DPM Dundee Precious Metals Inc

Dundee Precious Metals Inc. (TSX:DPM)(TSX:DPM.WT)(TSX:DPM.WT.A) ("DPM" or "the
Company") is pleased to announce that the permitting process for its Krumovgrad
gold project in Bulgaria has taken another step forward. Following the
submission of the Company's new Environmental Impact Assessment Report ("EIA")
and Natura 2000 Compatibility Assessment Report ("CAR") for the Krumovgrad gold
project proposal to the Bulgarian Ministry of Environment and Waters ("MoEW"),
the MoEW has delivered a "positive grade" to both the EIA and associated CAR,
meaning all information required under the EIA Regulation is complete. 


Based on this positive assessment of the quality of the submissions, and in
compliance with the requirements under the Bulgarian environmental legislation,
DPM will commence the public dissemination of the EIA documentation which will
culminate with organized public hearings with the Krumovgrad Municipality and
other potentially affected municipalities or villages. It is anticipated that
the public hearings will be completed during the first quarter of 2011.


The new project scope for the Krumovgrad gold deposit involves a significantly
reduced operating footprint with one major landowner, one single integrated
tailings and mine waste facility, a simplified processing route that does not
require the use of cyanide and a longer operating life than previously
considered. The changes that have led to this new scope are based on community
feedback on the earlier project proposal. For this project the EIA permit and
compatibility with the European Union legislative requirement to protect
habitats and species are the only major environmental approvals required.


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 100% 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.


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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