/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS/

DUBLIN, Sept. 18, 2018 /CNW/ - Vertigol Unlimited Company ("Vertigol") of Dublin, Ireland announces that Vertigol acquired 6,200,000 common shares of Mountain Province Diamonds Inc. ("MPVD") from one seller in a private off-market transaction for consideration of CDN$2.90 per MPVD common share.  Vertigol has also acquired 169,400 common shares of MPVD for consideration of CDN$2.49795 per share and 67,500 common shares of MPVD for consideration of CDN$2.55097 per share in market transactions through the facilities of the Toronto Stock Exchange.

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

Immediately before completion of these transactions, Vertigol held 52,211,558 common shares (24.9% approximately) of MPVD.  Following completion of the private off-market and market purchase transactions, Vertigol held 58,648,458 common shares (27.9% approximately) of MPVD.

MPVD has 210,005,810 common shares outstanding on an undiluted basis and 213,601,473 common shares outstanding on a fully diluted basis.  On a fully diluted basis, Vertigol holds approximately 27.5% of the common share capital of MPVD.

Vertigol acquired the MPVD shares pursuant to a private off-market transaction with one seller and market transactions through the facilities of the Toronto Stock Exchange and holds the shares for investment purposes.

No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. This news release is not an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

SOURCE Mountain Province Diamonds Inc.

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