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 ("MoEW") has today issued the Integrated Pollution
Prevention and Control ("IPPC") permit for the metal processing facility to be
constructed at its Chelopech Mine in Bulgaria to its Bulgarian subsidiary,
Chelopech Mining EAD. 


"The IPPC permit is the key permit required for construction and operation of
the metals plant at our Chelopech Mine in Bulgaria and is critical to the
success of our expansion project," said Jonathan Goodman, President and CEO of
DPM. "We are extremely pleased by the positive actions taken by the new Prime
Minister and Ministry of Environment and Waters in Bulgaria in resolving these
matters which clearly illustrate their commitment to advancing business
interests and the economy of Bulgaria," said Mr. Goodman.


The IPPC and the Seveso (Working with Hazardous Substances) permits are
prerequisites for the issuance of the construction permit for the Chelopech
metal processing facility ("MPF"). The environmental impact assessment for the
Chelopech project, completed by the Balkan Science and Education Centre of
Ecology and Environment in November 2005, and registered in February 2006, was
approved by the MoEW in July 2008. The Seveso application is being processed and
is expected to be issued by year end. The project is fully compliant with all
European safety and environmental directives and industry Best Available
Techniques requirements, as determined by IPPC. The process engineering has
passed through a rigorous audit and been certified by The International Cyanide
Management Institute as being compliant with the International Cyanide
Management Code. Other permits required for construction of various components
of the facility are either in hand or in process. 


The MPF forms part of a two pronged expansion project that is currently underway
at the Chelopech Mine which will eventually produce, on average, 47.9 million
pounds of copper metal and 139,568 ounces of gold dore per annum, from 2012 to
2018, at the rate of two million tonnes of ore per annum. The combined project
comprises:


- Expansion of mine production capacity to 2.0 million tonnes per year;

- Modernization and upgrade of the existing concentrator to treat the mined
tonnage and produce up to 150,000 tonnes of concentrate per year;


- Installation of an MPF that incorporates pressure oxidation, solvent
extraction and electrowinning and carbon in leach cyanidation to treat the
copper/gold concentrate and produce copper cathode and gold dore; and


- Upgrade of the existing tailing management facility and construction of a new
facility for storage of the MPF tailings.


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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