Bulgarian Court Upholds Favourable Ruling on Dundee Precious Metals' Krumovgrad Gold Project

Bulgarian Court Upholds Favourable Ruling on Dundee Precious Metals' Krumovgrad 
Gold Project 
TORONTO, ONTARIO -- (Marketwire) -- 03/04/13 -- Dundee Precious
Metals Inc. (TSX:DPM)(TSX:DPM.WT.A) ("DPM" or "the Company") has
announced that a five member panel of the Supreme Administrative
Court (the "Court") has upheld a previous Court decision to dismiss
appeals filed against the positive environmental impact assessment
("EIA") decision for its Krumovgrad Gold Project in Bulgaria, issued
by the Bulgarian Minister of Environment and Waters. This decision is
not subject to appeal. 
"We are extremely pleased by the Court's decision to uphold the
earlier ruling to dismiss the appeals of the Minister's resolution
approving the Krumovgrad EIA", said Jonathan Goodman, President and
CEO. "The EIA is a core permit in the implementation of an investment
project which now allows us to advance this exciting project." 
In 2012, the Court upheld the 30 year mining concession granted by
the Bulgarian Council of Ministers on the Khan Krum Deposit in
Krumovgrad to DPM's subsidiary, Balkan Mineral and Mining EAD.  
"Over the last several years we have worked hard to redevelop the
Krumovgrad project to address the concerns of the community and look
forward to building a project that will bring significant economic
benefit to Bulgaria and the local community, as well as DPM and its
shareholders," Goodman said.  
The proposed mine site is located at Ada Tepe, approximately three
kilometres south of the town of Krumovgrad in southeastern Bulgaria.
The project plan contemplates the construction of an open pit mining
operation comprised of a process plant, which will employ
conventional crushing, grinding and flotation processing for gold
extraction, and the disposal of thickened tailings, together with
mine rock waste, in an integrated mine waste facility. A new
feasibility study, completed in November 2011, confirmed the
commercial and economic viability of the project, which has a payback
of approximately 3.3 years. The treatment rate of 850,000 tonnes per
year is consistent with existing permitting applications and
environmental submissions and, at this production rate, the project
has a mine life of approximately nine years.  
Dundee Precious Metals Inc. is a Canadian based, international gold
mining company engaged in the acquisition, exploration, development,
mining and processing of precious metals. The Company's principal
operating assets include the Chelopech operation, which produces a
gold, copper and silver concentrate, located east of Sofia, Bulgaria;
the Deno Gold operation, which produces gold, copper, zinc and silver
concentrate, located in southern Armenia; and the Tsumeb smelter, a
concentrate processing facility located in Namibia. DPM also holds
interests in a number of developing gold properties located in
Bulgaria, Serbia, and northern Canada, including interests held
through its 53.1% owned subsidiary, Avala Resources Ltd., its 47.3%
interest in Dunav Resources Ltd. and its 10.7% interest in Sabina
Gold & Silver Corp. 
This news release contains "forward-looking statements" that involve
a number of risks and uncertainties. Forward-looking statements
include, but are not limited to, statements with respect to the
future price of gold and silver, the estimation of mineral reserves
and resources, the realization of mineral estimates, the timing and
amount of estimated future production and output, costs of
production, capital expenditures, costs and timing of the development
of new deposits, success of exploration activities, permitting time
lines, currency fluctuations, requirements for additional capital,
government regulation of mining operations, environmental risks,
unanticipated reclamation expenses, title disputes or claims,
limitations on insurance coverage and timing and possible outcome of
pending litigation. Often, but not always, forward-looking statements
can be identified by the use of words such as "plans", "expects", or
"does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Forward-looking statements
are based on the opinions and estimates of management as of the date
such statements are made, and they involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any other future results, performance or achievements expressed
or implied by the forward-looking statements. Such factors include,
among others: the actual results of current exploration activities;
actual results of current reclamation activities; conclusions of
economic evaluations; changes in project parameters as plans continue
to be refined; future prices of gold, copper, zinc and silver;
possible variations in ore grade or recovery rates; 
failure of plant, equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing or in the
completion of development or construction activities, fluctuations in
metal prices, as well as those risk factors discussed or referred to
in documents filed from time to time with the securities regulatory
authorities in all provinces and territories of Canada and available
at www.sedar.com. Although the Company has attempted to identify
important factors that could cause actual actions, events or results
to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or
results not to be anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Unless required by securities
laws, the Company undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions
should change. Accordingly, readers are cautioned not to place undue
reliance on forward-looking statements.
Dundee Precious Metals Inc.
Jonathan Goodman
President & Chief Executive Officer
(416) 365-2408
Dundee Precious Metals Inc.
Lori Beak
Senior Vice President, Investor &
Regulatory Affairs and Corporate Secretary
(416) 365-5165
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