TSX: DPM

Gold:

Dundee Precious Metals Reports High-Grade Copper-Gold Discoveries within One Kilometre of the Čoka Rakita Project; Results include 63 metres at 1.74% Cu, 2.18 g/t Au and 9.04 g/t Ag

September 11, 2024

TORONTO, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) reported results from drilling at the high-grade copper-gold Dumitru Potok and Frasen prospects, located approximately one kilometre north of the Čoka Rakita project.

Highlights
(Refer to Tables 1, 2 and 3 for full results)

  • High-grade scout drilling results from Dumitru Potok and Frasen include:
    • DPDD018A – 63 metres at 1.74% Cu, 2.18 g/t Au and 9.04 g/t Ag,
      including 15 metres at 3.38% Cu, 4.00 g/t Au and 14.7 g/t Ag
    • DPDD019B – 70 metres at 1.26% Cu, 1.21 g/t Au and 6.89 g/t Ag,
      including 15 metres at 2.70% Cu, 2.65 g/t Au and 20.10 g/t Ag
    • BIDD233 – 44 metres at 1.03% Cu, 0.85 g/t Au and 6.08 g/t Ag
    • BIDD236A – 21 metres at 1.77% Cu, 1.2 g/t Au and 43.47 g/t Ag
    • BIDD229 – 17 metres at 1.39% Cu, 1.35 g/t Au and 6.68 g/t Ag,
      including 9.2 metres at 2.04% Cu, 1.45 g/t Au and 9.6 g/t Ag
  • Dumitru Potok prospect: Results confirm the presence of high-grade copper-gold-silver stratabound skarn mineralization, with drilling demonstrating a continuous zone of strong mineralization along a 250-metre corridor open to the north, south and east.
  • Frasen prospect: Drilling returned manto-like carbonate-hosted replacement and skarn copper-gold mineralization at the conglomerate-marble contact over an area of 700 metres by 500 metres at Frasen West, with potential to extend this zone southeast towards the stratabound skarn copper-gold mineralization intersected by the deep drilling at Čoka Rakita North.
  • Regional potential: These drilling results confirm large-scale potential for stratabound skarn copper-gold-silver mineralization and additional potential for high-grade sandstone-hosted skarn mineralization. An improved conceptual targeting model that implies a large-scale hybrid porphyry–iron oxide copper-gold (IOCG) system has been developed to help prioritize ongoing drilling.
  • Next steps: Continued drilling program to pursue additional potential skarn and manto-like stratabound targets through scout and target delineation drilling campaigns on the Čoka Rakita, Potaj Čuka and Pešter Jug licences.

Visit https://vrify.com/decks/16865 to view an interactive 3D model highlighting these results.

“Located approximately one kilometre from our Čoka Rakita project, we are excited by the exploration potential of the high-grade copper-gold Dumitru Potok and Frasen discoveries,” said David Rae, President and Chief Executive Officer of Dundee Precious Metals.

“These new results highlight the high-grade nature of what we are seeing from our exploration activities and confirm the large-scale potential for further high-grade copper-gold mineralization at Čoka Rakita and the surrounding licences.”

Dumitru Potok and Frasen Drilling Program Overview

The Company has continued to progress its scout drilling program, completing over 22,000 metres and 28 drill holes since the previous update on February 26, 2024, with seven drill holes in progress.

These new scout drilling results allow for a better understanding of the wider geological setting and illustrate the large-scale of the mineralizing system on the licence package. The high-grade copper-gold mineralization encountered is found as stratabound mineralized zones developed within reactive sedimentary units which occur in proximity to fertile diorite porphyries that also exhibit weak to moderate copper-gold mineralization. The Company’s exploration teams have observed features that are characteristic of a transition between porphyry copper-gold-molybdenum mineralization and IOCG mineral systems that would imply camp scale potential for stratabound skarn mineralization when evaluating these traits against the current geological architecture.

