DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep Prospect; Expects Mineral Resource Estimate by Year-End 2026
p.1 DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep Prospect; Expects Mineral Resource Estimate by Year-End 2026
News Release
DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep
Prospect; Expects Mineral Resource Estimate by Year-End 2026
Toronto, Ontario, May 20, 2026 – DPM Metals Inc . (TSX: DPM , ASX: DPM ) (ARBN: 689370894) (“DPM” or “the
Company”) is pleased to report results from delineation drilling at the Wedge Zone Deep (“WZD”) prospect,
located within the Chelopech mine concession and 250 metres below existing mine infrastructure.
Highlights
• New significant intercepts from recent drilling, including:
▪ EX_WZD_165_03: 58 metres grading 15.28 g/t AuEq, comprised of 14.58 g/t Au, 0. 67% Cu and
26.93 g/t Ag from 449 metres downhole.
▪ EX_WZD_165_05: 47.3 metres grading 5.45 g/t AuEq, comprised of 5.23 g/t Au, 0.22% Cu and
7.38 g/t Ag from 455.7 metres downhole.
▪ EX_WZD_165_05A: 81 metres grading 8.05 g/t AuEq, comprised of 7.83 g/t Au, 0.21% Cu and
5.97 g/t Ag from 551 metres downhole.
See Table 1 and associated footnotes for full results from drilling and for details on the gold equivalent
calculation.
• Results confirm and extend high-grade mineralization: The mineralized zone has now been defined
over approximately 170 metres along strike, 130 metres in width, and 300 metres in vertical extent, with
drilled gold grades well in excess of the existing Chelopech mine gold Reserve grade of 2.18 g/t.1
• Open in multiple directions: The WZD target remains open along strike and down-dip.
• Initial mineral resource estimate targeted by year-end 2026: The Company is planning further drilling
over the balance of 2026, with an initial mineral resource expected by year-end as part of the Chelopech
annual Mineral Resource and Mineral Reserve update.
“Chelopech, in addition to being DPM’s flagship operation with a decade -long track record of delivery, is
transforming into an exciting exploration story , as demonstrated by these new results ,” said David Rae,
President and Chief Executive Officer.
“These drill results expand the size of the Wedge Zone Deep prospect and demonstrate the continuity of
the high-grade mineralization. Located approximately 250 metres below existing mine infrastructure, with
drilled gold grades more than double the Chelopech mine’s average gold Reserve grade, this target has
significant potential to drive future value.”
1 Refer to the technical report entitled “Mineral Resource and Mineral Reserve Update – Chelopech Mine, Bulgaria,” dated March 5,
2026, available on SEDAR+ at www.sedarplus.ca and the Company’s website at www.dpmmetals.com.
p.2 DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep Prospect; Expects Mineral Resource Estimate by Year-End 2026
Wedge Zone Deep Drilling Program Results
Delineation drilling at the WZD prospect continued through late 2025 and the first quarter of 2026, following
up on high-grade intercepts previously reported on November 19, 2025. The aim of this drill program was
to extend the limits of the WZD prospect, which was open in several directions, and to improve DPM’s
understanding of the geometry and extent of mineralization in support of an initial mineral resource estimate
and an evaluation of WZD’s potential to augment the existing life of mine plan at Chelopech.
The WZD prospect is located on the northern flank of the Chelopech mine concession and, based on the
latest drilling, is situated approximately 250 metres below existing Mineral Reserves and current
underground infrastructure (Figure 1). The target area comprises a broad corridor of prospective ground
that lies below -100 metres elevation and is located on the hanging wall of the Petrovden Fault, which
traverses the mine concession in an approximate east-west orientation.
To date, approximately 11,800 metres have been completed in 17 drillholes within the WZD area, with two
additional holes currently underway. The results continue to support the geological interpretation of the
zone as a continuous body of high -sulphidation-type gold -copper-silver mineralization associated with
advanced argillic alteration and hosted within diorite and phreato -magmatic breccias proximal to
the Petrovden Fault (Figure 2).
