Dundee Precious Metals Inc. (TSX:DPM)(TSX:DPM.WT)(TSX:DPM.WT.A) ("DPM" or "the
Company") is pleased to announce that the five member panel of the Bulgarian
Supreme Administrative Court (the "Court") has now confirmed the earlier ruling
of the three member panel terminating the appeal proceedings of the Krumovgrad
mining concession on the grounds that the appeals filed are inadmissible as the
parties involved have no legal interest in the proceedings. This Court decision
is final and confirms the rights of Balkan Mineral and Mining EAD, a subsidiary
of DPM, over the mining concession for a 30 year period. 


"We are extremely pleased with the findings of the Court," said Jonathan
Goodman, President and CEO of DPM. "The resolution of the concession appeal is
another step forward in the development of the Krumovgrad gold project, which we
expect to prove beneficial to the local community and Bulgaria, as well as the
stakeholders of the Company."


The environmental impact assessment ("EIA") on the Krumovgrad project was
approved by the Minister of the Environment and Waters on November 24, 2011 and
has been appealed. Mining activities may not commence on the property until the
EIA appeal is resolved. The Company is currently awaiting notification of a
hearing date.


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 well-financed, Canadian based, international
gold mining company engaged in the acquisition, exploration, development, mining
and processing of precious metals. The Company's principal operating assets
include the Chelopech operation, which produces a gold, copper and silver
concentrate, located east of Sofia, Bulgaria; the Kapan operation, which
produces a gold, copper, zinc and silver concentrate, located in southern
Armenia; and the Tsumeb smelter, a concentrate processing facility located in
Namibia. DPM also holds interests in a number of developing gold properties
located in Bulgaria, Serbia, and northern Canada, including interests held
through its 51.4% owned subsidiary, Avala Resources Ltd., its 47.7% interest in
Dunav Resources Ltd. and its 11.5% interest in Sabina Gold & Silver Corp. 


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.
Dundee Precious Metals (TSX:DPM)
Historical Stock Chart
From Jul 2024 to Jul 2024 Click Here for more Dundee Precious Metals Charts.
Dundee Precious Metals (TSX:DPM)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Dundee Precious Metals Charts.