DPM Dundee Precious Metals Inc

Dundee Precious Metals Inc. ("DPM" or the "Company")
(TSX:DPM)(TSX:DPM.WT)(TSX:DPM.WT.A) announced that the Bulgarian Ministry of
Environment and Waters has today issued a Commercial Discovery Certificate for
the Krumovgrad gold deposit (the "Certificate") to its Bulgarian subsidiary,
Balkan Mineral and Mining EAD.


"The receipt of the Commercial Discovery Certificate represents an important
step in advancing our Krumovgrad project. With our EIA process restarted, the
Certificate is the final requirement for conversion of the property to a mining
concession, the application for which has already been filed with the
government," said Jonathan Goodman, President and CEO of DPM. "We are encouraged
by the new government's action in resolving this long outstanding issue and hope
this paves the way to address the balance of permits required to bring our
Krumovgrad project into operation."


The Certificate follows the Geological Discovery Certificate for gold-bearing
mineral resources within the Krumovgrad License, issued in 2001, and is a
prerequisite towards obtaining a mining concession.


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.


FORWARD-LOOKING STATEMENTS

This news release may contain certain information that constitutes
forward-looking statements. Forward-looking statements are frequently
characterized by words such as "plan," "expect," "project," "intend," "believe,"
"anticipate" and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those projected in the
forward-looking statements. These factors include the inherent risks involved in
the exploration and development of mineral properties, the uncertainties
involved in interpreting drilling results and other geological data, fluctuating
metal prices and other factors described above and in the Company's most recent
annual information form under the heading "Risk Factors" which has been filed
electronically by means of the Canadian Securities Administrators' website
located at www.sedar.com. The Company disclaims any obligation to update or
revise any forward-looking statements if circumstances or management's estimates
or opinions should change. The reader is cautioned not to place undue reliance
on forward-looking statements.

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