DPM Dundee Precious Metals Inc

Dundee Precious Metals Inc. (TSX: DPM)(TSX: DPM.WT)(TSX: DPM.WT.A) (the "Company" or "DPM") is pleased to announce the appointment of Rick Howes, currently the General Manager and Executive Director of Chelopech Mining EAD, as Executive Vice President and Chief Operating Officer of DPM. Adrian Goldstone has also been promoted to become DPM's Executive Vice President of Sustainable Business Development.

"Since joining DPM in early 2009, Rick Howes has led the Chelopech operations and project teams to deliver consistently strong results while embarking on an ambitious expansion program", said Jonathan Goodman, President and Chief Executive Officer. "While Rick will maintain his position as General Manager of Chelopech in the short term, we look forward to his increased involvement across our global operations" he said. "In the four years Adrian Goldstone has been with us, he and his team have built a strong health, safety, environmental and sustainable development foundation upon which to base our business going forward" said Mr. Goodman. "This new management structure will also give me the additional capacity to pursue our long term business plan and growth strategy."

The General Manager of the Kapan mine in Armenia will now report directly to Mr. Howes, who will continue as Executive Director and General Manager of Chelopech for the time being. Mr. Howes is a Professional Engineer, holds a Bachelor of Science in Mining Engineering from Queen's University in Kingston, Ontario, Canada and has over 30 years experience in the mining industry. Throughout his career, he has been closely associated with the practices that make for world-class mining operations including Inco's North Mine which won the 2006 Ryan Award as the safest mine in Canada.

In his expanded role, Mr. Goldstone will continue to be responsible for DPM's corporate CSR function and the Krumovgrad gold project as well as assume responsibility for the operations and development at the Tsumeb smelter in Namibia. He holds a Bachelor and Master of Science from the University of Auckland and has 30 years of experience in the minerals sector in development and operating mineral projects in Africa, Russia, Europe, Asia, the Americas, Australia and New Zealand.

Dundee Precious Metals Inc. is a Canadian based, international mining company engaged in the acquisition, exploration, development, mining and processing of precious metals properties. The Company's operating interests include its 100% ownership of Chelopech Mining EAD, its principal asset being the Chelopech mine, a gold, copper, silver concentrates producer located east of Sofia, Bulgaria, a 100% ownership of Namibia Custom Smelters (Pty) Ltd., a concentrate processing facility located in Tsumeb, Namibia, and a 95% interest in Deno Gold Mining Company CJSC, its principal asset being the Kapan mine, a gold, copper, zinc, silver concentrates producer located in southern Armenia. DPM's interests also include a 100% interest in the Krumovgrad development stage gold property located in south eastern Bulgaria, near the town of Krumovgrad and certain exploration and exploitation properties in Serbia.

Contacts: Dundee Precious Metals Inc. Jonathan Goodman President & Chief Executive Officer (416) 365-2408 jgoodman@dundeeprecious.com Dundee Precious Metals Inc. Lori Beak Vice President, Investor Relations and Corporate Secretary (416) 365-5165 lbeak@dundeeprecious.com