News Release Correction To Second Quarter 2024 Sales Price per Carat

Core Viewpoint - Mountain Province Diamonds Inc. issued a correction regarding its average selling price per carat for Q2 2024, which was inaccurately reported as CA$166 (US$124) instead of the correct CA$102 (US$74) [2]. Company Overview - Mountain Province Diamonds holds a 49% stake in the Gahcho Kué diamond mine in Canada's Northwest Territories, which is a joint venture with De Beers Canada [3]. - The Gahcho Kué property includes several actively mined, developed, and explored kimberlites, with the company controlling over 96,000 hectares of mineral claims and leases surrounding the mine [3]. - The Kelvin kimberlite is estimated to contain 13.62 million carats (Mct) at a grade of 1.60 carats/tonne, valued at US$63/carat, while the Faraday 2 kimberlite contains 5.45 Mct at a grade of 2.63 carats/tonne, valued at US$140/carat [3]. - Faraday 1-3 is estimated to contain 1.90 Mct at a grade of 1.04 carats/tonne, valued at US$75/carat [3].