TORONTO and NEW YORK, – Mountain Province Diamonds Inc. (TSX: MPVD) (OTC: MPVDF) (“Mountain Province”, or the “Company”) is pleased to announce the appointment of Ms. Kelly Stark-Anderson to its Board of Directors. Her appointment follows the departure of Dean Chambers, who has chosen the step-down due to other commitments.

Appointment of Director

An accomplished executive in the Canadian mining industry, Ms. Stark-Anderson has over 25 years experience in the legal, M&A, financing and governance areas, combined with deep experience in Environmental, Social, Governance (ESG) matters. Ms. Stark-Anderson is currently the Executive Vice President Corporate Affairs, General Counsel & Corporate Secretary and Corporate Compliance Officer for Dundee Precious Metals Inc. (TSX:DPM) and previously has acted as Vice-President, Legal and Corporate Secretary for SSR Mining Inc. Ms. Stark-Anderson led her own firm providing corporate/commercial, governance and securities compliance services to public, private and crown entities. Ms. Stark-Anderson’s deep experience in ESG, legal, financing and M&A will be a valuable addition to the Company’s board.

Jonathan Comerford, the Company’s Chairman, commented:

“We are extremely happy to have Kelly join our Board of Directors. Her legal expertise and strong ESG experience are areas we were seeking to strengthen on our Board, which together with her extensive governance experience will be extremely beneficial as the Company advances through 2022 and beyond.  The recent national award received by the Gahcho Kué mine for a collaborative monitoring program with the indigenous Ní Hadi Xa community is one example of the important work we do, and Kelly will bring a fresh perspective to our ESG approach. I would also like to thank Dean for his considerable contribution to the Board of Mountain Province during a very challenging time for the Company, and wish him well in his future endeavors.”

About Mountain Province Diamonds Inc.

Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories. The Gahcho Kué Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. The Company also controls 107,373 hectares of highly prospective mineral claims and leases surrounding the Gahcho Kué Mine that include an Indicated mineral resource for the Kelvin kimberlite and Inferred mineral resources for the Faraday kimberlites. Kelvin is estimated to contain 13.62 million carats (Mct) in 8.50 million tonnes (Mt) at a grade of 1.60 carats/tonne and value of US$63/carat. Faraday 2 is estimated to contain 5.45Mct in 2.07Mt at a grade of 2.63 carats/tonne and value of US$140/ct. Faraday 1-3 is estimated to contain 1.90Mct in 1.87Mt at a grade of 1.04 carats/tonne and value of US$75/carat. All resource estimations are based on a 1mm diamond size bottom cut-off.

For further information on Mountain Province Diamonds and to receive news releases by email, visit the Company’s website at www.mountainprovince.com.

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From: Canadian Northern Economic Development Agency

May 20, 2022, Whitehorse, Yukon Canadian Northern Economic Development Agency

Innovation and technology adoption are key to driving our economy forward. Small and medium businesses, and the organizations supporting them, are continuing to innovate and transform operations. Across the territories, through CanNor, the Government of Canada is investing to encourage innovation and the adoption of technology, while helping business start up, scale up and create local jobs and opportunities for Northerners.

Today, the Honourable Daniel Vandal, Minister of Northern Affairs, Minister for PrairiesCan and Minister for CanNor, announced that the Government of Canada is investing nearly $128,000 to support the Yukon’s innovation sector as it continues to strengthen and grow. This announcement aligns with Canadian Innovation Week, an opportunity to celebrate, recognize and support ingenuity across the country.

This funding, delivered by CanNor, supports three initiatives in Whitehorse. Though each project serves a different purpose, they all exemplify ingenuity and creativity within their fields. The impacts of these projects range from creating modular communications shelters, to supporting businesses interested in adopting artificial intelligence, to advancing physical and mental health, reconciliation and inclusivity.

Today’s announcement demonstrates the Government of Canada’s commitment to supporting the sustainable, diversified growth of economic sectors with a focus on strengthened entrepreneurship and Northern innovation.

Quotes

“Diversification and innovation is key to economic growth in the North and Arctic, and right across Canada. Our government will continue to invest in the ingenuity of Yukoners in creating good jobs, supporting inclusive growth, and building resiliency for years to come. These projects are impactful, and will inspire more innovation moving forward.”

The Honourable Daniel Vandal, Minister of Northern Affairs, Minister responsible for Prairies Economic Development Canada and Minister responsible for the Canadian Northern Economic Development Agency

“The Yukon is full of creative thinkers and problem-solvers. Through advancement in innovation, technology and partnerships, the Yukon continues to grow stronger and more vibrant. Today’s investment will further cultivate Northern entrepreneurship and bring new ideas to the forefront. Each of these projects will create jobs and growth, and promote a dynamic economy across the territory.”

Dr. Brendan Hanley, Member of Parliament for Yukon

“Yukoners’ ingenuity and creativity have helped find solutions that meet the unique needs of our territory and communities across Canada’s North. This investment will help innovators, entrepreneurs and local businesses expand, growing our local economy, as well as advance mental and physical wellness, reconciliation and inclusivity initiatives. I look forward to seeing the far-reaching economic and social benefits that comes with each of these projects.”

Ranj Pillai, Yukon Minister of Economic Development

“The funding opportunity from CanNor allows us at Total North to continue innovating and moving our product (Compod) forward as we look to grow from selling locally to becoming a nationwide distributor. The ability to purchase materials to build further iterations of the Compod had been crucial in the evolution of the product and we are extremely grateful for this opportunity.”

