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DPM Announces Bulgarian Court's Dismissal of Appeals Against Krumovgrad Environmental Impact Assessment; However, Fight Continues

Dundee Precious Metals Inc. (DPM.TO) today announced that the Supreme Administrative Court has dismissed the appeals filed against the approval, by the Bulgarian Minister of Environment and Waters, of the environmental impact assessment ("EIA") for the Company's Krumovgrad Gold Project in Bulgaria.

"We are extremely pleased by the Court's decision to dismiss the appeals of the Minister's resolution approving our Krumovgrad EIA", said Jonathan Goodman, President and CEO. "Over the last several years we have worked hard to redevelop the project to address the concerns of the community and look forward to building a project that will bring economic benefit to Bulgaria and the local community, as well as DPM and its shareholders."

This decision of the Court's three member panel is subject to appeal to the five member panel. It is expected that an appeal will be filed and that a hearing by the Court's five member panel will be held by the end of 2012. Mining operations will not commence until all EIA appeals have been resolved. Earlier this year, the Court upheld the 30 year mining concession granted by the Bulgarian Council of Ministers on the Khan Krum Deposit in Krumovgrad to DPM's subsidiary, Balkan Mineral and Mining EAD.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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