Observed characteristics include:

  • Alkalic-hybrid fertile intrusions associated with large-scale early sodic-potassic alteration footprints;
  • Consistent presence of mineralization associated to potassic and skarn alteration within more reactive lithological host units, that include marls, sandstones, conglomerates and marbles.
  • Association of copper and gold with highly elevated iron in the form of abundant iron-oxides and iron-rich silicates; and
  • Zoned and overprinted pyrite - chalcopyrite - bornite - chalcocite - digenite - native copper hypogene mineral paragenesis, associated to increasing Cu/Fe, Au/Cu and decreasing S toward depths and proximal to magmatic feeders.

See Figures 1 and 2 for plan and section views highlighting recent drilling at the Dumitru Potok and Frasen prospects.

At the Dumitru Potok prospect , located approximately one kilometre northeast of Čoka Rakita, a directional drilling program with multiple daughter holes outlined a subvertical fertile monzodiorite intrusive body, with proximal high-grade stratabound copper-gold-silver mineralization within the conglomerate-marble contact zone. Mineralization is found at both the eastern and western sides of the intrusion.

On the eastern flank of the outlined monzodiorite intrusion, follow-up daughter drill holes DPDD012A, DPDD19A and DPDD19B intersected consistent high-grade copper-gold stratabound mineralization along a 250-metres corridor, which is open to the north, south and east. A significant intercept demonstrating the width and grade tenor is drillhole DPDD019B, which returned:

  • 70 metres at 1.26% Cu, 1.21 g/t Au and 6.89 g/t Ag from 372 metres downhole depth, including
    15 metres at 2.7% Cu, 2.65 g/t Au and 20.1 g/t Ag; and
  • 45 metres at 0.72% Cu, 0.96 g/t Au and 3.13 g/t Ag from 473 metres downhole depth.

On the western flank of the same monzodiorite body, the daughter holes DPDD014B and DPDD018A as well as scout holes BIDD226, DPDD017, and DPDD020 drill holes intersected high-grade stratabound copper-gold mineralization along a 1,000-metre north-northwest trending corridor. Of note was the intercept on the western flank, encountered by the daughter hole DPDD018A, which returned:

  • 63 metres at 1.74% Cu, 2.18 g/t Au and 9.04 g/t Ag from 639 metres downhole depth, including
    15 metres at 3.38% Cu, 4 g/t Au and 14.7 g/t Ag.

See Figure 3 for details of the mineral assemblage in DPDD018A. For complete list of assay results from the Dumitru Potok prospect, see Table 1.

Considering these results, DPM has commenced a systematic target delineation drilling campaign at Dumitru Potok aimed to further extend these high-grade zones and build additional confidence on the shape, size and grade tenor of the encountered mineralization.

At the Frasen prospect , located approximately one kilometre north-west of Čoka Rakita, systematic drilling has confirmed manto-like carbonate-hosted replacement and skarn mineralization at the conglomerate-marble contact over an area of 700 metres by 500 metres. Drilling aimed to test for mineralization up-stratigraphy and westward from the Frasen-porphyry that was previously intersected in drillhole BIDD224 and is considered as the causative intrusion for high-grade manto-like copper-gold replacement mineralization.

Significant intercepts have been returned from several new holes completed at Frasen and are listed in Table 2. Of particular interest is the BIDD236A daughter drill hole from the northern, shallower part of the target which returned:

  • 21 metres at 1.77% Cu, 1.2 g/t Au and 43.47 g/t Ag from 112 metres downhole depth.

Another significant zone was intersected by drillhole BIDD229, which returned a high grade intercept:

  • 17 metres at 1.39% Cu, 1.35 g/t Au and 6.68 g/t Ag from 700 metres downhole depth, including
    9.2 metres at 2.04% Cu, 1.45 g/t Au and 9.6 g/t Ag.

At the southern flank of the prospect, hole BIDD233 returned:

  • 44 metres at 1.03% Cu, 0.85 g/t Au and 6.08 g/t Ag from 708 metres downhole depth at the conglomerate and marble contact zone.

