Dundee Precious Metals Completes Acquisition of Namibian Smelter Assets Immediate Release

Toronto, March 25, 2010 – Dundee Precious Metals Inc. (TSX: DPM; DPM.WT; DPM.WT.A) (“DPM” or “the Company”) is pleased to announce the completion of its previously announced transaction with Weatherly International plc (“WTI”) for the purchase of WTI’s Tsumeb smelter assets and related business including all land, plant and other assets used by or in connection with or which benefit or pertain to WTI’s smelter business.

For further information, please refer to the press releases issued by DPM on January 14 and February 25, 2010.

FORWARD-LOOKING STATEMENTS

This news release may contain certain information that constitutes forward-looking statements. Forwardlooking 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 forwardlooking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

For further information please contact:

DUNDEE PRECIOUS METALS INC.

Jonathan Goodman Lori Beak President & Chief Executive Officer Vice President, Investor Relations Tel: (416) 365-2408 & Corporate Secretary Email: [email protected] Tel: (416) 365-5165 Email: [email protected]