DPM Metals Achieves Gold Production Guidance for the Eleventh Consecutive Year; Announces Timing of Fourth Quarter and Full-Year 2025 Financial Results
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News Release
DPM Metals Achieves Gold Production Guidance for the Eleventh Consecutive Year;
Announces Timing of Fourth Quarter and Full-Year 2025 Financial Results
Toronto, Ontario, January 12, 2026 – DPM Metals Inc. (TSX: DPM, ASX: DPM) (ARBN: 689370894) (“DPM” or “the
Company”) announced preliminary production results for the three and twelve months ended December
31, 2025.
“We ended 2025 on a very strong note, with Ada Tepe and Chelopech delivering the highest quarterly
production of the year,” said David Rae, President and Chief Executive Officer of DPM Metals. “I’m proud
to report that 2025 marks the eleventh consecutive year we have achieved our gold production guidance,
a remarkable milestone and a testament to our operating strengths.”
“We are very pleased with the progress we are making at Vare š. We are on target to achieve an 850,000
tonne per year operating rate by the end of 2026, and we are continuing to advance training and improve
development rates to accelerate precious metals production.”
Preliminary Production Highlights
Preliminary results for the fourth quarter and full-year ended December 31 , 2025, excluding Vareš, are
provided below:
Ore
processed
Metals contained in
concentrate produced
Payable metals in
concentrate sold
(Kt)
Gold
(K oz.)
Copper
(Mlbs.)
Gold
(K oz.)
Copper
(Mlbs.)
Q4 2025
Chelopech 550 45.7 9.9 40.1 7.6
Ada Tepe 236 24.5 – 23.3 –
Consolidated 786 70.2 9.9 63.4 7.6
Full-year 2025
Chelopech 2,181 174.4 30.0 150.5 24.8
Ada Tepe 797 70.5 – 68.5 –
Consolidated 2,978 244.9 30.0 219.0 24.8
2025 full-year guidance(1)
Chelopech 2,090 – 2,200 160 – 185 28 – 33 141 – 162 25 – 29
Ada Tepe 610 – 700 65 – 80 – 64 – 78 –
Consolidated 2,700 – 2,900 225 – 265 28 – 33 205 – 240 25 – 29
(1) As disclosed in Management’s Discussion and Analysis (“MD&A”) for the three and nine months ended September 30, 2025,
issued on November 13, 2025, and available at www.sedarplus.ca and at www.dpmmetals.com.
p.2 DPM Metals Achieves Gold Production Guidance for Eleventh Consecutive Year
Operational Highlights
Chelopech continued its strong track record during the fourth quarter, producing approximately 45,700
ounces of gold and 9.9 million pounds of copper.
As anticipated, Ada Tepe delivered its strongest production quarter of the year, producing approximately
24,500 ounces of gold.
Production from Vareš in the fourth quarter of 2025 was minimal , as implementing DPM safety practices,
training and decline development have continued to be a priority focus. This is consistent with the Vareš
Technical Report, with an effective date of April 1, 2025 and available on SEDAR+ at www.sedarplus.ca
and the Company’s website at www.dpmmetals.com,
Preliminary results from the fourth quarter and the period from September 3, 2025 to December 31, 2025
for Vareš are outlined in the table below:
Q4 2025 September 3 to
December 31, 2025
Ore processed (Kt) 43.8 78.9
Metals contained in concentrate produced
Gold (K oz.) 1.8 5.9
Silver (K oz.) 242.7 533.4
Copper (K lbs) 477 1,071
Lead (K lbs) 3,677 8,599
Zinc (K lbs) 4,961 11,857
In February 2026, DPM expects to provide a three -year outlook, including detailed 2026 guidance, for the
Vareš operation along with its corporate guidance. As the Vareš mine ramps up to commercial production
by the end of the year, 2026 production is expected to be better than previously anticipated, with higher ore
processed and higher gold and silver grades, as compared to the Vareš Technical Report.
Timing of Fourth Quarter and Full-Year 2025 Financial Results
The Company plans to release its fourth quarter and full-year 2025 operating and financial results , three-
year outlook and detailed 2026 guidance after market close on Tuesday, February 10, 2026. The news
release, MD&A and audited consolidated financial statements will be posted on SEDAR + at
www.sedarplus.ca and on the Company’s website at www.dpmmetals.com.
On Wednesday, February 11, 2026, at 9 AM E ST, DPM will host a conference call and audio webcast to
discuss the results, followed by a question-and-answer session. To participate via conference call, register
in advance at the link in the following table to receive the dial -in information as well as a personalized PIN
code to access the call.
p.3 DPM Metals Achieves Gold Production Guidance for Eleventh Consecutive Year
Conference call date
and time
Wednesday, February 11, 2026
9 AM EST
Call registration https://register-conf.media-server.com/register/BI1844762cc3a643da940b4e6a90c595cc
Webcast link https://edge.media-server.com/mmc/p/4twruqus
Replay Archive will be available on www.dpmmetals.com
Technical Information
The technical and scientific information in this press release has been reviewed and approved by Ross
Overall, Director, Corporate Technical Services, of the DPM, who is a Qualified Person as defined under
National Instrument 43-101, and not independent of the Company.
