Dundee Precious Metals Announces Receipt of Environmental L icence for the Loma Larga Pro ject and Provide s Update on the Feasibilit y Study Results T iming
Dundee Precious Metals Announces Receipt of Environmental L icence
for the Loma Larga Pro ject and Provide s Update on the Feasibilit y
Study Results T iming
Toronto, Ontario, July 7 2025 – Dundee Precious Metals (“DPM” or the “Company”) is pleased to
announce that the Government of Ecuador has granted the environmental licence for exploitation for the
Loma Larga project.
The Loma Larga project environmental licence for exploitation was issued by the Ministry of Environment,
Water and Ecological Transition (“MAATE”) on June 23, 2025 , and is the result of a rigorous process by
the government to ensure high Ecuadorian standards are applied in the development of mining projects.
DPM’s commitment to these standards is consistent with the Company’s proven development practices
and adoption of international standards and best practices which meet or exceed national standards.
Following the environmental licence issuance, DPM is preparing for formal negotiations for the exploitation
agreement.
“This is an important milestone for Loma Larga , which is an attractive future growth opportunity for DPM
with significant potential to deliver strong returns for our investors and stakeholders ,” said David Rae,
President and Chief Executive Officer of Dundee Precious Metals.
“We are designing and advancing Loma Larga in line with the highest standards for environmental and
water management. The responsible development of Loma Larga offers significant economic and social
opportunities for the local communities and country of Ecuador. We are committed to fostering strong,
constructive relationships with local communities and the government, and we are investing in the
development of the local workforce.”
Commitment to Responsible Mining
Loma Larga’s project design and execution plan has been optimized to minimize its footprint and reflect
high standards of environmental stewardship and responsible water management.
Permitting: The approval of the environmental licenc e follows the successful completion of the prior,
informed indigenous consultation process in May 2025, and the fulfilment of the requirements of the August
2023 ruling by the Provincial Court of Azuay.
Stakeholder engagement and social development: Consistent with DPM’s approach across all
operations, DPM is committed to fostering strong, constructive relationships with local communities and
government authorities. Since acquiring the Loma Larga project in 2021, DPM has focused on engagement
and collaboration in the region, working proactively with all stakeholders.
The Company’s intention is to develop the Loma Larga project in accordance with Ecuadorian and
international standards, with a focus on maximizing benefits for local communities and stakeholders ,
Dundee Precious Metals Announces Receipt of Environmental Licence for the Loma Larga Project and Provides Update on the Feasibility Study Results Timing| 2
including the use of local suppliers and implementing training programs, while delivering the best value for
shareholders.
Responsible water management: Responsible management of water and safeguarding the sensitive
environmental ecosystem near the Loma Larga project are key priorities in DPM’s design for the Loma
Larga project. DPM’s approach to water management minimizes the use of freshwater and maximizes the
recycling of processed water.
The Loma Larga project includes the development of wastewater treatment and storage facilities, as well
as fully lined tailings and contact water storage ponds. Contact water will be collected and recycled within
the mine’s processing facility and treated at the water treatment plant, in line with International Finance
Corporation and Ecuadorian standards and industry best practices . Non-contact water is designed to be
diverted from the Loma Larga project area with lined diversion channels.
DPM will continue to engage with stakeholders regarding the rigorous standards and practices for
responsible water management and environmental stewardship it will implement to ensure alignment with
the Company’s plans and the concerns of the local communities.
Feasibility study update
During the second quarter of 2025, DPM completed an updated feasibility study for the Loma Larga project.
This included an update to the project economics to reflect the current gold price environment and revised
capital and operating cost estimates. It is the Company’s intention to disclose the results in due course to
focus on the announced acquisition of Adriatic Metals plc June 13, 2025.
Abo u t D un de e Pr e ci ou s M et al s I nc .
Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and
projects located in Bulgaria, Serbia and Ecuador. Our strategic objective is to become a mid -tier precious
metals company, which is based on sustainable, responsible and efficient gold production from our portfolio,
the development of quality assets, and maintaining a strong financial position to support growth in mineral
reserves and production through disciplined strategic transactions. This strategy creates a platform for
robust growth to deliver above -average returns for our shareholders . DPM’s shares are traded on the
Toronto Stock Exchange (symbol: DPM).
For further information please contact:
Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
Cau ti on ar y N ot e R eg ar d in g For w ar d L o oki ng Sta tem en ts
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
Dundee Precious Metals Announces Receipt of Environmental Licence for the Loma Larga Project and Provides Update on the Feasibility Study Results Timing| 3
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”, “targets”, “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 simila r expressions. The
Forward Looking Statements in this news release relate to, among other things , the commencement of
negotiations regarding an exploitation agreement in respect of the Loma Larga project, including the
anticipated timing and results of such negotiations; anticipated steps in the development of the Loma Larga
project and the anticipated benefits of the project to the Company and applicable stakeholders; adherence
to applicable standards in the development of the Loma Larga project; the inten tion of the Company to
complete the feasibility study in respect of the Loma Larga project and the anticipated timing thereof .
Forward Looking Statements are based on certain key assumptions and the opinions and estimates of
management and the QPs, 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, risks relating to the Company’s business, including
possible variations in mineraliz ed grade and recovery rates; uncertainties inherent to the conclusions of
economic evaluations and economic studies; changes in project parameters, including schedule and
budget, as plans continue to be refined; uncertainties with respect to actual results of current exploration
activities; uncertainties inherent to the estimation of Mineral Resources and Reserves, which may not be
fully realized; 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; the
impact of the conflict in Ukraine and the Middle East, including resulting changes to the Company’s supply
chain and costs of supplies; product shortages; deliv ery and shipping issues; closures and/or failure of
plant, equipment or processes to operate as anticipated; labour force shortages; fluctuations in metal and
acid prices and foreign exchange rates; limitation on insurance coverage; accidents, labour dispu tes and
other risks of the mining industry; delays in obtaining governmental approvals or in the completion of
development or construction activities; opposition by social and non -government organizations to mining
projects; unanticipated title disputes; c laims or litigation; cyber attacks and other cybersecurity risks;
changes to tax regimes in the jurisdictions in which the Company operates; as well as those risk factors
discussed or referred to in any other documents (including without limitation the Com pany’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 re sults 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 law s, 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.