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Dundee Precious Metals Announces Appointment of Juanita Montalvo to Its Board of Directors

Management Changes

DUNDEE PRECIOUS METALS ANNOUNCES APPOINTMENT OF

JUANITA MONTALVO TO ITS BOARD OF DIRECTORS

Toronto, Ontario, February 15, 2017 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or

“the Company”) is pleased to announce the appointment of Ms. Juanita Montalvo to the board of

directors of DPM.

“We are delighted to welcome Juanita to the board and to the health, safety and environment

committee of DPM,” said Jonathan Goodman, Executive Chairman. “With decades of international

experience in operations support, sustainability and risk management oversight, her diversity of

skills and perspective will be a valuable addition to the Company.”

Ms. Montalvo bring s to the DPM board 25 years of experience in developing and leading

strategies to drive performance through excellence in corporate governance, partnership and joint

venture management and good business practice. She is currently a Managing Partner with

Acasta Cuba Capital, a leading advisory and investment firm dedicated to business opportunities

in Cuba. Previously, she was a Senior Vice President at Sherritt International Corporation, a world

leader in mining and refining of nickel from lateritic ores and Cuba’s largest foreign investor -

building and operating in mining, oil & gas, and power production. Ms. Montalvo served as Country

Manager in Madagascar during the construction of the Ambatovy Joint Venture.

From 2006 until 2014, Ms. Montalvo held a number of board positions with subsidiaries of Sherritt

International Corporation and on Executive Committees to the board. She is also a director and

Deputy Chairman of the board of Canada’s National Ballet School.

Ms. Montalvo holds a B.Sc. Biology and Biochemistry, a B.A. in International Development

Studies and a Masters in Development Economics, all from Dalhousie University in Halifax, Nova

Scotia. Ms. Montalvo also completed financial courses for executives at the Richard Ivey School

of Management and the Canadian Securities course.

About Dundee Precious Metals

Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged

in the acquisition of mineral properties, exploration, development, mining and processing of

precious metals. The Company's continuing operating assets include the Chelopech operation,

which produces a copper concentrate containing gold and silver and a pyrite concentrate

containing gold, located east of Sofia, Bulgaria; and the Tsumeb smelter, a complex copper

concentrate processing facility located in Namibia. DPM also holds interests in a number of

developing gold and exploration properties located in Bulgaria, Serbia, and northern Canada,

including the Krumovgrad gold project currently under construction, which is expected to

commence production in the fourth quarter of 2018, and its 10.7% interest in Sabina Gold & Silver

Corp.

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For further information please contact:

DUNDEE PRECIOUS METALS INC.

Rick Howes

President and

Chief Executive Officer

Tel: (416) 365-2836

[email protected]

Lori Beak

Senior Vice President,

Governance, and Corporate

Secretary

Tel: (416) 365-5165

[email protected]