Mineralization encountered in the new drillholes is consistent with that observed in the initial discovery holes
and occurs as wide , continuous zones of massive sulphides that gradually transition down -dip into
hydrothermal breccias and sulphide stockworks containing disseminated and mottled pyrite and copper
sulphosalts. A key result from the program was drillhole EX_WZD_165_03, which intersected a wide zone
of massive sulphides and extended mineralization 100 metres up-dip toward existing infrastructure and the
Petrovden Fault. Drillholes EX_WZD_165_05A and EX_WZD_210_04 further extended the mineralization
down-dip to the south and southeast by 80 metres and 50 metres, respectively, while also confirming the
higher grades previously reported in EX_WZD_210_01A.
Elsewhere, d rillhole EX_WZD_ 165_05 confirmed the continuity of mineralization between previously
reported drillholes EX_WZD_210_01 and EX_WZD_165_01. At higher elevations, EX_WZD_210_05 and
EX_WZD_165_04 returned relatively narrower intervals of mineralization, indicating that the alteration
envelope pinches out and weakens toward the Petrovden Fault . West of the target, drillholes
EX_WZD_210_02 and EX_WZD_210_03 intersected advanced argillic alteration but failed to return
significant sulphide mineralization.
The mineralized zone is currently defined over approximately 170 metres along strike, 130 metres in width,
and 300 metres in vertical extent, and forms a steeply dipping body elongated parallel to the hanging wall
of the Petrovden Fault. The target remains open along strike and down-dip, with strong potential for further
expansion through additional drilling.
Initial metallurgical testwork on material from WZD indicates that the mineralization is amenable to flotation
processing and would produce both a gold-copper concentrate and a pyrite concentrate using the existing
flowsheet at the Chelopech plant, supporting WZD’s potential to augment the existing Chelopech mine
plan. These conclusions are based on preliminary laboratory -scale testwork conducted at the Chelopech
testwork facility.
p.3 DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep Prospect; Expects Mineral Resource Estimate by Year-End 2026
Next Steps
Drilling at the WZD prospect is proceeding as planned and remains focused on expanding the mineralized
footprint while refining the geometry and continuity of the system. DPM will continue to explore the broader
Wedge Zone Deep corridor for additional mineralization, informed by the possibility of telescoping within
the Chelopech hydrothermal system, where by alteration and mineralization assemblages typically
developed at higher structural levels may occur at greater depth than would normally be expected.
Exploration will also test analogous structural settings along the Petrovden Fault.
The Company is planning further drilling over the balance of 2026, with an initial mineral resource estimate
expected by year-end as part of the Chelopech annual Mineral Resource and Mineral Reserve update. As
part of ongoing exploration programs, the Company continues to test different targets within the Chelopech
mine concession and Brevene exploration licence, with 15 drill rigs currently in operation.
To support potential future engineering and investment decisions at the WZD prospect, the Company has
initiated a series of technical studies , including an initial geotechnical assessment to inform conceptual
mining approaches, an assessment of decline development strategies, and further metallurgical testwork
to better evaluate metallurgical characteristics.
