Dundee Precious Metals Provides Update on Constitutional Protective Action in Ecuador
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Dundee Precious Metals Provides Update on Constitutional Protective Action in Ecuador
Toronto, July 13, 2022 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”)
announced that an oral decision on the Constitutional Protective Action (the “Action”) filed against the
Ministry of Environment, Water and Ecological Transition (“MAATE”) was delivered by the Judicial Labour
Unit of Cuenca. The decision upheld the validity of the Company’s environmental permits for exploration at
Loma Larga, confirmed that the MAATE did not violate certain rights relating to the protection of water and
nature in granting the permits, and reaffirmed DPM’s mining concessions for Loma Larga.
“This is a positive step forward for the Loma Larga project. As a significant foreign investor in Ecuador, we
expect to create substantial economic and social opportunities through the responsible development of the
project,” said David Rae, President and Chief Executive Officer of Dundee Precious Metals. “We are fully
committed to working collaboratively and transparently with stakeholders in-line with the highest applicable
standards for environmental protection and stakeholder engagement.”
The court also found that the Company will be required to include the local indigenous populations in its
consultation process prior to proceeding to the exploitation phase, which DPM had already planned as part
of its development of the project, reflecting Company’s commitment to the highest standards of stakeholder
engagement and in-line with International Finance Corporation practices.
The written decision is expected to be delivered within a week’s time, following which the claimants have
three days to file an appeal of the decision. During this time, DPM’s drilling activities will remain paused,
pending the Company’s assessment of the written decision and the impact of any appeals that are filed.
The Company continues to work closely with the M AATE as well other local stakeholders to advance
permitting for the project , which recently included the receipt of the technical viability certificate for the
filtered tailings storage facility at the end of June.
About Dundee Precious Metals Inc.
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 found ation 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.
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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
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”, “guidance”, “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 the timing of the legal proceedings related
to the Action, as well as the resumption of the drilling activities at Loma Larga. Forward Looking Statements
are based on certain key assumptions and the opinions and estimates of management and its advisers, 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. Such factors include, among others, uncertainties inheren t to legal challenges and
court proceedings; the lack of certainty with respect to foreign legal systems, which may not be immune
from the influence of political pressure, NGO activism, corruption or other factors that are inconsistent with
the rule of law ; risks inherent to conducting business in a foreign jurisdiction, where political instability is
greater than in Canada and those risk factors discussed or referred to in any other documents (including
without limitation the Company’s most recent Annual Information Form) filed by the Company 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 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.