Dundee Precious Metals Announces Record 2019 Production Results and Timing of Fourth Quarter and Full Year 2019 Financial Results

TORONTO, Jan. 09, 2020 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or the “Company”) announced record gold production along with smelter production for the three and twelve months ended December 31, 2019, meeting its updated consolidated guidance for the year.

“2019 was a pivotal year for DPM as we commissioned our second gold mine and generated record consolidated gold production. Our Ada Tepe gold production was particularly impressive given that this was achieved primarily over the last two quarters following the commissioning in June of last year.” stated Rick Howes, President and CEO. “We are extremely excited regarding our potential going forward as we will now benefit from gold production at both of our producing mines and optimized performance at our smelter.”

Production Highlights

Fourth quarter and year end 2019 ore milled and metals produced at Chelopech and Ada Tepe as well as complex concentrate smelted at the Tsumeb smelter are provided below.

	Chelopech		Ada Tepe		Tsumeb		Consolidated		2019 Updated Consolidated Guidance(1)	2019 Original Consolidated Guidance(2)
	Q4 2019	Full Year 2019	Q4 2019	Full Year 2019	Q4 2019	Full Year 2019	Q4 2019	Full Year 2019
Ore milled (‘000s tonnes)	548	2,203	217	471	-	-	765	2,674	2,542 – 2,662	2,540 – 2,790
Metals contained in concentrate produced
Gold (‘000s ounces)	43.0	173.4	26.5	57.2	-	-	69.5	230.6	200 – 247	210- 262
Copper (million pounds)	10.0	37.2	-	-	-	-	10.0	37.2	33 – 39	33 - 39
Payable metals in concentrate sold
Gold (‘000s ounces)	43.2	152.2	38.9	49.4	-	-	82.1	201.6	180 – 221	191 - 237
Copper (million pounds)	11.4	34.5	-	-	-	-	11.4	34.5	32 – 37	32 - 37
Complex concentrate smelted (‘000s tonnes)	-	-	-	-	-	-	48.6	215.3	210 – 230	225 - 250

1. As disclosed in Management’s Discussion and Analysis (“MD&A”) for the period ended September 30, 2019, issued on November 7, 2019, that can be found on the Company’s website at www.dundeeprecious.com and available at www.sedar.com.
2. As disclosed in Management’s Discussion and Analysis (“MD&A”) for the period ended December 31, 2018, issued on February 12, 2019, that can be found on the Company’s website at www.dundeeprecious.com and available at www.sedar.com.

At Chelopech, gold contained in concentrate produced for the fourth quarter was slightly above expectations as a result of mining in higher grade zones and higher gold recoveries in pyrite concentrate. Copper production was also in line with the mine plan. Chelopech continued its strong performance and reliable delivery during the year and achieved 2019 guidance.