DPM Metals Announces Discovery of New High-Grade Mineralization at the Chelopech Mine; Results Include 68.3 metres at 7.42 g/t AuEq
p.1 DPM Metals Announces Discovery of New High-Grade Mineralization at the Chelopech Mine
News Release
DPM Metals Announces Discovery of New High-Grade Mineralization at the Chelopech Mine;
Results Include 68.3 metres at 7.42 g/t AuEq
Toronto, Ontario, November 19, 2025 – DPM Metals Inc. (TSX: DPM, ASX: DPM) (ARBN: 689370894) (“DPM” or “the
Company”) is pleased to announce results from ongoing exploration drilling at the Wedge Zone Deep
(“WZD”) target, which is located within the northern flank of the Chelopech mine concession and
approximately 300 metres below existing Mineral Reserves and current mine infrastructure.
Highlights include:
• EX_WZD_210_01: 68.3 metres grading 7.42 g/t AuEq, comprised of 6.92 g/t Au, 0.30% Cu and 10.50
g/t Ag from 590.7 metres downhole, including 28 metres grading 13.41 g/t AuEq, comprised of 12.78
g/t Au, 0.39% Cu, and 17.75 g/t Ag.
• EX_WZD_210_01А: 48.1 metres grading 9.41 g/t AuEq, comprised of 8.99 g/t Au, 0.26% Cu and 12.23
g/t Ag from 594.9 metres downhole, including 36 metres grading 11.63 g/t AuEq, comprised of 11.12
g/t Au, 0.31% Cu, and 14.61 g/t Ag.
• EX_WZD_210_01B: 14 metres grading 13.41 g/t AuEq, comprised of 12.58 g/t Au, 0.51% Cu and
16.57 g/t Ag from 601 metres downhole.
• EX_WZD_165_01: 40 metres grading 12.40 g/t AuEq, comprised of 11.54 g/t Au, 0.53% Cu and 17.70
g/t Ag from 456 metres downhole, including 31 metres grading 14.84 g/t AuEq, comprised of 13.81 g/t
Au, 0.63% Cu, and 19.83 g/t Ag.
See Table 1 and associated footnotes for full results from drilling to date and details on the gold equivalent
calculation.
“We are excited by the discovery high-grade mineralization at the Wedge Zone Deep target at Chelopech,
which underscores the significant exploration potential at our core operation. These impressive results
highlight long-term potential to add high-grade Mineral Resources within the Chelopech mine concession ,
extend mine life and enhance long -term value for all stakeholders, ” said David Rae, President and Chief
Executive Officer of DPM Metals.
Exploration at the Wedge Zone Deep Target
The WZD target is located within the northern flank of Chelopech mine concession (Figure 1) and is situated
approximately 300 metres below existing Mineral Reserves and current underground infrastructure. The
target volume is a broad corridor of prospective ground that lies below -100m elevation and is located on
the hanging wall of the Petrovden Fault, which traverses across the mine concession in an approximate
east-west orientation.
Deep underground exploration drilling at WZD target started in the first quarter of 2025, designed to follow
up on opportunities generated by targeting initiatives with the goal of testing the exploration potential at
depth within the Chelopech mine concession.
p.2 DPM Metals Announces Discovery of New High-Grade Mineralization at the Chelopech Mine
Table 1: Drill intercepts from target delineation drilling at the WZD target.