These new drill intercepts open up the potential to extend this high-grade manto-like zone to the southeast to the carbonate-hosted copper-gold replacement mineralization, previously intersected by the deep drilling at Čoka Rakita North (RIDD001, RIDD002, RIDD008, RIDD009, RADD043 and RADD044, see Table 3 for complete results).

Hole RADD046 from the Čoka Rakita North prospect, returned multiple intervals of moderate copper-gold grades, including:

  • 13 metres at 0.59% Cu, 0.62 g/t Au and 3.18 g/t Ag from 938 metres downhole depth, and
    28 metres at 0.54% Cu, 0.36 g/t Au and 2.4 g/t Ag from 1,007 metres downhole depth.

Further to this, scout drilling on the southern flank of the Čoka Rakita deposit returned a series of promising intercepts from drill hole RADD047, that includes:

  • 15 metres at 0.93% Cu, 0.45 g/t Au and 2.50 g/t Ag from 632 metres downhole depth, hosted by a brecciated and skarn altered monzonite-conglomerate contact zone.

The interpretation of these results suggest that high-grade stratabound copper-gold skarn mineralization extends below Čoka Rakita and is open to south. Further drilling is planned to follow-up on these results, as well as to test the larger footprint of coincident surface geochemical anomaly and to test the target skarn stratigraphy, which is still open to the south and southwest from Čoka Rakita. Additionally, several scout holes are planned to test the same stratigraphy and coincident geology, about two kilometres to the south.

For a complete list of results from the Frasen prospect, see Table 2.

Significant 2024 Exploration Program Ongoing

For the rest of 2024, DPM’s exploration program includes approximatively 35,000 metres of drilling to follow-up on positive results and to continue testing the enhanced targeting models. A portion of this drilling will be dedicated to the Dumitru Potok and Frasen prospects, which will aim to define the stratabound-hosted mineralization, which is open in multiple directions, and to better understand the variability of the mineralization along strike and away from the causative intrusions. Exploratory testwork will be initiated to determine the metallurgical characteristics of the key copper-gold-silver mineralization styles.

Furthermore, the Company aims to follow-up on the newly completed magneto-telluric (MT) survey, which highlighted several significant conductivity targets on the Potaj Čuka exploration licence, extending for several kilometres along strike north of Dumitru Potok, which share the same characteristics and geological setting as the Dumitru Potok and Frasen prospects due to their prospective stratabound and porphyry style mineralization.

The Company has budgeted between $20 million and $22 million for exploration activities in Serbia in 2024, with $9.5 million spent in the first six months of the year.


Figure 1. Project scale map highlighting the updated targets and results from the ongoing scout drilling program.

Figure 1.


Figure 2. Cross section looking north at the Frasen and Dumitru Potok targets, located approximately one kilometre north of the Čoka Rakita deposit, showing scout drilling, the conceptual geology model and interpretation of target mineralization styles.

Figure 2.


Figure 3. Images showing the core photos of copper-gold manto skarn mineralization from hole DPDD018A, taken from within the interval reporting 15 metres at 3.38% Cu, 4 g/t Au and 14.7 g/t Ag from 643 metres downhole (1,108 m total depth from surface).

Images showing the core photos of copper-gold manto skarn mineralization from hole DPDD018A, taken from within the interval reporting 15 metres at 3.38% Cu, 4 g/t Au and 14.7 g/t Ag from 643 metres downhole (1,108 m total depth from surface).

a) Half-NQ size core boxes from DPDD018A starting at 640.8 metres downhole and ending at 648.7 metres downhole, displaying copper and gold assay values for each metre.
   
b) Macro images of NQ size half-core from the same intervals displaying textural variability, from garnet - hematite dominated skarn with chalcopyrite cement on upper right, semi-massive digenite and quartz-carbonate hydrothermal replacement in center right and late limonite-hematite-native copper mineralization on lower right. Abbreviations: Cpy – chalcopyrite; Bo – bornite; Cov – covellite; Dig – digenite; Hem – hematite; Lim – limonite; Q – quartz; Gn – garnet.
   

