Mountain Province Diamonds Inc.

Mountain Province Diamonds Inc.

March 31, 2005 08:30 ET

Mountain Province Diamonds Inc. to be Listed on the American Stock Exchange


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MOUNTAIN PROVINCE DIAMONDS INC.

TSX SYMBOL: MPV
OTC Bulletin Board SYMBOL: MPVI

MARCH 31, 2005 - 08:30 ET

Mountain Province Diamonds Inc. to be Listed on the
American Stock Exchange

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 31, 2005) - Mountain
Province Diamonds Inc. (the Company) (TSX:MPV)(OTCBB:MPVI) is pleased to
announce that its application for listing on the American Stock Exchange
(AMEX) has been approved. Trading of the Company's shares on the AMEX
will start on Monday April 4. The new stock symbol will be "MDM".

This approval is contingent upon the Company being in compliance with
all applicable listing standards on the date it begins trading on the
AMEX, and may be rescinded if the Company is not in compliance with such
standards.

Elizabeth J. Kirkwood, Chairman & CFO stated, "We are very pleased with
the listing on AMEX and believe that shareholders will benefit from,
among other things, improved liquidity in the stock and a higher overall
profile for the Company."

Separately, De Beers is on schedule with the pre-feasibility/feasibility
in-depth project study. The conclusion of the study is expected in June
of 2005.

Mountain Province Diamonds Inc. is a company developing a diamond in the
NWT of Canada. The AK mining leases, located in the Northwest
Territories of Canada are now held 44.1% by Mountain Province Diamonds
Inc., 4.9% by Camphor Ventures (TSX VENTURE:CFV), and 51% by De Beers
Canada Exploration Inc. As reported in its news release on March 7th,
1997, Mountain Province Diamonds Inc. and its partner entered into a
joint agreement with De Beers Canada Exploration Inc. formerly known as
Monopros Ltd. (a wholly owned subsidiary of De Beers Consolidated Mines
Limited) under which De Beers Canada Exploration Inc. has the right to
earn up to a 60% interest in the AK property by taking the project to
commercial production. Carl G. Verley, P. Geol., a director, is the
qualified person for the Company.

Jan W. Vandersande, Ph.D., President & CEO

This release may contain forward-looking statements, within the meaning
of the "safe-harbor" provision of the Private Securities Litigation
Reform Act of 1995, regarding the Company's business or financial
condition. Actual results could differ materially from those described
in this news release as a result of numerous factors, some of which are
outside of the control of the Company.

USA Office: 3633 E. Inland Empire Blvd., Suite 465, Ontario, CA 91764,
(909) 466-1411

CANADA Office: 21 Nesbitt Drive, Toronto, Ontario, Canada M4W 2G2

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