Mr. Rick Howes 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 repurchase certain of its common shares through the facilities of the TSX. The company commenced a normal course issuer bid on May 16, 2018, which expired on May 15, 2019. Under the previous bid, the company sought and obtained approval to purchase up to 8.9 million shares.

The number of shares that can be purchased during the period of the new bid, which commences on Feb. 28, 2020, and terminates on Feb. 27, 2021, will not exceed nine million shares, being approximately 5 per cent of the 180,580,452 outstanding shares as of Feb. 18, 2020. 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 repurchased 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 134,336 shares, representing 25 per cent of the average daily trading volume of shares for the most recently completed six-month period, being 537,347 shares, other than block purchase exceptions.

The company has reappointed RBC Capital Markets to make any purchases under the new bid on its behalf. Under the previous bid, the company sought and obtained approval to purchase up to 8.9 million shares, but did not purchase any shares under the previous bid, as it continued to finance the development of its Ada Tepe mine in Bulgaria. 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, 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 engaged in the acquisition of mineral properties as well as the exploration, development, mining and processing of precious metals.

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