Table 1: Reported drill intercepts from the scout drilling campaign at Dumitru Potok:

HOLEID EAST NORTH RL AZ DIP FROM TO LENGTH CuEq Cu Au Ag
(m) (m) (m) (%) (%) (g/t) (g/t)
DPDD012* 572990 4896008 917 238 -50 1155 1181 26 5.92 3.54 3.03 15.30
and           1214 1244 30 2.26 1.36 1.11 9.80
including           1218 1223 5 4.95 3.16 2.15 22.20
DPDD012A 573476 4897208 48 238 -53 354 385 31 2.42 1.45 1.19 10.00
including           369 384 15 4.26 2.57 2.05 17.90
and           391 399.2 8.2 3.80 2.03 2.17 18.90
DPDD013 573265 4897529 669 235 -50 aborted for technical reasons / no significant intervals
DPDD013A* 573040 4897370 337 235 -52 84 93 9 1.07 0.64 0.55 1.80
DPDD014 573311 4897351 687 242 -51 aborted for technical reasons / no significant intervals
DPDD014B 572965 4897130 124 238 -58 356 390 34 1.52 1.15 0.43 5.80
including           380 387.4 7.4 3.64 2.94 0.78 13.70
DPDD015 573860 4896934 649 240 -49 aborted for technical reasons / no significant intervals
DPDD015A 573499 4896700 124 238 -49 in progress
DPDD016 573695 4897658 726 231 -50 no significant intervals
DPDD017 573307 4896780 711 232 -61 402 408 6 5.73 4.65 1.38 6.40
and           1034 1044.3 10.3 1.07 0.78 0.34 4.60
and           1106 1143.7 37.7 1.02 0.73 0.37 1.40
DPDD018 573267 4897528 669 224 -71 154 162 8 2.60 1.17 1.90 2.13
DPDD018A 573180 4897417 227 218 -72 639 702 63 3.43 1.74 2.18 9.04
including           643 658 15 6.47 3.38 4.00 14.70
including           677 701 24 3.54 1.84 2.16 10.50
DPDD019 573268 4897247 697 213 -82 completed / awaiting results
DPDD019A 573237 4897198 248 222 -83 390 428.8 38.8 2.23 1.22 1.25 9.10
including           400 421 21 3.05 1.67 1.71 12.70
and           501.8 509 7.2 0.84 0.32 0.68 2.40
DPDD019B 573235 4897196 210 163 -88 372 442 70 2.22 1.26 1.21 6.89
including           401 416 15 4.84 2.70 2.65 20.1
and           473 518 45 1.46 0.72 0.96 3.13
DPDD019C 573239 4897198 258 216 -84 completed / awaiting results
DPDD020 573262 4897014 722 241 -55 587 592 5 1.17 0.76 0.52 2.80
and           649 661 12 1.59 1.02 0.73 3.30
and           948 981 33 1.07 0.66 0.51 3.00
and           998 1013 15 0.85 0.35 0.66 1.20
and           1026 1031 5 1.45 1.07 0.47 3.90
and           1100 1106 6 0.94 0.54 0.54 0.60
DPDD021 573115 4897637 680 240 -65 in progress
DPDD022 572687 4896993 775 64 -81 in progress
DPDD023 573665 4897081 698 250 -71 in progress
DPDD024 573267 4897528 669 50 -55 completed / awaiting results
DPDD025 573695 4897658 726 229 -67 in progress
DPDDHG001 572956 4897237 740 150 -89 in progress


Table 2: Reported drill intercepts from the scout drilling campaign at Frasen:

