DPM Metals Inc. (TSX: DPM) (ASX: DPM) (ARBN: 689370894) announced preliminary production results for the three and nine months ended September 30, 2026.

“We continue to deliver strong operating performance, producing 97,000 gold equivalent ounces in the third quarter, positioning DPM to achieve the high-end of our production guidance for 2026,” said David Rae, President and CEO of DPM Metals.

“The ramp-up of Vareš continues to progress ahead of our expectations and the mine is now expected to exceed its 2026 production guidance – an achievement that demonstrates our strong operating capabilities.

“Before year-end, we plan to start development of the twin declines for the Wedge Zone, which is expected to add near-term production and mine life at Chelopech. Combined with our ongoing exploration success at Dumitru Potok and Brevene Porphyry South, we are building a platform for high-margin growth to deliver strong returns for our shareholders.

“We continue to invest in these high-return organic growth opportunities while returning capital to shareholders, buying back nearly $150 million of shares year-to-date, reflecting our confidence and excitement for our organic growth potential.”

Preliminary Third Quarter 2026 Production Highlights

Preliminary results for the third quarter of 2026 are provided below:

1. The Company uses conversion ratios for calculating GEO for its silver, copper, zinc and lead production and sales, which are calculated by multiplying the volumes of metal produced or sold, as applicable, by the respective average market metal prices for the quarter, and dividing the resulting figure by the average market gold price. See section titled “Gold Equivalent Calculation” on page 4 for the average market metals prices used in the calculation of third quarter gold equivalent production.

Preliminary results for the first nine months of 2026 are provided below:

1. The Company uses conversion ratios for calculating GEO for its silver, copper, zinc and lead production and sales, which are calculated by multiplying the volumes of metal produced or sold, as applicable, by the respective average market metal prices for the quarter, and dividing the resulting figure by the average market gold price. See section titled “Gold Equivalent Calculation” on page 4 for the average market metals prices used in the calculation of the first nine months of 2026 gold equivalent production.

Operating Highlights

As a result of strong year-to-date performance, DPM now expects to achieve the high end of its gold equivalent production guidance for the year.

Vareš produced approximately 45,000 GEO in the third quarter, in line with the planned ramp-up of the mine to full production and reflecting stronger than expected grades. Construction of the second tailings filter and paste backfill plant are nearing completion and are expected to begin commissioning in November and December, respectively.

Overall, the Vareš ramp-up is proceeding on plan, and DPM expects to achieve the full production run-rate of 850,000 tonne per annum by the end of 2026. Varesš is expected to exceed the high end of its 2026 gold equivalent production range.

On August 10, 2026, DPM declared commercial production at Vareš. Gross operating costs at Vares will be included in its all-in sustaining cost from that date forward.

Refer to the Company’s news release dated October 1, 2026, for information with respect to the recent decision of the Constitutional Court in Bosnia and Herzegovina and the “Cautionary Note Regarding Forward Looking Information” section of this news release.

Chelopech produced approximately 50,000 GEO in the third quarter, which was in line with plan, and Chelopech is on-track to achieve its production guidance for 2026.

DPM has continued to advance the high-grade Wedge Zone prospect as a near-term opportunity, which is expected to grow production and extend mine life at Chelopech commencing in late 2028. The Company is on track to complete an initial Wedge Zone Mineral Resource estimate by year-end and has advanced engineering to proceed with the development of twin declines to the Wedge Zone, which is expected to commence during the fourth quarter of 2026. The Wedge Zone is expected to begin contributing to Chelopech’s production in late 2028.

Ada Tepe produced approximately 2,000 GEO in the third quarter, as the process plant concluded operations on July 15, 2026. Dismantling and refurbishing of certain processing facilities commenced, in preparation for the Čoka Rakita project, which is expected to commence construction in early 2027.

Return of Capital to Shareholders

During the third quarter of 2026, DPM repurchased 1,860,000 common shares at an average price of US$40.23 (Cdn$56.35) per share for a total cost of approximately US$74.8 million under its Normal Course Issuer Bid. Year-to-date, the Company has repurchased 4,003,348 common shares at an average price of US$37.36 (Cdn$51.97) per share for a total of approximately US$149.6 million.

Since 2021, DPM has repurchased a total of 33.6 million shares at an average price of C$16.71, which represents approximately 18% of the weighted average number of shares outstanding over that period.

As previously announced in July 2026, DPM will pay a quarterly dividend of US$0.04 per share on October 15, 2026, to shareholders of record on September 30, 2026.

Gold Equivalent Calculation

The Company uses conversion ratios for calculating GEO for its silver, copper, zinc and lead production and sales, which are calculated by multiplying the volumes of metal produced or sold, as applicable, by the respective assumed metal prices, and dividing the resulting figure by the assumed gold price. The consolidated total GEO reported may include minor quantities of other metals that are not considered material.

GEO produced and sold for the third quarter and first nine months of 2026 and DPM’s 2026 guidance are based on the following metal prices:

For more information regarding DPM’s 2026 guidance and three-year outlook, refer to the MD&A for the three months ended March 31, 2026, issued on May 5, 2026, available on at www.sedarplus.ca and at www.dpmmetals.com.

Technical Information

The technical and scientific information in this news release has been reviewed and approved by Ross Overall, Director, Corporate Technical Services, of DPM, who is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, 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).