DPM Metals Announces Preliminary Third Quarter Production Results and Timing of Third Quarter Financial Results
p.1 DPM Metals Announces Preliminary Third Quarter Production Results and Timing of Third Quarter Financials
News Release
DPM Metals Announces Preliminary Third Quarter Production Results and Timing of
Third Quarter Financial Results
Toronto, Ontario, October 9, 2025 – DPM Metals Inc . (TSX: DPM , ASX: DPM ) (ARBN: 689370894) (“DPM” or “the
Company”) announced preliminary production results for the three and nine months ended September 30,
2025.
“The integration of Vareš into our operating portfolio is proceeding well. As we advance our priorities to
achieve full production at Vareš by the end of 2026, we continue to be excited about the growth potential
of this high-quality asset,” said David Rae, President and Chief Executive Officer.
“We continue to deliver solid, consistent results from our operations, with gold and copper production
increasing in the third quarter as planned. Both mines are on track to achieve our 2025 guidance .”
Production Highlights
Preliminary results for the three and nine months ended September 30, 2025 , for the Chelopech and Ada
Tepe mines are:
Ore
processed
Metals contained in
concentrate produced
Payable metals in
concentrate sold
(Kt)
Gold
(K oz.)
Copper
(Mlbs.)
Gold
(K oz.)
Copper
(Mlbs.)
Q3 2025
Chelopech 557.5 44.3 7.8 39.6 6.8
Ada Tepe 223.4 19.4 – 18.3 –
Consolidated 780.9 63.7 7.8 57.9 6.8
YTD 2025
Chelopech 1,631.4 128.7 20.1 110.4 17.2
Ada Tepe 560.6 46.0 – 45.2 –
Consolidated 2,192.0 174.7 20.1 155.6 17.2
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 six months ended June 30, 2025, issued on
July 31, 2025, and available at www.sedarplus.ca and at www.dpmmetals.com.
Chelopech produced approximately 44,300 ounces of gold and 7.8 million pounds of copper during the third
quarter, with gold grades increasing during the quarter, in line with the mine plan. Chelopech is on track to
achieve its 2025 production guidance.
Ada Tepe increased gold production in the third quarter as anticipated, producing approximately 19,400
ounces of gold. Ada Tepe is on track to achieve its gold production guidance for the year.
p.2 DPM Metals Announces Preliminary Third Quarter Production Results and Timing of Third Quarter Financials
Vareš Update
On September 3, 2025 , DPM completed the acquisition of Adriatic Metals plc, integratin g the Vare š
operation into its portfolio. Integration activities have progressed well, and DPM continues to advance its
priorities for Vareš with a focus on achieving an 850,000 tonne per year operating rate by year-end 2026.
The integration team immediately started introducing DPM’s health and safety practices and transforming
local personnel training programs and stakeholder engagement activities. These initial steps are integral to
the Company’s priorities of driving the decline to the bottom of the orebody and progressing the construction
of the paste backfill plant in 2026.
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, DPM continues to
expect minimal production at Vareš over the balance of 2025. In February 2026, DPM expects to provide a
three-year outlook for the Vareš operation along with its corporate guidance.
Preliminary results from the third quarter, as well as the period from September 3, 2025 to the end of the
third quarter - the period which will be reflected in DPM’s third quarter financial results – are outlined in the
table below:
Q3 2025 September 3 to
September 30, 2025
Ore processed (Kt) 108.6 35.1
Metals contained in concentrate produced
Gold (K oz.) 9.5 3.8
Silver (K oz.) 717.4 265.8
Copper (Mlbs) 1.6 0.6
Lead (Kt) 5.5 2.2
Zinc (Kt) 8.2 3.1
Timing of Third Quarter 2025 Financial Results
The Company plans to release its third quarter 2025 operating and financial results after market close on
Thursday, November 13, 2025. The news release, MD&A and condensed interim consolidated financial
statements will be posted on SEDAR + at www.sedarplus.ca and on the Company’s website at
www.dpmmetals.com.
p.3 DPM Metals Announces Preliminary Third Quarter Production Results and Timing of Third Quarter Financials
On Friday, November 14, 2025, at 9 AM EST, 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.
Conference call date
and time
Friday, November 14, 2025
9AM EST
Call registration https://register-conf.media-server.com/register/BI3375ddab03dd45f79772f809863771ed
Webcast link https://edge.media-server.com/mmc/p/qxtpx66f
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 s trategy 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 (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,
p.4 DPM Metals Announces Preliminary Third Quarter Production Results and Timing of Third Quarter Financials
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
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 integration of the Vareš operation; anticipated timing for production from the Vareš operation;
statements with respect to outlook and guidance previously provided by the Company; anticipated timing
for release of updated estimates of future production; and the anticipated timing for the release of the
Company’s financial and operational results for the third quarter of 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 the 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,
continuation 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, exploitation 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 financial 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 oper ations;
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 extreme 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 sdf; 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 cybersec urity, 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 successfu lly 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
p.5 DPM Metals Announces Preliminary Third Quarter Production Results and Timing of Third Quarter Financials
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 repatriate funds from foreign subsidiaries;
the Company's ability to retain key perso nnel and attract other highly skilled employees; risks related to
litigation and legal disputes; risks related to shareholder activism; conflicts of interest between the Company
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) fil ed 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.