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Dunav Resources Announces Closing of $16.8 Million Financing

Dunav Resources Announces Closing of $16.8 Million Financing

LONGUEUIL, QUEBEC -- (Marketwire) -- 03/06/13 -- Dunav Resources Ltd. (TSX VENTURE:DNV) (the "Company" or "Dunav") is pleased to announce that it has closed its previously announced brokered private placement financing for total gross proceeds of $16,822,950.

A total of 56,076,500 units, including 6,076,500 units from the exercise of the over-allotment option (the "Option"), were sold at $0.30 per unit (the "Offering"). Each unit was comprised of one common share of the Company and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to acquire one common share of Dunav at a price of $0.50 per share until March 6, 2016.

The Offering syndicate was led by Dundee Securities Ltd. and included Paradigm Capital Inc., Clarus Securities Inc. and Primary Capital Inc. (collectively, the "Agents"). As consideration for their services related to the Offering, the Agents received a cash commission equal to 6.0% of the gross proceeds raised under the Offering (inclusive of the Option). The Agents also received 6.0% compensation warrants, exercisable into one unit at a price of $0.30 per unit until March 6, 2015. On units sold to certain existing shareholders and to persons on the president's list, the Agents received a reduced commission of 3.0% in cash and 3.0% in compensation warrants.

All securities issued in connection with the Offering, including the broker warrants and the underlying securities, are subject to a hold period that expires on July 7, 2013 and may not be traded except as permitted under applicable securities legislation and the policies of the TSXV. Subject to regulatory approval, the Company agreed to make application to list the Warrants on the TSX Venture Exchange for trading following the expiration of the hold period.

The Company intends to use the net proceeds of the Offering for further exploration and development of its mineral projects in the Republic of Serbia and for general corporate purposes.

Following the closing of the Offering, Dunav's issued and outstanding share capital totals 175,319,442 common shares. Dundee Precious Metals Inc. (TSX:DPM) subscribed for 23,333,400 units under the Offering, resulting in a change in its ownership interest in Dunav's outstanding common shares from 47.3% to 45.5% on a non-diluted basis.

About Dunav Resources Ltd.: Dunav Resources is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Serbia. Additional information about the Company is available on SEDAR at and at

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Contacts: Dunav Resources Ltd. James Crombie President and Chief Executive Officer +1.450.640.0810

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