HOLEID EAST NORTH RL AZ DIP FROM TO LENGTH CuEq Cu Au Ag
(m) (m) (m) (%) (%) (g/t) (g/t)
BIDD052* 572051 4897096 942 241 -70 348 356 8 3.48 1.68 2.33 8.92
BIDD054* 572351 4896882 906 281 -70 188 212 24 0.94 0.14 1.07 0.48
BIDD173* 572421 4897199 870 242 -64 664 689 25 0.99 0.65 0.43 2.00
BIDD178* 571972 4897190 926 235 -55 237 259 22 2.02 0.61 1.83 6.86
including           242 251 9 3.47 1.01 3.25 6.30
BIDD221* 572228 4897176 922 242 -60 486 491 5 2.00 1.45 0.64 8.37
BIDD222* 572417 4897031 891 249 -60 706 714 8 3.35 2.36 1.26 7.00
BIDD223* 572692 4896998 775 256 -60 628 638 10 0.92 0.66 0.20 13.20
and           657 679 22 1.71 1.00 0.92 3.70
including           663 669 6 3.20 2.02 1.49 7.80
BIDD224* 572691 4896996 775 239 -74 327 372 45 0.86 0.26 0.80 1.10
and           394 406 12 0.81 0.20 0.81 0.90
and           792 800 8 0.81 0.50 0.40 1.70
BIDD225 572527 4897425 816 260 -70 656 666 10 0.81 0.15 0.87 2.40
BIDD226 572727 4897373 772 253 -71 144 152 8 2.51 1.90 0.78 3.60
including           145 151 6 3.02 2.27 0.96 3.90
and           611 645 34 1.59 1.07 0.67 3.70
BIDD227 572727 4897371 772 236 -59 no significant intervals
BIDD227A 572610 4897296 537 242 -58 435 442 7 1.02 0.67 0.42 4.27
BIDD228 572087 4897025 945 241 -60 no significant intervals
BIDD229 572504 4896835 861 266 -62 700 717 17 2.45 1.39 1.35 6.68
including           706.8 716 9.2 3.2 2.04 1.45 9.6
and           901 915 14 1.24 0.76 0.60 4.51
BIDD230 572085 4897262 930 242 -67 329 344 15 1.19 0.81 0.50 1.27
and           369 382 13 0.86 0.6 0.27 6.82
BIDD231 572163 4897242 930 241 -55 no significant intervals
BIDD232 572085 4897261 930 241 -50 323 336 13 1.93 0.46 1.81 14.55
BIDD233 572503 4896835 861 242 -55 708 752 44 1.71 1.03 0.85 6.08
BIDD234 572194 4897315 921 248 -59 229 236 7 1.91 0.09 2.46 0.72
BIDD235 572062 4897149 940 240 -55 281 308 27 1.57 0.65 1.15 7.32
including           298 307 9 3.05 1.15 2.34 18.9
BIDD236 572064 4897150 940 241 -65 aborted for technical reasons / no significant intervals
BIDD236A 571990 4897109 760 242 -65 112 133 21 3.05 1.77 1.2 43.47
BIDD237 572987 4896757 773 244 -44 completed / awaiting results
BIDD238 572555 4896692 862 61 -49 completed / awaiting results
BIDD239 572055 4897420 892 238 -55 completed / awaiting results
BIDD240 572417 4897031 891 80 -60 in progress


Table 3: Drill holes results from the scout drilling campaign at Čoka Rakita that intercepted the deeper stratabound Cu-Au-Ag target:

