Dundee Precious Metals Files Technical Report on the Ada Tepe Gold Mine
Dundee Precious Metals Files Technical Report on the Ada Tepe Gold Mine
Toronto, Ontario, February 23, 202 3 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” o r “the
Company”) today announced that the Company has filed a technical report for its Ada Tepe gold mine in
Bulgaria. The purpose of the report was to support the updated Mineral Resource and Mineral Reserve
estimate and improved life of mine plan for Ada Tepe, as previously disclosed in the Company’s news
release dated January 12, 2023.
The technical report has been prepared pursuant to the Canadian Securities Administrator’s National
Instrument 43-101. The technical repo rt and the January 12, 2023 news release are both available for
review on SEDAR (www.sedar.com) and on the Company’s website (www.dundeeprecious.com).
About Dundee Precious Metals
Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and
projects located in Bulgaria, Namibia, Ecuador and Serbia. The Company’s purpose is to unlock resources
and generate value to thrive and grow together. This overall purpose is supported by a foundation of core
values, which guides how the Company conducts its business and informs a set of complementary strategic
pillars and objectives related to ESG, innovation, optimizing our existing portfolio, and growth. The
Company’s resources are allocated in-line with its strategy to ensure that DPM delivers value for all of its
stakeholders. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).
For further information please contact:
David Rae
President and Chief Executive Officer
Tel: (416) 365-5092
Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
Cautionary Note Regarding Forward-Looking Statements
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
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”, “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 similar expressions. The Forward Looking
Statements in this news release relate to, among other things: mine life; the estimation of Mineral Reserves
and Mineral Resources and the realization of such mineral estimates. Forward Looking Statements are
based on certain key assumptions and the opinions and estimates of management a nd the Qualified
Persons, 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,
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such factors include, among others, fluctuations in metal and sulphuric acid prices, to ll rates and foreign
exchange rates; risks arising from the current inflationary environment and the impact on operating costs
and other financial metrics, including risks of recession and the risk that the power subsidy in Bulgaria may
be discontinued; co ntinuation or escalation of the conflict in Ukraine, including the continued exemption
from the Council of Europe’s sanctions in favour of Bulgaria with respect to the import of Russian oil and
economic sanctions against Russia and Russian persons which may impact supply chains; risks relating to
the Company’s business generally and the impact of global pandemics, including COVID -19, resulting in
changes to the Company’s supply chain, product shortages, delivery and shipping issues, closure and/or
failure of plant, equipment or processes to operate as anticipated, employees and contractors becoming
infected, low vaccination rates, lost work hours and labour force shortages; regulatory changes, including
changes impacting the complex concentrate market; possi ble variations in ore grade and recovery rates;
inherent uncertainties in respect of 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 and risks inherent to developing and
commissioning new mines into production, which may be subject to unforeseen delays; 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; limitations on insurance
coverage; accidents, labour disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing or in the completion of development or construction activities; actual
results of current and planned reclamation activities; opposition by social and non -governmental
organizations to mining projects and smelt ing operations; unanticipated title disputes; claims or litigation;
failure to achieve certain cost savings or the potential benefits of any upgrades and/or expansion; increased
costs and physical risks, including extreme weather events and resource shorta ges, related to climate
change; uncertainties inherent to the ability of the Company to meet sustainability, environmental and
greenhouse gas emission reduction targets, goals and strategies, which may be affected by unforeseeable
events outside of its con trol or business necessities that are not yet known; cyber -attacks and other
cybersecurity risks; risks related to the implementation, cost and realization of benefits from digital
initiatives; as well as those risk factors discussed or referred to in any other documents (including without
limitation the Company’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.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 actual actions, events or result s 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 t o be accurate, 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. Unless required by securities laws, 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.