An anonymous director reports

DUNDEE CORPORATION ANNOUNCES ACQUISITION OF SENIOR SECURED NOTES AND UNITS OF MARITIME RESOURCES CORP.

In accordance with regulatory requirements, Dundee Corp.'s wholly owned subsidiary, Dundee Resources Ltd., has acquired $1-million (U.S.) principal amount non-convertible senior secured notes of Maritime Resources Corp. maturing Aug. 14, 2025, which may be extended by Maritime in certain circumstances and under certain conditions until Aug. 14, 2026. As part of the purchase of the senior secured notes, Dundee Resources received 7,662,285 warrants of Maritime. Each note warrant is exercisable into one common share in the capital of the issuer at a price of seven cents per note warrant up until Aug. 14, 2025, and subject to an extension in the event that the maturity date of the senior secured notes is extended to the extended maturity date. Concurrently, Dundee Resources also acquired 13,125,000 units of Maritime at the price of four cents per unit for aggregate consideration of $525,000. Each unit comprised one common share and one common share purchase warrant. Each warrant is exercisable to acquire one common share of the issuer at an exercise price of seven cents per share until Aug. 14, 2026.

Immediately prior to the acquisition of securities described in this news release, Dundee and its affiliates owned 93,861,919 common shares of the issuer, representing an approximate 19.79-per-cent interest in the issuer on an undiluted basis. Immediately following the transaction that triggered the requirement to file this news release, Dundee and its affiliates own or control an aggregate of 106,986,919 common shares and 20,787,285 warrants, representing an approximate 19.75-per-cent interest in the issuer on an undiluted basis and a 22.72-per-cent interest in the issuer on a partially diluted basis.

Dundee acquired the securities of the issuer for investment purposes only. Dundee intends to review, on a continuous basis, various factors related to its investment, including (but not limited to) the price and availability of the securities of the issuer, subsequent developments affecting the issuer or its business, and the general market and economic conditions. Based upon these and other factors, Dundee may decide to purchase additional securities of the issuer or may decide in the future to sell all or part of its investment.

This news release is being issued in accordance with National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. The early warning report respecting the acquisition will be filed on the System for Electronic Document Analysis and Retrieval (SEDAR) under the issuer's profile. To obtain a copy of the early warning report filed by Dundee, please contact Dundee Corp., Legal department, 80 Richmond St. West, Suite 2000, Toronto, Ont., M5H 2A4, telephone number: 416-365-5172.

About Dundee Corp.

Dundee is a public Canadian independent holding company listed on the Toronto Stock Exchange under the symbol DC.A. Through its operating subsidiaries, Dundee is an active investor focused on delivering long-term sustainable value as a trusted partner in the mining sector with more than 30 years of experience making accretive mining investments.