Private Securities
Litigation Reform Act of 1995, regarding the Company's business or
financial condition. Actual results could differ materially from those
described in this news release as a result of numerous factors, some of
which are outside the control of the Company.




SOURCE Mountain Province Diamonds Inc.



For further information: <p> Mountain Province Diamonds Inc.<br/> Patrick Evans, President and CEO<br/> Phone: (416) 361-3562 </p> <p> E-mail: info@mountainprovince.com </p> <p> http://www.mountainprovince.com/">www.mountainprovince.com </p>