Dunav Resources Ltd. (TSX VENTURE:DNV) ("Dunav" or "the Company") announces
that, subject to regulatory approval, it has approved the grant of an aggregate
of 2,400,000 incentive stock options to officers, employees and consultants of
the Company in Canada and Serbia. The options are exercisable for a period of
five years at an exercise price of $0.55 and will vest in three equal tranches
over a two-year period. 


Sale of Dingo Peak and Share Cancellation

The Company also announces that it has completed the sale of its Dingo Peak
project to a private Australian company. The Dingo Peak mineral property,
located in Queensland, Western Australia, has been on care and maintenance since
October 2008. The Company closed its Australian exploration office in October
2009. As consideration, the purchaser granted the Company a 2% net smelter
returns royalty on Dingo Peak and an aggregate of 539,280 Dunav common shares
beneficially owned by parties related to the purchaser were transferred to the
Company for return to treasury and cancellation. 


Following the completion of the acquisition of the Tulare copper and gold
project, the Surdulica molybdenum project, and other early stage projects
located in Serbia from Dundee Precious Metals Inc. ("DPM") (see news release
dated September 2, 2011) and the cancellation of shares related to the sale of
Dingo Peak, the Company has 99,017,749 common shares issued and outstanding, of
which DPM owns 47,257,922, or approximately 47.7% on a non-diluted basis. 


About the Company

Dunav Resources is a mineral exploration company focused on the acquisition,
exploration and development of mineral properties in Serbia. The common shares
of Dunav trade on the TSX Venture Exchange under the symbol DNV. Additional
information about the Company is available on SEDAR at www.sedar.com and at
www.dunavresources.com.
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