Ms. Lila Manassa Murphy reports

DUNDEE CORPORATION WINS TAX COURT OF CANADA APPEAL

Dundee Corp. has been successful in its appeals to the Tax Court of Canada, which disputed reassessments issued by the Canada Revenue Agency (CRA) for the 2014 tax year for both the corporation and its wholly owned subsidiary Dundee Resources Ltd. The Department of Justice consented to judgments allowing both appeals. Details of the appeals are included in Dundee's consolidated financial statements for Dec. 31, 2024.

"We are satisfied to have reached a collaborative resolution with the Canada Revenue Agency," said Lila Manassa Murphy, executive vice president and chief financial officer of Dundee. "This settlement provides closure to a long-standing matter and allows us to dedicate our full attention to advancing Dundee's core strategy of unlocking value for our shareholders through consistent returns and durable sources of cash flow."

The decision impacts the 2014 tax year; however, the corporation believes there were no material changes to its business model that would warrant a different outcome for subsequent tax years. The Tax Court has allowed the appeals and referred the matter back to the Minister of National Revenue for reconsideration and reassessment on the basis that Dundee's filing position was correct. Dundee's consolidated financial statements for Dec. 31, 2024, reports an amount of $12.2-million deposited with the CRA. While the corporation has not yet received the reassessments it expects the refund to include interest less some related liabilities.

About Dundee Corp.

Dundee is primarily engaged in acquiring mineral resource assets. The corporation operates with the objective of unlocking value through strategic investments in mining projects globally.

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