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DPM.TO ·

Dundee Precious Metals Declares Dividend

Corporate Actions

Dundee Precious Metals Declares Dividend

Toronto, Ontario, May 6, 2020 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” of “the Company”)

today announced that i ts Board of Directors has declared a second quarter dividend of US$0.02 per

common share.

The dividend is payable on July 15, 2020 to shareholders of record as at 5:00 p.m. Toronto local time on

June 30, 2020 and qualifies as an “eligible dividend” for Canadian income tax purposes.

Shareholders may elect to receive their dividend in U.S. or Canadian dollars by contacting their broker or,

where applicable, Computershare Investor Services Inc., the Company’s registrar and transfer agent. If no

election is made, residents of Canada will be paid in Canadian dollars and non-residents of Canada will be

paid in U.S. dollars. Dividends to be paid in Canadian dollars will be converted to Canadian dollars using

the spot exchange rate on July 8, 2020.

Dividends paid to shareholders that are non -residents of Canada are generally subject to withholding tax

unless reduced in accordance with the provisions of an applicable tax treaty.

About Dundee Precious Metals

Dundee Precious Metals Inc. is a Canadian based, internati onal gold mining company engaged in the

acquisition of mineral properties, exploration, development, mining and processing of precious metals. The

Company's operating assets include the Chelopech operation, which produces a gold -copper concentrate

containing gold, copper and silver and a pyrite concentrate containing gold, located east of Sofia, Bulgaria;

the Ada Tepe operation, which produces a gold concentrate containing gold and silver, located in southern

Bulgaria; and the Tsumeb smelter, a complex copp er concentrate processing facility located in Namibia.

DPM also holds interests in a number of developing gold and exploration properties located in Canada and

Serbia, and its 10.4% interest in Sabina Gold & Silver Corp and 19.5% interest in INV Metals Inc.

For further information please contact:

Rick Howes

President and Chief Executive Officer

Tel: (416) 365-2836

[email protected]

David Rae

Executive Vice President and Chief Operating Officer & Incoming President and Chief Executive Office

Tel: (416) 365-5092

[email protected]

Hume Kyle

Executive Vice President and Chief Financial Officer

Tel: (416) 365-5091

[email protected]

2

Jennifer Cameron

Director, Investor Relations

Tel: (416) 219-6177

[email protected]