DUNDEE PRECIOUS METALS REPORTS OPERATIONS CONTINUE AND OUTLINES PROACTIVE COVID-19 RESPONSE MEASURES

TORONTO, March 25, 2020 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX: DPM) (the “Company” or “DPM”) reports that it continues to operate fully in line with previously issued guidance at all sites and has not experienced any disruptions to its production as a result of COVID-19 or any travel restrictions implemented by local governments.

“We are monitoring the situation closely and our highest priority is ensuring the health and well-being of our workforce and the communities in which we operate. We are also focused on minimising any potential disruption to our business and are well prepared with comprehensive contingency plans in place,” said Rick Howes, President and CEO. “Given our financial and operating strength, we are confident that we can navigate and respond to this rapidly evolving global pandemic.”

While there have been reported cases of COVID-19 in Bulgaria, Namibia, and Serbia, production from the Company’s mining and smelting operations has not been negatively impacted. The Company is taking proactive measures to safeguard the health of its workforce and local communities, manage supply chains and address the risks posed by the pandemic.

Workforce and Local Communities

DPM has been closely following national safety instructions provided by authorities and has proactively introduced protocols to protect the health of our employees, including site access controls and work from home measures. 

As the situation evolves, DPM is considering ways that the Company can contribute to government and societal efforts to confine the spread of the virus and sustain economic activities. The Company has engaged with local communities and authorities to identify their needs and is assisting health care providers with financial support and materials, with a specific focus on the vulnerable groups within the communities in which DPM operates.

Supply Chain

DPM is proactively managing inventories, reviewing alternative supply options and developing contingency plans for inbound and outbound supply of materials. Most key supplies and consumables for DPM’s operations in Bulgaria are sourced locally, and to date the Company has not experienced any disruption to its inbound supply chain. In Namibia, Tsumeb currently has a sufficient supply of complex concentrate at site and at the local port facility, with additional supply scheduled to be shipped between now and the end of April. DPM is also focused on managing its outbound supply chains, including concentrate shipments from Bulgaria and sulfuric acid shipments from Namibia, by engaging with multiple sale and transportation outlets.