Vertigol Unlimited Company - EARLY WARNING PRESS RELEASE

DUBLIN, March 14, 2022 /CNW/ - Vertigol Unlimited Company ("Vertigol") of Dublin, Ireland announces that Vertigol acquired 4,581,000 common shares of Mountain Province Diamonds Inc. ("MPVD") on March 11, 2022, on the Toronto Stock Exchange for consideration of CDN$0.76 per MPVD common share, for total consideration of CDN$ 3,481,560.00

Mr. Dermot F. Desmond of Switzerland is the ultimate beneficial owner of Vertigol.

Immediately before completion of this transaction, Vertigol and its joint actors had beneficial ownership of, and exercised control or direction over, 70,115,071 common shares, representing approximately 33.309% of the outstanding common shares of MPVD. Following completion of this transaction, Vertigol held 74,696,071 common shares, representing approximately 35.485% of the common shares of MPVD.

Vertigol purchased the common shares of MPVD for investment purposes. Vertigol may purchase or sell securities of MPVD in the future on the open market or in private transactions depending on market and economic conditions and other factors material to the investment decisions of Vertigol.

As previously disclosed by MPVD, an entity ultimately beneficially owned by Mr. Desmond, may, subject to execution of a US$50 million junior secured term loan credit facility with MPVD, acquire warrants to purchase up to 41,000,000 common shares of MPVD.

A copy of the early warning report to be filed by Vertigol in connection with the transaction described above will be available on SEDAR. A copy may also be obtained by contacting Emma Leeson at the number below. The head office of MPVD is located at 161 Bay Street, Suite 1410, PO Box 216, Toronto, Ontario, M5J 2S1.

SOURCE Vertigol Unlimited Company

Emma Leeson, IFSC House, Custom House Quay Dublin 1., Tel [phone]