DIAMOND EXPLORATION – Tuzo bulk sampling concludes

NORTHWEST TERRITORIES - Toronto-based MOUNTAIN PROVINCE DIAMONDS reports that the 2008 Tuzo bulk sampling program has concluded successfully, ahead of schedule. It has been designed to recover about 1,500 tonnes (t) of kimberlite from the Tuzo kimberlite pipe using two 61-cm-diameter drill rigs. A total of nine holes were drilled, with four holes to depths of 101 metres, three holes to depths of 126.5 metres and two holes to depths of about 300 metres.

Processing of the drill core at De Beers' Grand Prairie, Alta., facility commenced on Feb. 23, 2008 and is expected to be completed by May 2008. The concentrated kimberlite will then be processed to recover macrodiamonds which, together with the approximately 600 carats recovered from prior years' exploration, should provide a sufficiently large sample (around 2,000 carats) to enable the joint venture to do accurate diamond revenue modeling for Tuzo.

The Tuzo kimberlite is part of the Gahcho Ku project, which is the largest new diamond mine under development globally. The project consists of a cluster of three primary kimberlites with an indicated resource of approximately 14.4 million tonnes grading 1.64 ct/tonne (approximately 23.6 million carats) and an inferred resource of approximately 17 million tonnes grading 1.35 ct/tonne (approximately 22.9 million carats). Gahcho Ku is currently in the permitting and advanced exploration stage of development.

Mountain Province Diamonds (49%) is a joint venture partner with DE BEERS CANADA (51%) in the Gahcho Ku project. De Beers is the operator of the project and can be called on to fund the project through to commercial production.

For further information see www.mountainprovince.com.