DPM Dundee Precious Metals Inc

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


In connection with its previously announced public offering on November 6, 2008,
Dundee Precious Metals Inc. (TSX:DPM) (the "Company") announced today that it
has entered into an underwriting agreement with a syndicate of underwriters
co-led by GMP Securities L.P. and Dundee Securities Corp. and including BMO
Capital Markets, to sell 31,112,000 Units at a price of C$2.25 per Unit to raise
gross proceeds of C$70,002,000 pursuant to a short form prospectus. Each Unit
will consist of one common share of the Company (a "Common Share") and one-half
of one common share purchase warrant (each whole common share purchase warrant,
a "Warrant"). Each Warrant will entitle the holder to acquire one additional
Common Share at an exercise price of $3.25 per share for a period of seven years
following the closing of the Offering. In addition, the Company has granted the
underwriters an over-allotment option to purchase up to that number of
additional Common Shares and half-Warrants equal to 15% of the Units sold
pursuant to the Offering, exercisable at any time up to 30 days from the closing
of the Offering. The Offering is subject to certain conditions, including
regulatory and TSX approval.


The Company intends to use the net proceeds for ongoing operating requirements,
capital expenditures, including project capital for the Chelopech mine
expansion, and general corporate purposes.


The Offering is expected to close on or about November 20, 2008.

Certain statements contained in this news release constitute forward-looking
statements. Such forward-looking statements involve a number of known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company's plans to differ materially
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
the statements were made, and readers are advised to consider such
forward-looking statements in light of the risks set forth in the Company's
Annual Information Form for the year ended December 31, 2007, a copy of which is
available at www.sedar.com.


This press release shall not constitute an offer to sell or a solicitation of an
offer to buy any securities in the United States. The securities have not been
registered under the U.S. Securities Act of 1933 any may not be offered or sold
in the United States absent registration or an exemption from the registration
requirements of the U.S. Securities Act of 1933.

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