Mr. Jean-Philippe Mai reports

DST ANNOUNCES THE SALE OF NON-STRATEGIC OPERATION AND ASSETS AND A GLASSLOCK DETAILED ENGINEERING MANDATE

Dundee Sustainable Technologies Inc.'s board of directors has approved the corporation's decision to divest from a portion of its operation and assets located at its Thetford Mines technical facilities. Dundee Sustainable has entered into an agreement with Societe Asbestos Corp. Ltd. (TSX-V: AB.H), a Mazarin Inc. (TSX-V: MAZ.H) subsidiary, for SAL to purchase the remaining portion of a 3,800-tonne processing contract (see press release April 1, 2021) and its associated processing plant equipment and utilities.

As part of the transaction, and via a dedicated asset purchase agreement signed on July 13, 2023, Dundee Sustainable will receive an amount equivalent to $846,500, in return for the operation contract and processing plant equipment. Dundee's objective is to benefit from the sale of the processing contract and plant equipment and to allow for the corporation to focus on the development and commercialization of its flagship CLEVR and GlassLock processes.

"We would like to thank all of those that have contributed over the years to the creation of this successful processing operation at DST. This transaction is part of DST's strategy to divest from a portion of its operation and assets which are not directly associated towards the development and commercialization of the corporation's proprietary Technologies," commented Jean-Philippe Mai, president and chief executive officer.

As part of Dundee's proprietary technologies commercialization efforts, the corporation has just initiated a detailed engineering mandate with a gold mining company. The mandate consists in detailed engineering deliverables for a plant utilizing Dundee's proprietary GlassLock process for the stabilization of legacy arsenic-bearing material at the customer's operating gold mine in West Africa (see press release July 10, 2020).

The transaction allows for the corporation's full commitment toward the execution of the mandate. The mandate is expected to last over a period of four months and will be conducted by Dundee's engineering team in Thetford Mines.

About Dundee Sustainable Technologies Inc.

The corporation is engaged in the development and commercialization of environment-friendly technologies for the treatment of materials in the mining industry. Through the development of patented, proprietary processes, Dundee extracts precious and base metals from mineralized material, concentrates and tailings, while stabilizing contaminants such as arsenic, which could not otherwise be extracted or stabilized with conventional processes because of metallurgical issues or environmental considerations.

We seek Safe Harbor.