Dundee Precious Metals Files Technical Report on the Ada Tepe Gold Mine
February 23 2023 - 5:00PM
Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or
“the Company”) today announced that the Company has filed a
technical report for its Ada Tepe gold mine in Bulgaria. The
purpose of the report was to support the updated Mineral Resource
and Mineral Reserve estimate and improved life of mine plan for Ada
Tepe, as previously disclosed in the Company’s news release dated
January 12, 2023.
The technical report has been prepared pursuant
to the Canadian Securities Administrator’s National Instrument
43-101. The technical report and the January 12, 2023 news release
are both available for review on SEDAR (www.sedar.com) and on the
Company’s website (www.dundeeprecious.com).
About Dundee Precious
Metals
Dundee Precious Metals Inc. is a Canadian-based
international gold mining company with operations and projects
located in Bulgaria, Namibia, Ecuador and Serbia. The Company’s
purpose is to unlock resources and generate value to thrive and
grow together. This overall purpose is supported by a foundation of
core values, which guides how the Company conducts its business and
informs a set of complementary strategic pillars and objectives
related to ESG, innovation, optimizing our existing portfolio, and
growth. The Company’s resources are allocated in-line with its
strategy to ensure that DPM delivers value for all of its
stakeholders. DPM’s shares are traded on the Toronto Stock Exchange
(symbol: DPM).
For further information please contact:
David
RaePresident and Chief Executive OfficerTel: (416)
365-5092drae@dundeeprecious.com |
Jennifer
CameronDirector, Investor RelationsTel: (416)
219-6177jcameron@dundeeprecious.com |
Cautionary Note Regarding Forward-Looking
Statements
This news release contains “forward looking
statements” or “forward looking information” (collectively,
“Forward Looking Statements”) that involve a number of risks and
uncertainties. Forward Looking Statements are statements that are
not historical facts and are generally, but not always, identified
by the use of forward looking terminology such as “plans”,
“expects”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “outlook”, “intends”, “anticipates”, “believes”, or
variations of such words and phrases or that state that certain
actions, events or results “may”, “could”, “would”, “might” or
“will” be taken, occur or be achieved, or the negative of any of
these terms or similar expressions. The Forward Looking Statements
in this news release relate to, among other things: mine life; the
estimation of Mineral Reserves and Mineral Resources and the
realization of such mineral estimates. Forward Looking Statements
are based on certain key assumptions and the opinions and estimates
of management and the Qualified Persons, 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. In addition to factors already discussed in this news
release, such factors include, among others, fluctuations in metal
and sulphuric acid prices, toll rates and foreign exchange rates;
risks arising from the current inflationary environment and the
impact on operating costs and other financial metrics, including
risks of recession and the risk that the power subsidy in Bulgaria
may be discontinued; continuation or escalation of the conflict in
Ukraine, including the continued exemption from the Council of
Europe’s sanctions in favour of Bulgaria with respect to the import
of Russian oil and economic sanctions against Russia and Russian
persons which may impact supply chains; risks relating to the
Company’s business generally and the impact of global pandemics,
including COVID-19, resulting in changes to the Company’s supply
chain, product shortages, delivery and shipping issues, closure
and/or failure of plant, equipment or processes to operate as
anticipated, employees and contractors becoming infected, low
vaccination rates, lost work hours and labour force shortages;
regulatory changes, including changes impacting the complex
concentrate market; possible variations in ore grade and recovery
rates; inherent uncertainties in respect of conclusions of economic
evaluations and economic studies; changes in project parameters,
including schedule and budget, as plans continue to be refined;
uncertainties with respect to actual results of current exploration
activities; uncertainties and risks inherent to developing and
commissioning new mines into production, which may be subject to
unforeseen delays; uncertainties inherent with conducting business
in foreign jurisdictions where corruption, civil unrest, political
instability and uncertainties with the rule of law may impact the
Company’s activities; limitations on insurance coverage; 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; actual results of
current and planned reclamation activities; opposition by social
and non-governmental organizations to mining projects and smelting
operations; unanticipated title disputes; claims or litigation;
failure to achieve certain cost savings or the potential benefits
of any upgrades and/or expansion; increased costs and physical
risks, including extreme weather events and resource shortages,
related to climate change; uncertainties inherent to the ability of
the Company to meet sustainability, environmental and greenhouse
gas emission reduction targets, goals and strategies, which may be
affected by unforeseeable events outside of its control or business
necessities that are not yet known; cyber-attacks and other
cybersecurity risks; risks related to the implementation, cost and
realization of benefits from digital initiatives; as well as those
risk factors discussed or referred to in any other documents
(including without limitation the Company’s most recent Annual
Information Form) filed from time to time with the securities
regulatory authorities in all provinces and territories of Canada
and available on SEDAR at www.sedar.com. The reader has been
cautioned that the foregoing list is not exhaustive of all factors
which may have been used. 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. The
Company’s Forward Looking Statements reflect current expectations
regarding future events and speak only as of the date hereof.
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.
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