Early Warning News Release Regarding the Securities of Mountain Province Diamonds Inc.

Toronto, Ontario--(Newsfile Corp. - March 19, 2025) - Dunebridge Worldwide Ltd. ("Dunebridge") of 4th Floor, Lyford Cay House, P.O. Box SP-63131, Western Road, Nassau, Bahamas, announces that it acquired warrants ("Warrants") to purchase up to 10,000,000 common shares ("Common Shares") in the capital of Mountain Province Diamonds Inc. ("MPVD") in connection with Dunebridge providing MPVD with a term loan of up to US$40 million (the "Transaction").

Mr. Dermot F. Desmond ("Mr. Desmond") of Switzerland is the ultimate beneficial owner of each of Dunebridge and Vertigol Unlimited Company ("Vertigol").

Prior to the Transaction, through Vertigol and Dunebridge, Mr. Desmond had beneficial ownership of, and exercises direction and control over, 75,446,071 Common Shares and 41,000,000 Warrants, representing approximately 35.53% of the issued and outstanding Common Shares on a non-diluted basis (and representing approximately 45.96% of the issued and outstanding Common Shares on a partially diluted basis, assuming the exercise of all Warrants held by Dunebridge). Upon completion of the Transaction, through Vertigol and Dunebridge, Mr. Desmond has beneficial ownership of, and exercises control and direction over, 75,446,071 Common Shares and 51,000,000 Warrants, representing approximately 35.53% of the issued and outstanding Common Shares on a non-diluted basis (and representing approximately 48.01% of the issued and outstanding Common Shares on a partially diluted basis, assuming the exercise of all Warrants held by Dunebridge).

Dunebridge acquired the Warrants for investment purposes. Dunebridge may in the future acquire or dispose of securities of MPVD, through the market, privately or otherwise, depending on market and economic conditions and other factors material to the investment decisions of Dunebridge.

This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues which requires a report to be filed under MPVD profile on SEDAR+ (www.sedarplus.ca) containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Emma Leeson at the number below. MPVD's head office is Suite 1100, 151 Yonge Street, Toronto, Ontario, M5C 2W7, Canada.

For further information please contact:

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245349

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