HOLEID EAST NORTH RL AZ DIP
FROM TO LENGTH AuEq Au Ag Cu
(m) (m) (m) (g/t) (g/t) (g/t) (%)
EX_WZD_210_01 5352 29747 212 46 -55 590.7 659 68.3 7.42 6.92 10.50 0.30
including 594 622 28 13.41 12.78 17.75 0.39
and 686 734 48 2.48 2.32 3.50 0.10
EX_WZD_210_01A 5352 29747 212 46 -55 594.9 643 48.1 9.41 8.99 12.23 0.26
including 597 633 36 11.63 11.12 14.61 0.31
and 649 663 14 4.18 3.95 7.00 0.14
and 667 681 14 2.70 2.53 4.97 0.11
and 685 727 42 2.35 2.21 4.12 0.09
and 740 752 12 2.80 2.59 5.05 0.13
EX_WZD_210_01B 5352 29747 212 46 -55 601 615 14 13.41 12.58 16.57 0.51
EX_WZD_210_02 5352 29747 212 32 -55 in progress
EX_WZD_165_01 5628 29823 164 19 -68 456 496 40 12.40 11.54 17.70 0.53
including 459 490 31 14.84 13.81 19.83 0.63
EX_WZD_165_02 5628 29823 164 37 -67 in progress
EX_WZD_270_01 6012 29662 268 339 -53 no significant intervals
EX_WZD_270_02 6014 29662 268 22 -44 no significant intervals
1) AuEq calculation is based on the following formula: Au g/t + 1.63 x Cu %, based on a gold price of $1,700 per ounce and a copper
price of $3.75 per pound and long-term average metallurgical recoveries of 82% for gold and 84% for copper based on operating
performance from the Chelopech mine.
2) Significant intercepts are reported using a minimum downhole width of 5 metres, a maximum dilution of 3 metres at a 2 g/t AuE q
cut-off, whilst including intervals are reported using a minimum downhole width of 5 metres, a maximum dilution of 3 metres at a 7
g/t AuEq cut-off. No upper cuts applied.
3) Coordinates are in Chelopech mine-grid.
4) Daughter holes identified with “A” and “B” (e.g., EX_WZD_210_01A) are navigational holes.
5) True widths have not been estimated at this time as there is insufficient drilling to determine the geometry of mineralization.
The discovery of the high-grade mineralization encountered in drillhole EX_WZD_210_01 was made by
following up on initial scout holes conducted in the vicinity of the WZD target. To date, ,3,120 metres from
four drillholes have been completed on the newly discovered target, with a further two holes ongoing.
The newly discovered zone is presented as a broad interval of high -sulphidation type mineralization
documented over a length of approximately 150 metres downhole. It is located within an envelope of
advanced argillic alteration and hosted within diorite and phreato -magmatic breccias controlled by
northwest-southeast and east-west structures that are in close -proximity of the bounding Petrovden fault
zone.
The mineralization manifests as wide and continuous zones of massive sulphides that gradually transition
to hydrothermal breccia, and then to sulphide stockworks with disseminated and mottled pyrite and copper
sulphosalts (see photos in Figure 2 for details). The mineralization style is analogous to other mineralized
zones found on the periphery of the mine and is expected to have similar metallurgical characteristics.
p.3 DPM Metals Announces Discovery of New High-Grade Mineralization at the Chelopech Mine
The intercepted mineralization has been outlined in four drillholes to date over a strike length of
approximately 110 metres (Figure 3). The minerali zation remains open in multiple directions, both along
strike as well as down and up-dip, offering strong potential for expansion.
Historically, such deeper levels on the northern flank of the Chelopech mine were considered low
exploration priority and were subject to very limited attention. As a result, very sparse drilling exists in this
area of the Chelopech mine (Figure 4). This significant discovery, which was made in a relatively
underexplored and deep area of the mine concession, demonstrates that the WZD target is highly
prospective for additional discoveries and supports DPM’s target of extending Chelopech’s mine life to over
10 years.
Next Steps
Given the significance of the discovery, the Company is allocating approximately $2 million to $3 million for
10,000 metres of infill and additional delineation drilling for the WZD target, which are expected to be drilled
by the end of the first quarter 2026. The planned drilling will focus on assessing the geometry, grade
continuity and mineral resource potential of the WZD target.
