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DPM Board Announces Executive Transition and Senior Officer Appointment

DPM Board Announces Executive Transition and Senior Officer Appointment 
TORONTO, ONTARIO -- (Marketwire) -- 03/21/13 -- Dundee Precious
Metals Inc. (TSX:DPM)(TSX:DPM.WT.A) ("DPM" or "the Company")
announced that, effective April 1, 2013, Jonathan Goodman will become
the Executive Chair of the board of directors. Rick Howes, the
current Executive Vice President and Chief Operating Officer, will
succeed Mr. Goodman as President and CEO and Peter Gillin will be
appointed as Lead Director. 
William Wilson, who has served as a director since the Company's
inception in 1983 and as Chairman of the board of directors for over
10 years, will continue in his capacity as an independent director of
the Company.  
"Since 2002, Bill led the board and the Company through its
transition from a closed-end investment company to a successful
mining company with operations in several countries," said Jonathan
Goodman. "His wise counsel and intimate knowledge of both the
financial and operational side of the mining industry were integral
to our success and we thank him for his inexhaustible efforts on
behalf of the board, the company and our stakeholders." 
Effective April 1, 2013, David Rae, Senior Vice President,
Operations, will be assuming additional senior operational
responsibilities and reporting to Mr. Howes. Mr. Rae is a seasoned
international mining and smelting executive with extensive experience
in Africa, Europe and Canada. He has held increasingly senior
operating and executive roles with international mining companies
including Falconbridge, Xstrata and, most recently, Andean American.
Since joining DPM in November 2012, Mr. Rae has become increasingly
familiar with the Company's operations and its people.  
Richard Gosse will assume the role of Senior Vice President,
Exploration, effective April 1, 2013. Before joining DPM, Mr. Gosse
served as Vice President, Exploration, with a variety of
international mining companies, including Turquoise Hill (formerly
Ivanhoe Mines) and SouthGobi Resources, and has extensive experience
leading exploration activities in a variety of countries in Europe
and Asia, including Bulgaria, Mongolia, India, China and Indonesia.
In addition to managing the exploration teams across the
organization, he will lead the develop
ment of the Company's long term
exploration strategy. Jointly, Mr. Rae and Mr. Gosse demonstrate the
Company's strength in both the operations and exploration areas of
our business. 
"We are fortunate to have such highly accomplished professionals as
David and Richard join our senior leadership team," said Rick Howes.
"With operations in numerous countries, a growing list of development
and expansion projects, as well as exciting greenfield opportunities
to explore, their skills and experience will serve us well. In my new
role as CEO, I look forward to working closely with Jonathan and the
rest of the Board, and leading DPM into the future as we continue to
build a great company." 
FORWARD-LOOKING STATEMENTS  
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. 
About DPM 
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 a 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. 
Contacts:
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