HOLEID EAST NORTH RL AZ DIP FROM TO LENGTH CuEq Cu Au Ag
(m) (m) (m) (%) (%) (g/t) (g/t)
RIDD001* 572991 4896010 917 295 -67 694 704.1 10.1 1.26 1.03 0.23 7.10
and           885 892 7 1.57 0.71 1.07 7.70
RIDD002* 572971 4896089 903 290 -58 637 681 44 0.89 0.42 0.58 4.90
and           715 728 13 1.42 1.05 0.42 5.80
and           907 919 12 2.77 0.65 2.67 16.60
including           910 917 7 3.28 0.56 3.44 19.50
RIDD008* 573043 4895851 918 266 -65 639 650 11 0.97 0.65 0.32 8.40
RIDD009* 572972 4896088 903 301 -64 885 899 14 1.67 0.69 1.28 3.10
and           920 930 10 0.89 0.49 0.51 2.80
and           972.5 985 12.5 1.59 0.90 0.89 3.70
RADD027* 573485 4895816 885 263 -70 1118 1123 5 1.93 1.25 0.86 5.20
RADD036* 573252 4895879 926 290 -65 927 932 5 1.13 0.97 0.18 3.30
RADD043* 572945 4896595 791 235 -61 647 656 9 0.97 0.34 0.66 16.20
RADD044* 573618 4896015 844 270 -60 1102 1108 6 0.84 0.53 0.41 1.00
and           1110 1119 9 0.82 0.44 0.48 2.50
and           1163 1319 156 0.81 0.52 0.36 1.80
RADD046 572948 4896594 791 210 -67 771 777 6 1.27 0.86 0.52 3.01
and           938 951 13 1.07 0.59 0.62 3.18
and           966 991 25 0.86 0.47 0.49 2.97
and           1007 1035 28 0.83 0.54 0.36 2.4
and           1044 1052 8 0.84 0.57 0.33 2.41
RADD047 573142 4895672 943 252 -64 22 28 6 0.92 0.05 1.15 1.80
and           201 207 6 1.41 0.01 1.89 1.10
and           632 647 15 1.28 0.93 0.45 2.50
RADD047A 573014 4895628 637 250 -67 completed / awaiting results


Notes applicable to all tables above:

1) Coordinates are in UTM Zone 34 North WGS84 datum.
   
2) Intervals are reported at a cut-off grade of 0.8% CuEq using 5 metres minimum length and 10 metres maximum internal dilution. Higher grade sub-intervals denoted with ‘including’ are reported at a cut-off grade of 3% CuEq using 5 metres minimum length and 5 metres maximum internal dilution.
   
3) The CuEq calculation is based on the following formula: Cu % + Au g/t x 0.74 + Ag g/t x 0.009 based on a copper price of $2.75/lb, gold price of $1,400/oz and silver price of $17/oz; and assumes metallurgical recoveries of 90% all metals within the equivalency calculation. Metallurgical assumptions are based on initial floatation testwork completed on the stratabound hosted Cu-Au-Ag mineralization at Čoka Rakita North. No metallurgical testwork has been completed on the Frasen or Dumitru Potok prospects.
   
4) No upper cuts have been applied.
   
5) Based on the limited understanding of the geometry of the mineralized body, true widths are considered to be 90% or more of the reported downhole interval, assuming strata-bound control on the mineralization.
   
6) Daughter holes identified with “A” (e.g., DPDD018A) are navigational holes with collar coordinates and depth indicating the exit point from the parent hole.
   
7) Holes noted with (*) were reported previously and have been recalculated and re-reported based on CuEq reporting criteria.
   

Sampling, Analysis and QAQC of Exploration Drill Core Samples

Most exploration diamond drill holes are collared with PQ size, continued with HQ, and are sometimes finished with NQ. Triple tube core barrels and short runs are used whenever possible to improve recovery. All drill core is cut lengthwise into two halves using a diamond saw: one half is sampled for assaying and the other half is retained in core trays. The common length for sample intervals within mineralized zones is one metre. Weights of drill core samples range from three to eight kilograms (“kg”), depending on the size of core, rock type, and recovery. A numbered tag is placed into each sample bag, and the samples are grouped into batches for laboratory submission.

