Bottin (International) Investments Ltd. and Mr. Dermot Desmond confirm exercise of rights in Mountain Province Diamonds Inc.


GIBRALTAR, April 1, 2015 /CNW/ - BOTTIN (INTERNATIONAL) INVESTMENTS LTD. ("Bottin"), of 57/63 Line Wall Road, Gibraltar and MR. DERMOT DESMOND – together announce that Bottin and Mr. Desmond have acquired an aggregate of 5,254,247 common shares of Mountain Province Diamonds Inc. ("Mountain Province") for $4.00 per share through the exercise of rights in the Corporation's recently completed rights offering.  The shares have been acquired for investment purposes.

Immediately before completion of the rights offering, Bottin and Mr. Desmond together held 30,896,681 common shares of Mountain Province, representing 22.9% of the 135,204,550 issued and outstanding common shares of Mountain Province. Following completion of the rights offering, Bottin and Mr. Desmond together hold 36,150,928 common shares of Mountain Province, representing 22.7% of the 158,966,333 issued and outstanding common shares of Mountain Province.

About Bottin

Bottin (International) Investments Ltd. is a private company based in Gibraltar. Mr. Desmond is the ultimate beneficial owner of Bottin.

About Mountain Province

Mountain Province is a 49% participant with De Beers Canada in the Gahcho Kué JV located at Kennady Lake in Canada's Northwest Territories. 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.

Gahcho Kué is the world's largest and richest new diamond development project. 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 Joint Venture has received approval for a Class A Land Use Permit and Type A Water License, permits required for the completion of construction of the Gahcho Kué diamond mine. Site preparation commenced in December 2014 and the overall project is on schedule for first production during H2 2016.


Per:   "Cheam Directors Limited"
Cheam Directors Limited

SOURCE Bottin (International) Investments Ltd.

For further information: Bottin (International) Investments Ltd.,

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Bottin (International) Investments Ltd.

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Mr. Dermot Desmond

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