Mr. David Rae reports

DUNDEE PRECIOUS METALS ANNOUNCES FIRST QUARTER 2025 PRODUCTION RESULTS

Dundee Precious Metals Inc. released preliminary production results from both of its mines for the quarter ended March 31, 2025.

"With solid gold production in the first quarter, we are on track to meet our guidance for 2025, with higher production planned for the second half of the year," said David Rae, president and chief executive officer. "We also continued our peer-leading capital returns program, repurchasing approximately $83-million shares during the first quarter."

Production highlights

Preliminary results from continuing operations for the first quarter are provided in the attached table.

As disclosed in management's discussion and analysis (MD&A) for the year ended Dec. 31, 2024, issued on Feb. 13, 2025, and available at SEDAR+ and at the Dundee Precious website.

Operating highlights

Chelopech produced approximately 37,400 ounces of gold and 5.9 million pounds of copper during the first quarter, in line with the mine plan. With gold and copper grades expected to increase in the second quarter, Chelopech is on track to achieve its production guidance for 2025.

Ada Tepe produced approximately 12,500 ounces of gold in the first quarter, in line with expectations. As previously disclosed in February, 2025, gold production at Ada Tepe is forecast to be approximately 50-per-cent lower in the first half of 2025 as compared with the second half of the year due to the cell sequencing of its integrated mine waste facility. Ada Tepe is on track to achieve its gold production guidance for the year.

Returning capital to shareholders

During the first quarter of 2025, Dundee Precious repurchased approximately 7,551,023 common shares at an average price of $11.04 (U.S.) ($15.86) per share for a total cost of approximately $83-million (U.S.) under the normal course issuer bid (NCIB).

As previously announced in February, 2025, Dundee Precious will pay a quarterly dividend of four U.S. cents per share on April 15, 2025, to shareholders of record on March 31, 2025.

Timing of first quarter 2025 operating and financial results

The company plans to release its first quarter 2025 operating and financial results after market close on Tuesday, May 6, 2025. The news release, MD&A (management's discussion and analysis), and condensed interim consolidated financial statements will be posted on SEDAR+ and on the company's website.

On Wednesday, May 7, 2025, at 9 a.m. ET, Dundee Precious will host a conference call and audio webcast to discuss the results, followed by a question-and-answer session. To participate via conference call, register in advance at the link below to receive the dial-in information as well as a personalized PIN code to access the call.

About Dundee Precious Metals Inc.

Dundee Precious Metals is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Serbia and Ecuador. The company's strategic objective is to become a mid-tier precious metals company, which is based on sustainable, responsible and efficient gold production from the company's portfolio, the development of quality assets, and maintaining a strong financial position to support growth in mineral reserves and production through disciplined strategic transactions. This strategy creates a platform for robust growth to deliver above-average returns for the company's shareholders. Dundee Precious's shares are traded on the Toronto Stock Exchange (symbol: DPM).

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