Dan Johnson, President, Total North Communications

“Growing the local tech industry in the Yukon has been an important part of Tech Yukon’s mandate, and our new North of AI – Business Acceleration program was designed to help accomplish this goal. With the support from CanNor, Yukon Government Department of Economic Development, and our partner Scale AI, we were able to build the North of AI program, supporting local tech start-ups and entrepreneurs, enabling them to move their ideas towards building thriving businesses. This program is a first of its kind in the Yukon and is also part of Canada’s AI supercluster. We are excited to continue our work with our funding partners, building future tech start-ups and creating local tech entrepreneurs.”

Ziad Sahid, Executive Director, Tech Yukon

“CanNor’s funding allowed Discovelo to strengthen and expand both our active software product offering and our company’s core by supporting an innovative integration of training, partnership development, and product design.  The funding agency’s belief in the importance we place on indigenous reconciliation and inclusion and diversity, and in translating these and other core values into actions and products that expand our growth potential has built confidence and provided inspiration to our entire team. We are grateful for CanNor’s vote of confidence in our vision for innovation in the space where health, fitness, and education intersect with these key values.””

Scott Keesey, Chief Executive Officer, Discovelo Inc.

Quick facts

• CanNor is investing nearly $128,000 to support three innovative technology projects in Whitehorse.
• Projects include Total Shelters, North of AI – Business and Learning Accelerator, and Content and Market Expansion for Gamified Active Learning.
• Inclusive Diversification and Economic Advancement in the North (IDEANorth) makes foundational investments in economic infrastructure, sector development and capacity building to help position Northerners in the territories to take advantage of Canada’s innovation economy.

Related products

• CanNor investments support innovation in the Yukon

Associated links

• IDEANorth
• Canadian Northern Economic Development Agency

Contacts

Kyle Allen
Press Secretary
Office of the Minister of Northern Affairs, Minister Responsible for Prairies Economic Development Canada, and Minister Responsible for the Canadian Northern Economic Development Agency
819-953-1153

Laura Seeley
Communications Advisor, Yukon
CanNor
[email protected]

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Vancouver, British Columbia ─ May 19, 2022 ─ NorZinc Ltd. (TSX: NZC; OTCQB: NORZF) (the “Company” or “NorZinc”) is pleased to announce the signing of a US$6 million (“M”), or approximately C$7.7M, secured loan agreement with RCF VI CAD LLC (“RCF”), the Company’s largest shareholder.

The proceeds from this investment will be used to fund the 2022 work program at the Prairie Creek Project announced by the Company on May 4, 2022, which will include a 5,300 metre surface exploration drill program to further validate the geotechnical structural controls and refine mining dilution volume estimates. Televiewer logging and analysis on the planned drill holes will provide additional data and improve certainty, and additional metallurgical sample collection and test work will increase the accuracy of the concentrate quality and recovery forecasts for mining in the initial three (3) to five (5) years.

“We value our relationship with RCF as our largest shareholder /partner and appreciate their continued support for the Company’s development of the Prairie Creek Project,” said Rohan Hazelton, President and CEO of NorZinc. “We look forward to commencing the planned 2022 work program which will establish new, high quality data that will form part of an enhanced, upgraded feasibility study to begin later this year.”

Ross Bhappu, Head of Mature Funds for RCF, stated “RCF is excited to make this investment in NorZinc as it advances the development of the important Prairie Creek zinc project. Our team looks forward to the continued collaborative efforts to bring the project to successful fruition for all stakeholders.”

The Company has signed an agreement with RCF, as lender, and Canadian Zinc Corporation (the “Guarantor”), a wholly-owned subsidiary of the Company, as guarantor, under which RCF will provide a US$6M (C$7.7M) (the “Principal Amount”) secured bridge loan (the “Bridge Loan”), carrying an interest rate of 8% per annum. The loan is secured by the Company’s and Guarantor’s present and future personal property, ranking in priority to all subsequent secured and unsecured creditors, excluding any mineral leases in relation to the Prairie Creek project. The loan is payable on maturity, being 18 months after the closing date of the Bridge Loan (the “Maturity Date”). The Company may prepay any of the RCF Loan, in whole or in part, at any time before the Maturity Date, including with the proceeds of the Rights Offering (as defined

below). This is provided that, in the case of any such repayment prior to the first anniversary of the closing of the Bridge Loan, the Company will pay to RCF the interest that would have accrued under the Bridge Loan until the first anniversary had such repayment not been made unless such repayment is effected by way of set-off of the RCF’s participation in the Rights Offering to maintain its pro rata ownership interest in NorZinc and/or the RCF’s right to backstop up to 100% of the Rights Offering (in which case no make-whole interest is payable).

RCF holds approximately 48.31% of the issued and outstanding shares of the Company.

The Bridge Loan contains customary negative pledges, and certain conditions including the completed Rights Offering, and certain other conditions. The closing of the loan and first drawdown is planned to occur upon receipt of approval of the loan from the TSX.

Under the terms of the Bridge Loan, the Company has agreed to complete a rights offering within 150 days following the closing of the Bridge Loan in an amount of at least US$ 4M (for a total of US$10M when combined with the commitment under the Bridge Loan (the “Rights Offering”).

About NorZinc

NorZinc is a TSX-listed mine development Company trading under the symbol “NZC” and on the OTCQB under the symbol “NORZF”. NorZinc is focused on developing its 100%-owned high-grade zinc-silver-lead Prairie Creek Project, located in the Northwest Territories.

Contact Information

Rohan Hazelton, President & CEO

Tel: (604) 688-2001 or Toll-free:1-866-688-2001

E-mail: [email protected]

www.norzinc.com

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