Dundee Precious Metals Completes Acquisition of INV Metals - Seite 2

Loma Larga adds approximately 2.6 million gold equivalent ounces (“Au oz. eq.”) of high-grade mineral reserves for an initial 12-year mine life and has the potential to produce an annual average of approximately 200,000 Au oz. in the first five years. Life of mine production is estimated to be approximately 170,000 Au oz. per year at an attractive all-in sustaining cost, net of by-products, of approximately US$630/oz., which continues to support DPM’s peer-leading cost profile.¹

DPM intends to explore further optimization studies at Loma Larga while continuing to advance the permitting process and will be taking a disciplined approach to project development, including minimizing up front spend during the permitting process while engaging with local communities in line with international best practices, and working to secure an investor protection agreement with the Ecuadorian government prior to making any significant capital commitments.

Delisting of INV Metals Common Shares

DPM intends to cause INV Metals to delist its common shares from the Toronto Stock Exchange (the “TSX”), to submit an application for it to cease to be a reporting issuer, and to otherwise terminate its public company reporting requirements as soon as possible thereafter. The common shares of DPM issued under the Arrangement are expected to be listed and posted for trading on the TSX on or about July 27, 2021.

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¹ For more information refer to the technical report “NI 43-101 Feasibility Study Technical Report, Loma Larga Project, Azuay Province, Ecuador” dated April 8, 2020, available at www.sedar.com.

About Dundee Precious Metals Inc.

Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Namibia, Serbia and Ecuador. The Company’s purpose is to unlock resources and generate value to thrive and growth together. This overall purpose is supported by a foundation of core values, which guides how the Company conducts its business and informs a set of complementary strategic pillars and objectives related to ESG, innovation, optimizing our existing portfolio, and growth. The Company’s resources are allocated in-line with its strategy to ensure that DPM delivers value for all of its stakeholders. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).