DPM Dundee Precious Metals Inc

Dundee Precious Metals Inc. (TSX:DPM)(TSX:DPM.WT.A) ("DPM" or "the Company") has
announced that a five member panel of the Supreme Administrative Court (the
"Court") has upheld a previous Court decision to dismiss appeals filed against
the positive environmental impact assessment ("EIA") decision for its Krumovgrad
Gold Project in Bulgaria, issued by the Bulgarian Minister of Environment and
Waters. This decision is not subject to appeal.


"We are extremely pleased by the Court's decision to uphold the earlier ruling
to dismiss the appeals of the Minister's resolution approving the Krumovgrad
EIA", said Jonathan Goodman, President and CEO. "The EIA is a core permit in the
implementation of an investment project which now allows us to advance this
exciting project."


In 2012, the Court upheld the 30 year mining concession granted by the Bulgarian
Council of Ministers on the Khan Krum Deposit in Krumovgrad to DPM's subsidiary,
Balkan Mineral and Mining EAD. 


"Over the last several years we have worked hard to redevelop the Krumovgrad
project to address the concerns of the community and look forward to building a
project that will bring significant economic benefit to Bulgaria and the local
community, as well as DPM and its shareholders," Goodman said. 


Background

The proposed mine site is located at Ada Tepe, approximately three kilometres
south of the town of Krumovgrad in southeastern Bulgaria. The project plan
contemplates the construction of an open pit mining operation comprised of a
process plant, which will employ conventional crushing, grinding and flotation
processing for gold extraction, and the disposal of thickened tailings, together
with mine rock waste, in an integrated mine waste facility. A new feasibility
study, completed in November 2011, confirmed the commercial and economic
viability of the project, which has a payback of approximately 3.3 years. The
treatment rate of 850,000 tonnes per year is consistent with existing permitting
applications and environmental submissions and, at this production rate, the
project has a mine life of approximately nine years. 


Dundee Precious Metals Inc. is a 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 Deno Gold operation, which produces 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 53.1% owned
subsidiary, Avala Resources Ltd., its 47.3% interest in Dunav Resources Ltd. and
its 10.7% interest in Sabina Gold & Silver Corp.


FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" that involve a number of
risks and uncertainties. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold and silver, the
estimation of mineral reserves and resources, the realization of mineral
estimates, the timing and amount of estimated future production and output,
costs of production, capital expenditures, costs and timing of the development
of new deposits, success of exploration activities, permitting time lines,
currency fluctuations, requirements for additional capital, government
regulation of mining operations, environmental risks, unanticipated reclamation
expenses, title disputes or claims, limitations on insurance coverage and timing
and possible outcome of pending litigation. Often, but not always,
forward-looking statements can be identified by the use of words such as
"plans", "expects", or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or
"believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved. Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made, and they
involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to be materially
different from any other future results, performance or achievements expressed
or implied by the forward-looking statements. Such factors include, among
others: the actual results of current exploration activities; actual results of
current reclamation activities; conclusions of economic evaluations; changes in
project parameters as plans continue to be refined; future prices of gold,
copper, zinc and silver; possible variations in ore grade or recovery rates; 

failure of plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing or in the completion of development or
construction activities, fluctuations in metal prices, as well as those risk
factors discussed or referred to in documents filed from time to time with the
securities regulatory authorities in all provinces and territories of Canada and
available at www.sedar.com. Although the Company has attempted to identify
important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be anticipated,
estimated or intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Unless required by
securities laws, the Company undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions should change.
Accordingly, readers are cautioned not to place undue reliance on
forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Dundee Precious Metals Inc.
Jonathan Goodman
President & Chief Executive Officer
(416) 365-2408
jgoodman@dundeeprecious.com


Dundee Precious Metals Inc.
Lori Beak
Senior Vice President, Investor &
Regulatory Affairs and Corporate Secretary
(416) 365-5165
lbeak@dundeeprecious.com

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