Mountain Province Diamonds Inc. released production results of the Gahcho Kué Diamond Mine for the third quarter ended September 30, 2018 (Q3 2018) yesterday, reporting a 3% increase in quantity of ore mined, and a recovered grade of 2.40 carats per tonne, which was 8% higher than in the same quarter last year.

The company said that 1,155,000 tonnes (Q3 2017: 1,123,000 tonnes) were mined in Q3 2018, up 3% y-o-y. The plant treated 759,000 tonnes during the quarter, 8% less than the same quarter last year as a result of a planned maintenance shut down. Also 1,819,000 carats were recovered (Q3 2017: 1,825,000 cts) at an average grade of approximately 2.40 carats per tonne, which was 8% higher than the same quarter last year and increases the year to date grade profile to 2.21 carats per tonne.

Mountain Province also reported that its share of the carats recovered, as a 49% JV partner in the Gahcho Kué Diamond Mine was 891,000 cts, virtually the same as last year’s share of 894,000 cts

Stating that daily throughput in the plant continues to be consistent with targets for the year, Mountain Province added that it remains well positioned to achieve the upper end of its full year 2018 production guidance of 6.3 – 6.6 million carats recovered.

Stuart Brown, the Company's President and Chief Executive Officer, commented: "The third quarter performance continues to follow the trend of ongoing excellent performance set by the GK Mine team, in a safe and sustainable manner. We expect this trend to continue into the last quarter of the year. The continued good performance is pleasing as the mine matures into its steady state production methodology of continuous improvement."