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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Taylor Mill who wrote (2151)	11/16/2004 7:29:16 PM
From: Famularo	Read Replies (1) \| Respond to of 16214

Sigh... If I only knew.... Diamond exploration stocks are in coma. Advanced projects like MPY, should be trading higher in price and volume. There just isn't much interest at the moment. IMO, it will be a sling shot effect, and there will be speculators who will jump on the train, when it's moving. Mountain, will have a mine but I suspect the priorities are as follows for Debeers..... 1. Snap Lake 2. Victor 3. Mountain. As you know, Debeers is spending a fair amount of dollars on Mpv, so it is very unlikely it's write off the project. Question is timing... A reason I like Ashton is its in bed with Rio and Rio wants to keep up with Debeers. The only advanced play Rio has control of(58% owns Ashton) is Ashton. Again, no interest at the moment......frank

To: Taylor Mill who wrote (2151)	11/17/2004 8:45:32 AM
From: kidl	Read Replies (1) \| Respond to of 16214

Mountain Province Diamonds, Inc. Reports Increased Diamond Valuations ccnm ONTARIO, CALIFORNIA--(CCNMatthews - Nov. 17, 2004) - Mountain Province Diamonds Inc., (the Company) (TSX:MPI)(OTCBB:MPVI) is pleased to announce that it has been informed by its joint-venture partner DeBeers Canada Exploration Inc., a wholly-owned subsidiary of DeBeers Consolidated Mines Limited (De Beers), that De Beers has updated the modeled diamond values for the Hearne, 5034 and Tuzo diamond pipes. Values based on the August 2004 DTC price book have increased by an average of approximately 7 percent from the March 2004 modeled values. The Hearne, 5034 and the Tuzo kimberlite bodies (the Gahcho Kue kimberlites) are located in Kennady Lake in the joint venture's AK mining leases situated in the Northwest Territories of Canada. The diamonds recovered from the 1999, 2001 and 2002 bulk samples of the Hearne and 5034 pipes and the 1999 bulk sample of the Tuzo pipe (all to a 1.5 mm lower cutoff), were last valued at the Diamond Trading Company (DTC) using the March 2004 diamond prices. The modeled values per carat, based on those valuations and on production recovery factors as determined by De Beers, were reported on June 16, 2004. Since March 2004, diamond prices have risen due to strong demand and the DTC increased their selling prices in August 2004 by an average of 5 percent according to industry sources. The modeled values for the three pipes were adjusted recently using the August 2004 DTC diamond prices. The table shows the weighted average modeled values per carat for the three pipes in March 2004 and August 2004. ---------------------------------------------- March 2004 August 2004 Modeled Value Modeled Value Name of Per Carat Per Carat Pipe (US $ per Carat) (US $ per Carat) ---------------------------------------------- 5034 74.20 79.20 ---------------------------------------------- Hearne 61.00 65.00 ---------------------------------------------- Tuzo 49.00 53.00 ---------------------------------------------- As can be seen from the table the average modeled values per carat increased by an average of approximately 7 percent during the March 2004 to August 2004 time period. Separately, De Beers is on schedule with the pre-feasibility/feasibility in-depth project study. The conclusion of the study is expected in the second quarter of 2005. Mountain Province Diamonds Inc. is a diamond exploration and development company. 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-V: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. FOR FURTHER INFORMATION PLEASE CONTACT: Mountain Province Diamonds Inc. Jan W. Vandersande, Ph.D. President & CEO (909) 466-1411 (909) 466-1409 (FAX) Email: MtnProvInvRel@worldnet.att.net Website: www.mountainprovince.com