Dundee Precious Metals Announces the Filing of a Technical Report for the Chelopech Mine, Bulgaria

Toronto, Ontario, February 4, 2016 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) advised that, following the announcement of a 15% increase to the Measured and Indicated Mineral Resource categories for its Chelopech mine on December 21, 2015, it has today filed a technical report entitled “NI 43-101 Technical Report – Mineral Resource Update, Chelopech Project, Chelopech, Bulgaria” dated February 4, 2016, prepared by CSA Global (UK) Ltd (the "Technical Report") in support thereof.

The Technical Report can be found on the Company’s website at www.dundeeprecious.com, as well as on SEDAR at www.sedar.com.

About Dundee Precious Metals

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 copper concentrate containing gold and silver, located east of Sofia, Bulgaria; the Kapan operation, which produces a copper concentrate and a zinc concentrate, both containing gold and silver, 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 the Krumovgrad project and interests held through its 50.1% owned subsidiary, Avala Resources Ltd., and its 12.0% interest in Sabina Gold & Silver Corp.

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]