Mr. David Rae reports

DPM METALS ANNOUNCES FIRST QUARTER 2026 PRELIMINARY PRODUCTION RESULTS; RAMP-UP OF VARES PROCEEDING WELL

DPM Metals Inc. has released preliminary production results for the quarter ended March 31, 2026.

"With solid operating performance in the first quarter, we are on track to meet our guidance for 2026, with higher production planned in the second half of the year as we continue to progress the ramp-up at Vares to full production," said David Rae, president and chief executive officer of DPM Metals. "The high-grade, low-cost nature of our operations and our disciplined focus on cost management positions us well to continue delivering consistent margins in the midst of challenging global economic conditions.

"We are pleased to have received the renewal of the exploration permits for the Coka Rakita licence in March as anticipated, reflecting the well-defined permitting process in Serbia. We have started a 20,000-metre drilling program, focused on infilling and extending mineralization at the Dumitru Potok prospect, amongst other targets."

Preliminary first quarter 2026 production highlights

Preliminary results for the first quarter are provided in an attached table.

The company uses conversion ratios for calculating GEOs (gold equivalent ounces) 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 market average metal prices for the quarter, and dividing the resulting figure by the market average gold price. See the section on gold equivalent calculation for the market average metals prices used in the calculation of first quarter gold equivalent production.

Vares produced approximately 29,000 GEOs in the first quarter, in line with the planned ramp-up of the mine to full production. Payable metals sold of approximately 14,000 GEOs were lower than the GEOs produced due primarily to timing of deliveries. DPM has continued to make strong progress at Vares, with development rates in line with expectations and the paste backfill plant on track for commissioning in the third quarter of the year. During the second quarter, the processing plant will be shut down for approximately 20 days for the preparation of installation tie-ins for the second tailings filter. This will allow installation of the tailings filter with minimal impact to the higher production rates anticipated in the second half of the year. Vares is on track to achieve its guidance for 2026.

Chelopech produced approximately 43,000 GEOs during the first quarter, with lower metal grades and gold recoveries as expected with the type of ore processed during the period. Production is expected to increase in the second quarter and Chelopech is on track to achieve its production guidance for 2026.

Ada Tepe produced approximately 12,000 GEOs in the first quarter, in line with expectations. Ada Tepe is scheduled to reach the end of its life by mid-2026, with the final production blast scheduled for mid-April. The company is committed to the responsible closure and rehabilitation of Ada Tepe in line with the highest standards and in accordance with the regulatory framework.

Renewal of Coka Rakita licence exploration permits

In mid-March, 2026, DPM received the normal course renewal of exploration permits for the Coka Rakita licence as anticipated. A 20,000-metre drilling program was initiated with two drill rigs currently active, ramping up to 10 drill rigs by June. A significant component of the drilling program will be allocated to infilling and extending mineralization at Dumitru Potok and increasing the drilling density prior to initiating an economic study. An additional 20,000 metres of drilling and six to eight drill rigs will be dedicated to the Putaj Cuka licence, targeting the same northwest geological trend of the Coka Rakita and Dumitru Potok projects.

Return of capital to shareholders

During the first quarter of 2026, DPM repurchased approximately 700,800 common shares at an average price of $36.29 (U.S.) ($49.75 (Canadian)) per share for a total cost of approximately $25.4-million (U.S.) under its normal course issuer bid, which was renewed March 18, 2026. The company's board of directors has authorized the repurchase of up to $200-million (U.S.) of shares within 2026.

As previously announced in February, 2026, DPM will pay a quarterly dividend of four U.S. cents per share on April 15, 2026, to shareholders of record on March 31, 2026.

Timing of first quarter 2026 operating and financial results

The company plans to release its first quarter 2026 operating and financial results after the market close on Tuesday, May 5, 2026. The news release, management's discussion and analysis (MD&A), and condensed interim consolidated financial statements will be posted on SEDAR+ and on the company's website.

On Wednesday, May 6, 2026, at 9 a.m. EDT, DPM will host a conference call and audio webcast to discuss the results, followed by a question-and-answer session. To participate via conference call, register in advance on-line to receive the dial-in information, as well as a personalized PIN (personal identification number) to access the call.

Gold equivalent calculation

The company uses conversion ratios for calculating GEOs 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.

GEOs produced and sold for the first quarter 2026 and DPM's 2026 guidance are based on the metal prices noted in an attached table.

For more information regarding DPM's 2026 guidance and three-year outlook, refer to the MD&A for the three and 12 months ended Dec. 31, 2025, issued on Feb. 10, 2026, available on SEDAR+ and the company's website.

Technical information

The technical and scientific information in this news release has been reviewed and approved by Ross Overall, director, corporate technical services, of the 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 is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Bosnia, and Herzegovina, Serbia, and Ecuador. The company's strategic objective is to become a mid-tier precious metals company, which is based on sustainable, responsible and efficient gold production from DPM's 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 DPM's shareholders. DPM trades on the Toronto Stock Exchange (symbol DPM) and the Australian Securities Exchange as a foreign exempt listing (symbol DPM).

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