Ms. Jennifer Cameron reports

STATEMENT REGARDING RESPONSE TO PRESS SPECULATION

Dundee Precious Metals Inc. has noted the recent announcement by Adriatic Metals PLC and has confirmed that Dundee Precious is in discussions regarding a possible offer for the entire issued and to-be-issued share capital of Adriatic.

There can be no certainty that any offer will be made, nor as to the terms on which any offer might be made. This announcement does not amount to a firm intention to make an offer under Rule 2.7 of the code nor does it impose any obligations on Dundee Precious to make an offer.

Rule 2.6(a) of the code requires that Dundee Precious, by no later than 5 p.m. London time on June 17, 2025, being the 28th day following the date of this announcement, to either announce a firm intention to make an offer for Adriatic in accordance with Rule 2.7 of the code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the code applies. This deadline will only be extended with the consent of the takeover panel in accordance with Rule 2.6(c) of the code.

About Dundee Precious Metals Inc.

Dundee Precious is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Serbia and Ecuador. Its strategic objective is to become a mid-tier precious metal company, which is based on sustainable, responsible and efficient gold production from its 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 its shareholders. Dundee Precious's shares are traded on the Toronto Stock Exchange.

We seek Safe Harbor.