TORONTO and NEW YORK, October 15,
2015 /PRNewswire/ --
Shares Issued and Outstanding:
158,966,333
TSX: MPV
NASDAQ: MDM
Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPV,
NASDAQ: MDM) is pleased to announce the appointment of Reid Mackie to the position of Vice President
Diamond Marketing effective today, October
15, 2015.
Mr. Mackie joins Mountain Province Diamonds from Rio Tinto
Diamonds where he held the positions of Manager Sales and Marketing
for Argyle Pink Diamonds in Perth,
Australia (2011 to 2015) and Senior Executive Trader in
Antwerp, Belgium (1999 to 2010).
At Argyle Mr. Mackie was responsible for the pricing and sales of
all Argyle pink polished diamonds including the Argyle pink diamond
tender. In Antwerp Mr. Mackie was responsible for the valuation and
sales of rough diamonds from the Diavik, Argyle, Murowa, Ellendale
and Merlin diamond mines.
Mountain Province President and CEO Patrick Evans commented: "We welcome Reid to
Mountain Province at a very
exciting time for the company as we begin to prepare for the first
sales of diamonds from the Gahcho Kué diamond mine. His
considerable experience in taking new mine production to the market
will benefit Mountain Province
greatly as we seek to maximise revenue from our share of the Gahcho
Kué production."
Mr. Mackie is a graduate of the University
of British Columbia (B.A., 1994).
Mountain Province Diamonds is a 49% participant with De
Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest
Territories. Gahcho Kué is the world's largest and richest
new diamond mine.
The Gahcho Kué Project consists of a cluster of four
diamondiferous kimberlites, three of which have a probable mineral
reserve of 35.4 million tonnes grading 1.57 carats per tonne for
total diamond content of 55.5 million carats.
A 2014 NI 43-101 feasibility study report filed by Mountain Province (available on SEDAR)
indicates that the Gahcho Kué project has an IRR of 32.6%.
The Gahcho Kué diamond mine is expected to produce an average of
4.5 million carats a year over a 12 year mine life.
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 includes certain information that may constitute
"forward-looking information" under applicable Canadian and US
securities legislation. Forward-looking information includes, but
is not limited to, the Company's strategic plans, future
operations, future work programs and objectives. Forward-looking
information is necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking information.
There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking
information. All forward-looking information contained in this
press release is given as of the date hereof and is based upon the
opinions and estimates of management and information available to
management as at the date hereof. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by law.
Mountain Province Diamonds Inc., Patrick
Evans, President and CEO, Phone: +1(416)-361-3562, E-mail:
info@mountainprovince.com, http://www.mountainprovince.com