Drill core samples are shipped to the Company’s own exploration laboratory in Bor, Serbia, which is independently managed by SGS. SGS methods and procedures are accredited at SGS hub labs and independent internal lab QAQC check samples are sent to an SGS accredited laboratory. The Bor lab also participate in SGS monthly round robins, and other international Round Robins. Quality control samples, comprising certified reference materials, blanks, and field duplicates, are inserted into each batch of samples and locations for crushed duplicates and pulp replicates are specified. All drill core and quality control samples are tabulated on sample submission forms that specify sample preparation procedures and codes for analytical methods. For internal quality control, the laboratory includes its own quality control samples comprising certified reference materials, blanks and pulp duplicates. All QAQC monitoring data are reviewed, verified and signed off by an independent QAQC geologist. Chain of custody records are maintained from sample shipments to the laboratory until analyses are completed and remaining sample materials are returned to the Company. The chain of custody is transferred from the Company to SGS at the laboratory door.

At the SGS Bor laboratory, the submitted drill core samples are dried at 105°C for a minimum of 12 hours, and then jaw crushed to approximately 80% passing four millimetres. Sample preparation duplicates are created by riffle splitting crushed samples on a 1-in-20 basis. Larger samples are riffle split prior to pulverizing, whereas smaller samples are pulverized entirely. Pulverization specifications are 90% passing 75 microns. Gold analyses are done using a conventional 50-gram fire assay and AAS finish. Multi-element analyses for 49 elements, including Ag, Cu, Mo, As, Bi, Pb, Sb, and Zn, are done using a four-acid digestion and an ICP-MS finish at SGS Bor and SGS Ankara laboratories. Samples returning over 10 ppm for Ag and 1% for Cu, Pb or Zn are analyzed with AAS finish. Sulphur is analyzed using an Eltra Analyzer equipped with an induction furnace.

Technical Information

Ross Overall, Corporate Director Technical Services of the Company, who is a Qualified Person as defined under NI 43-101, and Paul Ivascanu, General Manager, Exploration of the Company, have reviewed, and approved the scientific and technical content of this news release. Mr. Overall has verified the accuracy of the information presented in this disclosure.

About Dundee Precious Metals

Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Serbia and Ecuador. The Company’s purpose is to unlock resources and generate value to thrive and grow together. This overall purpose is supported by a foundation of core values, which guides how the Company conducts its business and informs a set of complementary strategic pillars and objectives related to ESG, innovation, optimizing our existing portfolio, and growth. The Company’s resources are allocated in-line with its strategy to ensure that DPM delivers value for all of its stakeholders. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).

For further information please contact:

David Rae
President and Chief Executive Officer
Tel: (416) 365-5191
Jennifer Cameron
Director, Investor Relations
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Cautionary Note Regarding Forward Looking Statements

This news release contains “forward looking statements” or “forward looking information” (collectively, “Forward Looking Statements”) that involve a number of risks and uncertainties. Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “outlook”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or that state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The Forward Looking Statements in this news release relate to, among other things: future exploration potential at Čoka Rakita; the geology and metallurgy at Čoka Rakita; the price of commodities; and success of exploration activities. Forward Looking Statements are based on certain key assumptions and the opinions and estimates of management and the Qualified Persons, 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. In addition to factors already discussed in this news release, such factors include, among others, uncertainties with respect to actual results of current exploration activities; uncertainties inherent with conducting business in foreign jurisdictions where corruption, civil unrest, political instability and uncertainties with the rule of law may impact the Company’s activities; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals for exploration activities; opposition by social and non-governmental organizations to exploration activities and mining operations; unanticipated title disputes; claims or litigation; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; cyber-attacks and other cybersecurity risks; as well as those risk factors discussed or referred to in any other documents (including without limitation the Company’s most recent Annual Information Form) filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available on SEDAR+ at www.sedarplus.ca . The reader has been cautioned that the foregoing list is not exhaustive of all factors which may have been used. 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. The Company’s Forward Looking Statements reflect current expectations regarding future events and speak only as of the date hereof. 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.

Figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/df4255d3-35f5-417e-8b69-f7d76ec1ad70

https://www.globenewswire.com/NewsRoom/AttachmentNg/36677565-b7a5-4f0e-b1a9-73a11123ba5c

https://www.globenewswire.com/NewsRoom/AttachmentNg/d8e94605-c558-49c2-ad83-8e0b6cea26c1

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