Further to this, DPM is also evaluating options for the development of underground infrastructure to support
exploration drilling plans in this region of the mine.
p.4 DPM Metals Announces Discovery of New High-Grade Mineralization at the Chelopech Mine
Figure 1. Plan view of the Chelopech Mine Concession with the WZD target highlighted, as well as the
surrounding commercial discovery boundary of Chelopech Sever and the Brevene exploration licence.
p.5 DPM Metals Announces Discovery of New High-Grade Mineralization at the Chelopech Mine
Figure 2. Images showing (a) the core photos of massive sulphide from hole EX_WZD_210_01 between
590.7m to 607m downhole depth, (b) close-up views of massive to stockwork styles of mineralization from
within the interval.
p.6 DPM Metals Announces Discovery of New High-Grade Mineralization at the Chelopech Mine
Figure 3. Inclined cross section (5625 E, 150 metres thick) through mineralization encountered in the WZD
target looking east, displaying drill intercepts, geology, mine infrastructure and the mineral resource
domains.
p.7 DPM Metals Announces Discovery of New High-Grade Mineralization at the Chelopech Mine
Figure 4. Inclined cross section (29998 N, 150 metres thick) through mineralization encountered in the WZD
target looking south, displaying drill intercepts, geology, mineral resource domains and drilling in progress.
Note the sparse drilling density in this part of the mine beyond the -100mrl elevation.
p.8 DPM Metals Announces Discovery of New High-Grade Mineralization at the Chelopech Mine
Sampling, Analysis and QAQC of Exploration Drill Core Samples
Most underground exploration diamond drill holes are collared with HQ size, continued and finished with
NQ. Triple tube core barrels and short runs are used whenever possible to improve recovery. All drill core
is cut lengthwise into two halves using a diamond saw; one half is sampled for assaying, and the other half
is retained in core trays. The common length for sample intervals within mineralized zones is one metre.
Weights of drill core samples range from three to eight kilograms, depending on the size of core, rock type,
and recovery. A numbered tag is placed into each sample bag, and the samples are grouped into batches
for laboratory submissions.
Drill core samples are shipped to the Company’s own exploration laboratory in Bor, Serbia, which is
managed by SGS Minerals (“SGS”). Quality control samples, comprising certified reference materials,
blanks, and field duplicates, are inserted into each bat ch of samples and locations for crushed duplicates
and pulp replicates are specified. All drill core and quality control samples are tabulated on sample
submission forms that specify sample preparation procedures and codes for analytical methods. For
internal quality control, the laboratory includes its own quality control samples comprising certified reference
materials, blanks and pulp duplicates. All quality assurance and quality control (“QAQC”) monitoring data
are reviewed and signed off by an independent QAQC geologist. Chain of custody records are maintained
from sample shipments to the laboratory until analyses are completed and remaining sample materials are
returned to the Company. The chain of custody is transferred from the Company to SGS at the laboratory
door.
At the SGS Bor laboratory, the submitted drill core samples are dried at 105°C for a minimum of 12 hours,
and then jaw crushed to about 80% passing 4 millimetres. Sample preparation duplicates are created by
riffle splitting crushed samples on a 1 in 20 basis. Larger samples are riffle split prior to pulverizing, whereas
smaller samples are pulverized entirely. Pulverizing specifications are 90% passing 75 microns. Gold
analyses are done using a conventional 50 -gram fire assay and atomic absorption spectrom etry (“AAS”)
finish. Multi-element analyses for 49 elements, including Ag, Cu, Mo, As, Bi, Pb, Sb, and Zn, are done using
a four-acid digestion and an ICP-MS finish. Samples returning over 10 ppm for Ag and 1% for Cu, Pb and
Zn are re -analyzed using high g rade methods with AAS. Sulphur is analyzed using an Eltra Analyzer
equipped with an induction furnace.
Technical Information
Ross Overall, Director, Corporate Technical Services of the Company, who is a Qualified Person as defined
under NI 43-101, and Stefan Metodiev, Director, Exploration Department have reviewed and approved the
scientific and technical content of this news release. Mr. Overall has verified the accuracy of the information
presented in this disclosure. This included verification to ensure all results reported in the disclosure have
passed QAQC protocols, drill core inspection and review of assay data with geolog y, alteration and
mineralization logging data. No limitations were imposed on Mr. Overall’s verification process.