p.4 DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep Prospect; Expects Mineral Resource Estimate by Year-End 2026
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_02 5352 29747 212 32 -56 681 686 5 1.97 1.93 1.32 0.03
EX_WZD_210_03 5352 29747 211 37 -59 no significant intervals
EX_WZD_210_04 5353 29747 211 51 -58 700 714 14 2.19 2.14 1.61 0.04
and 730 740 10 7.77 7.70 2.73 0.07
including 730 735 5 13.87 13.77 3.96 0.10
and 762 783 21 2.07 1.97 1.73 0.10
EX_WZD_210_05 5352 29746 211 34 -47 289 296 7 4.42 3.58 19.23 0.80
and 609 615 6 3.17 3.15 1.94 0.01
and 624 630 6 1.60 1.48 4.72 0.12
EX_WZD_210_06 5352 29746 212 22 -55 completed / awaiting results
EX_WZD_210_07 5352 29747 211 29 -47 in progress
EX_WZD_165_02 5628 29823 164 37 -67 438 443 5 2.20 2.10 5.75 0.09
EX_WZD_165_03 5627 29824 164 10 -60 421.7 442 20.3 14.71 13.35 35.27 1.29
and 449 507 58 15.28 14.58 26.93 0.67
including 453 507 54 16.03 15.32 28.02 0.67
EX_WZD_165_04 5627 29824 164 355 -50 no significant intervals
EX_WZD_165_05 5627 29824 164 4 -71 455.7 503 47.3 5.45 5.23 7.38 0.22
including 464 475 11 8.19 7.81 10.04 0.37
and 546 587 41 4.84 4.70 5.24 0.13
including 555 561 6 7.10 6.94 9.00 0.16
EX_WZD_165_05A 5627 29824 164 4 -71 551 632 81 8.05 7.83 5.97 0.21
including 553 560 7 15.71 14.94 10.33 0.74
including 566 576 10 11.53 11.31 7.98 0.20
including 588 620 32 8.19 8.03 6.09 0.16
and 668 674 6 3.31 3.29 1.02 0.02
and 680 712 32 4.77 4.72 1.24 0.05
and 718 725 7 6.82 6.80 0.78 0.02
and 731 744 13 2.16 2.15 0.70 0.01
and 763 768 5 4.49 4.44 2.00 0.05
EX_WZD_165_06 5627 29824 164 20 -63 in progress
1) AuEq calculation is based on the following formula: Au g/t + 1.05 x Cu %, based on a gold price of $2,500 per ounce and a copper
price of $3.85 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 and a maximum dilution of 3 metres at a 1.5 g/ t
AuEq cut-off, while included intervals are reported using a minimum downhole width of 5 metres and a maximum dilution of 3
metres at a 7 g/t AuEq cut-off. No upper cuts have been applied.
1) Coordinates are in Chelopech mine-grid.
2) Daughter holes identified with “A” (e.g., EX_WZD_165_05A) are navigational holes.
3) True widths have not been estimated at this time as there is insufficient drilling to determine the geometry of mineralizatio n. Most
drillholes are perpendicular to the interpreted plane of mineralization and downhole intervals are expected to represent 90% of the
true width.
p.5 DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep Prospect; Expects Mineral Resource Estimate by Year-End 2026
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.6 DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep Prospect; Expects Mineral Resource Estimate by Year-End 2026
Figure 2. Cross section (5627 E, 150 metres thick) through mineralization encountered in the WZD target
looking north-northeast, displaying drill intercepts, geology, mine infrastructure and the Mineral Resource
domains.
p.7 DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep Prospect; Expects Mineral Resource Estimate by Year-End 2026
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. N-BTK sized core is recovered over navigational drilling intervals. 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 batch of samples and locations for crushed dupli cates
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-grade 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, General Manager, 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 geology,
alteration and mineralization logging data. No limitations were imposed on Mr. Overall’s verification process.
p.8 DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep Prospect; Expects Mineral Resource Estimate by Year-End 2026
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 news release relate to, among other things , the Company’s strategic objective and
associated returns to shareholders, including DPM’s strategy to become a mid -tier precious metals
Company; anticipated future exploration activities at Chelopech and the development of the WZD prospect;
anticipated grades at WZD; the preparation of an initial mineral resource estimate in respect of the WZD
prospect and the timing thereof; the ability to extend the life of mine at Chelopech; production, processing
and recoveries forecasts; expected financial, cost and other metrics; future engineering and investment
decisions with respect to the development of the WZD prospect; the intention to complete technical studies
related to the WZD and the results therefor; success of exploration activities, the price of gold, copper, and
silver, and other commodities. Forward Looking Statements are based on certain key assumptions and the
opinions and estimates of management and the QPs, as of the da te 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 and foreign exchange rates; risks arising from the current economic environment and the impact on
operating costs and other financial metrics, including risks of recession ; the speculative nature of mineral
exploration, development and production, including changes in mineral production performance,
exploitation and exploration results; changes in tax, tariff, and royalty regimes in the jurisdictions in which
the Company operates, sells it concentrates. or which are otherwise applicable to the Company’s business,