Dundee Precious Metals Inc. ("DPM" or the "Company")
(TSX:DPM)(TSX:DPM.WT)(TSX:DPM.WT.A) announced that it has reached an agreement
with Weatherly International plc, an AIM-listed company, ("WTI") to: (a)
subscribe for 40.5 million common shares of WTI for US$2.0 million, and (b) if
required by WTI within the subsequent 12 month period, subscribe for up to an
additional US$5.0 million worth of WTI common shares based on the then
prevailing market price but in no event less, save in certain circumstances,
than GBP0.03 per share.


The agreement is subject to final documentation as well as certain conditions,
including completion of a contract to extend the Chelopech/Namibia Custom
Smelters (Pty) Limited ("NCS") concentrate purchase arrangement from 2014 to and
including the year 2020 and to ship up to 140,000 tonnes of concentrate per
year. By agreement, the funds from the initial subscription will be advanced by
WTI to its subsidiary company, NCS, to cover the costs of certain capital
improvements being made to its Tsumeb copper smelter and for working capital
purposes.


Upon completion of the initial subscription, DPM will hold 9.1% of the issued
and outstanding shares of WTI.


Dundee Precious Metals Inc. is a Canadian based, international mining company
engaged in the acquisition, exploration, development and mining of precious
metals. DPM owns the Chelopech Mine, a producing gold/copper mine, and the
Krumovgrad Gold Project, a mining development project, both located in Bulgaria,
as well as a 95% interest in the Kapan Mine in Armenia. In addition, it is
engaged in mineral exploration activities in Serbia.
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