Mr. David Rae reports

DUNDEE PRECIOUS METALS ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Dundee Precious Metals Inc.'s notice of intention to renew its normal course issuer bid to purchase certain of its common shares through the facilities of the TSX. The company commenced a normal course issuer bid on March 1, 2023, which terminated on Feb. 28, 2024. Under the previous bid, the company sought and obtained approval to purchase up to 16.5 million shares, being approximately 9.8 per cent of the company's public float as of Feb. 16, 2023. The company repurchased 9,186,706 shares under the previous bid.

The number of shares that may be purchased during the period of the new bid, which will commence on March 18, 2024, and terminate on March 17, 2025, will not exceed 15.5 million shares, being approximately 9.8 per cent of the company's public float of common shares as of March 6, 2024. All purchases made pursuant to the new bid will be made through the facilities of the TSX or other alternative trading systems, in accordance with applicable Canadian securities laws, and shares purchased pursuant to the new bid will be cancelled. Pursuant to the terms of the new bid, the company will not acquire on any given trading day more than 137,811 shares, representing 25 per cent of the average daily trading volume of shares for the most recently completed six-month period, being 551,244 shares, other than block purchase exceptions.

The company has established an automatic share purchase plan (ASPP) in connection with the NCIB to facilitate the purchase of shares during times when the company would ordinarily not be permitted to purchase shares due to regulatory restrictions or self-imposed blackout periods. Before entering a blackout period, the company may, but is not required to, instruct its broker to make purchases under the NCIB based on parameters set by the company in accordance with the ASPP, TSX rules and applicable securities laws. The ASPP has been precleared by the TSX and will be implemented effective March 18, 2024.

The company has reappointed RBC Capital Markets to make any purchases under the new bid on its behalf. The actual timing and number of shares that may be purchased pursuant to the new bid will be subject to a number of considerations, including, among other things, the company's share price, its financial position and its assessment of alternative uses of capital, in accordance with a disciplined capital allocation framework.

About Dundee Precious Metals Inc.

Dundee Precious Metals is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Namibia, Serbia and Ecuador. The company's purpose is to unlock resources and generate value to thrive and grow together. This overall purpose is supported by a foundation of core values guiding how the company conducts its business and informs a set of complementary strategic pillars and objectives related to ESG (environmental, social and governance), innovation, growth and optimizing its existing portfolio. The company's resources are allocated in line with its strategy to ensure that Dundee Precious Metals delivers value for all of its stakeholders.

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