Dundee Precious Metals Files Ni 43-101 Technical Report Supporting the Preliminary Economic Assessment of the Timok GOLD Project IN Serbia
1
DUNDEE PRECIOUS METALS FILES NI 43-101 TECHNICAL REPORT SUPPORTING THE
PRELIMINARY ECONOMIC ASSESSMENT OF THE TIMOK GOLD PROJECT IN SERBIA
Toronto, August 29, 2019 – Dundee Precious Metals Inc. (TSX: DP M) (“DPM” or “the
Company”) announced today that the Company has filed a National Instrument 43-101 ("NI 43-
101") Technical Report supporting the updated Preliminary Economic Assessment (“PEA”) on its
Timok Gold Project (“Timok”) in Serbia as previously announced in its news release dated July
15, 2019. The Technical Report and the July 15, 2019 news release are both available for review
on SEDAR (www.sedar.com) and on the Company's website (www.dundeeprecious.com).
As the scenario envisioned in the PEA targeted primarily oxide and transitional material types,
DPM has now initiated an optimization study that targets mining and processing of additional
sulphide material within the existing resource. DPM expects the optimization study will be
completed in the fourth quarter of 2019 at which point a decision will be made whether to advance
the project to a Preliminary Feasibility Study (“PFS”). Since the July 15 news release, applications
to extend the Potaj Čuka Tisnica, Bigar Istok and Umka exploration licences, which comprise the
Timok Gold Project, have been approved by the Serbian government.
About Dundee Precious Metals
Dundee Precious Metals Inc. is a Canadian based, international gold mining company engaged
in the acquisition of mineral properties, exploration, developm ent, mining and processing of
precious metals. The Company's operating assets include the Che lopech 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 Bul garia; 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 Canada and Serbia, and its
10.3% interest in Sabina Gold & Silver Corp.
Cautionary Note Regarding Forward Looking Statements
Certain statements and other information included in this press release and our other disclosure
documents constitute “forward looking statements” or “forward l ooking information” within the
meaning of applicable securities legislation, which we refer to collectively hereinafter as “Forward
Looking Statements”. Forward Looking Statements are statements that are not historical facts
and are generally, but not always, identified by the use of for ward looking terminology such as
“plans”, “expects”, “is expected”, “budget”, “scheduled”, “esti mates”, “forecasts”, “outlook”,
“intends”, “anticipates”, “believes”, or variations of such wor ds and phrases or that state that
certain actions, events or results “may”, “could”, “would”, “mi ght” or “will” be taken, occur or be
achieved, or the negative of any of these terms or similar expr essions. The Forward Looking
Statements in this press release relate to, among other things: results of economic studies; the
timing and success of optimization work and the commencement of a PFS for Timok. Forward
Looking Statements are based on certain key assumptions and the opinions and estimates of
management and Qualified Persons (in the case of technical and scientific information), as of the
date such statements are made, and they involve known and unkno wn risks, uncertainties and
2
other factors which may cause the actual results, performance or achievements of the Company
to be materially different from any other future results, perfo rmance or achievements expressed
or implied by the Forward Looking Statements. In addition to fa ctors already discussed in this
document, such factors include, among others: the uncertainties with respect to the actual results
of current exploration activities and optimization work; actual results of current reclamation
activities; conclusions of economic evaluations and economic st udies; changes in project
parameters as plans continue to be refined; possible variations in ore grade or recovery rates;
failure of plant, equipment or processes to operate as anticipated; uncertainties and risks inherent
to developing and commissioning new mines into production, which may be subject to unforeseen
delays; accidents, labour disputes and other risks of the minin g industry; delays in obtaining
governmental approvals or financing or in the completion of dev elopment or construction
activities, social and non-governmental organizations oppositio n to mining projects and smelting
operations; uncertainties inherent with conducting business in foreign jurisdictions where
corruption, civil unrest, political instability and uncertainti es with the rule of law may impact the
Company’s activities; fluctuations in metal and acid prices, toll rates and foreign exchange rates;
unanticipated title disputes; claims or litigation; limitation on insurance coverage; cyber attacks;
risks related to the implementation, cost and realization of be nefits from digital initiatives; failure
to realize projected financial results from MineRP Holdings Inc .; risks related to operating a
technology business reliant on the ownership, protection and on going development of key
intellectual properties; as well as those risk factors discusse d or referred to in any other
documents (including without limitation the Company’s most rece nt Annual Information Form)
filed from time to time with the securities regulatory authorit ies in all provinces and territories of
Canada and available on SEDAR at www.sedar.com. 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 ac tual 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, es timated or intended. There can be
no assurance that Forward Looking Statements will prove to be a ccurate, as actual results 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. Other than as it may be required by law, the Company undertakes no
obligation to update Forward Looking Statements if circumstance s or management’s estimates
or opinions should change. Accordingly, readers are cautioned n ot to place undue reliance on
Forward Looking Statements.
3
For further information, please contact:
DUNDEE PRECIOUS METALS INC.
Rick Howes
President and
Chief Executive Officer
Tel: (416) 365-2836
Michael Dorfman
Executive Vice President, Corporate Development
Tel: (416) 365-5090
Janet Reid
Manager, Investor Relations
Tel: (416) 365-2549