About DPM Metals Inc.
DPM Metals Inc. is a Canadian -based international gold mining company with operations and projects
located in Bulgaria, Bosnia and Herzegovina, Serbia and Ecuador. Our strategic objective is to become a
mid-tier precious metals company, which is based on sustainable, responsible and efficient gold production
from our portfolio, the development of quality assets, and maintaining a strong financial position to support
growth in mineral reserves and production through disciplined strategic transactions. This strategy creates
a platform for robust growth to deliver above -average returns for our shareholders. DPM trades on the
Toronto Stock Exchange (symbol: DPM) and the Australian Securities Exchange as a Foreign Exempt
Listing (symbol: DPM).
For further information please contact:
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 press release relate to, among other things: expected rates of production at the
p.4 DPM Metals Achieves Gold Production Guidance for Eleventh Consecutive Year
Company’s operating properties; the Company’s future business plans, objectives, and strategy, including,
without limitation, meeting its targeted annual rates of production from its operating mines; anticipated steps
in the development of the Vareš operation; anticipated timing for the ramp up to commercial production at
the Vareš operation; statements with respect to outlook and guidance previously provided by the Company;
estimates and future production and anticipated timing for the public disclosure of such estimates; and the
anticipated timing for the release of the Company’s financial and operational results for the four and twelve
month period ended December 31, 2025 . Forward Looking Statements are based on certain key
assumptions and the opinions and estimates of management, 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, such factors include, among others, fluctuations in metal
prices; risks arising from t he current global economic environment and the impact on operating costs and
other financial metrics, including risks of recession; ability to successfully integrate the Vareš operation and
to realize the anticipated benefits thereof; the commencement, con tinuation or escalation of geopolitical
crises and armed conflicts, and their direct and indirect effects on the operations of the Company; changes
in tax, tariff and royalty regimes in the jurisdictions in which the Company operates or which are otherwise
applicable to the Company’s business, operations, or financial condition; operational risks inherent in the
mining industry; the speculative nature of mineral exploration, development and production, including
changes in mineral production performance, ex ploitation and exploration results; the Company’s
dependence on continually developing, replacing and expanding its Mineral Reserves; the Company’s
dependence on its operations at the Chelopech mine and Ada Tepe mine; risks related to the possibility
that future exploration results will not be consistent with the Company’s expectations, that quantities or
grades of reserves will be diminished, and that resources may not be converted to reserves; competition in
the mining industry; risks related to the finan cial results of operations, changes in interest rates, and the
Company's ability to finance its operations; risks related to the Company's ability to manage environmental
and social matters, including risks and obligations related to closure of the Company 's mining properties;
fluctuations in foreign exchange rates; risks associated with the fact that certain of the Company's initiatives
are still in the early stages and the anticipated benefits thereof may not materialize; ability to successfully
execute on the Company's strategic goals; risks arising from counterparties being unable to or unwilling to
fulfill their contractual obligations to the Company; possible inaccurate estimates relating to future
production, operating costs and other costs for operations; 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; risks related to climate change, including extr eme weather events,
resource shortages, emerging policies and increased regulations related to greenhouse gas emission
levels, energy efficiency and reporting of risks; land reclamation and mine closure requirements, and costs
associated therewith; the Company's controls over financial reporting; risks related to stakeholder
engagement and the maintenance of social license to operate; opposition by social and non-governmental
organizations to mining projects; risks related to information technology and cybersecurity, including cyber-
attacks; exercising judgment when undertaking impairment assessments; risks related to holding assets in
foreign jurisdictions; limitations on insurance coverage; changes in laws and regulations and the Company's
ability to successfully obtain all necessary permits and other approvals required to conduct its operations;
employee relations, including unionized and non-union employees; unanticipated title disputes; volatility in
the price of the common shares of the Company; damage to the Company’s reputation due to the actual or
perceived occurrence of any number of events, including negative publicity with respect to the Company’s
handling of environmental matters or dealings with community groups, whether true or not; ability to
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repatriate funds from foreign subsidiaries; the Company's ability to retain key personnel and attract other
highly skilled employees; risks related to litigation and legal disputes; risks related to shareholder activism;
conflicts of interest between the C ompany and its directors and officers; potential dilution to the common
shares of the Company; the Company's obligations as a public company; the timing and amounts of
dividends; 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.sedarplus.ca . 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.