Dundee Precious Metals Inc. (TSX: DPM) announced preliminary production results from both of its mines for the quarter ended March 31, 2025.

“With solid gold production in the first quarter, we are on track to meet our guidance for 2025, with higher production planned for the second half of the year,” said David Rae, President and Chief Executive Officer. “We also continued our peer-leading capital returns program, repurchasing approximately $83 million shares during the first quarter.”

Production Highlights

Preliminary results from continuing operations for the first quarter are provided in the table below:

1. As disclosed in Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2024, issued on February 13, 2025 and available at www.sedarplus.ca and at www.dundeeprecious.com.

Operating Highlights

Chelopech produced approximately 37,400 ounces of gold and 5.9 million pounds of copper during the first quarter, in line with the mine plan. With gold and copper grades expected to increase in the second quarter, Chelopech is on-track to achieve its production guidance for 2025.

Ada Tepe produced approximately 12,500 ounces of gold in the first quarter, in line with expectations. As previously disclosed in February 2025, gold production at Ada Tepe is forecast to be approximately 50% lower in the first half of 2025 as compared to the second half of the year due to the cell sequencing of its integrated mine waste facility. Ada Tepe is on track to achieve its gold production guidance for the year.

Returning Capital to Shareholders

During the first quarter of 2025, DPM repurchased approximately 7,551,023 common shares at an average price of US$11.04 (Cdn$15.86) per share for a total cost of approximately US$83 million under the Normal Course Issuer Bid (“NCIB”).

As previously announced in February 2025, DPM will pay a quarterly dividend of US$0.04 per share on April 15, 2025, to shareholders of record on March 31, 2025.

Timing of First Quarter 2025 Operating and Financial Results

The Company plans to release its first quarter 2025 operating and financial results after market close on Tuesday, May 6, 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.dundeeprecious.com.

About Dundee Precious Metals Inc.

Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, 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’s shares are traded on the Toronto Stock Exchange.