Dundee Precious Metals Inc. reported new assay results from its ongoing infill drilling program at Coka Rakita in eastern Serbia, where DPM recently announced an Inferred mineral resource estimate of 1.8 million ounces of gold. The Company also reported results from the scout drilling program at the Dumitru Potok and Frasen prospects, which are located on the Coka Rakita licence and are approximately 1.0 to 1.5 kilometres north of the Coka Rakita deposit. Highlights: Strong high-grade intercepts from infill drilling at Coka Rakita, that continue to confirm and extend the high-grade core, including: RIDD052A ?

81 metres at 50.57 g/t Au and 0.15% Cu from 122 metres; RIDD052 ? 85 metres at 8.80 g/t Au and 0.13% Cu from 411 metres; RIDD50A ? 45 metres at 10.08 g/t Au from 219 metres; RIDD049 ?

45 metres at 4.77 g/t Au from 604 metres; RIDT030A ? 53 metres at 2.36 g/t Au and 0.25% Cu from 162 metres; RIDT029 ? 40 metres at 4.50 g/t Au and 0.1% Cu from 450 metres; RIDT027 ?

54 metres at 27.99 g/t Au from 427 metres; and RIDT017 ? 26 metres at 5.61 g/t Au from 504 metres. New results from scout drilling on Coka Rakita exploration licence: Confirms camp-wide upside potential for high grade, manto-like skarn gold-copper mineralization, as well as additional potential for sandstone hosted skarn mineralization and porphyry type mineralization.

Recently returned intercepts include: DPDD012 ? 26 metres at 3.54% Cu and 3.03 g/t Au from 1,155 metres; 30 metres at 1.36% Cu and 1.11 g/t Au from 1,214 metres; DPDD013A ? 9 metres at 0.64% Cu and 0.55 g/t Au from 84 metres; BIDD222 ?

8 metres at 2.36% Cu and 1.26 g/t Au from 706 metres; BIDD223 ? 14 metres at 1.52 % Cu and 1.23 g/t Au from 657 metres; and BIDD224 ? 45 metres at 0.26% Cu and 0.80 g/t Au from 327 metres.

Next steps: DPM is on track to complete a preliminary economic assessment (?PEA?) for Coka Rakita in the second quarter of 2024 and continues to advance activities aimed at accelerating the project, including geotechnical and hydrogeological drilling, the next phase of the metallurgical testwork program, the evaluation of locations for potential site infrastructure, and stakeholder engagement activities. The Company is also aggressively pursuing additional potential skarn targets through its scout drilling campaigns within the Coka Rakita licence, on the new Potaj Cuka and Pe?ter Jug licences, and on the Umka licence. In 2024, DPM has budgeted between $20 million and $22 million for exploration activities in Serbia.

Coka Rakita Infill Drilling Program Results: The infill drilling program at Coka Rakita continues, with an additional 9,200 metres drilled comprising of 19 completed drill holes and a further seven ongoing drill holes, since the Company?s previous update on November 15, 2023. Results from the infill drilling program continues to deliver high-grade intercepts, including the project?s best intercept reported to date from drill hole RIDD052A. This intercept returned a wide interval of high-grade gold mineralization, with visible gold observed over an approximate 20 metre section of the hole related to strong skarn altered sandstone with intermittent brecciated intervals.

Fire assay results returned an 81-metre interval grading at 50.57 g/t Au and 0.15% Cu from 122 metres, including a single 1-metre interval of 3,025 g/t Au from 173m to 174m. In addition to confirming the grade-tenor of the mineralization, infill drilling continues to demonstrate a coherent concentration of high-grade mineralization within the core of the deposit. Coordinates are in UTM Zone 34 North WGS84 datum.

Intervals are reported at a cut-off grade of 1 g/t AuEq using 5 metres minimum length and 5 metres maximum internal dilution. Higher grade ?Including? intervals are reported at a cut-off grade of 5 g/t AuEq using 5 metres minimum length and 3 metres maximum internal dilution.

The AuEq calculation is based on the following formula: Au g/t + 1.35 x Cu %, based on a gold price of $1,400/oz. and a copper price of $2.75/lb.; and assumes metallurgical recoveries of 90% for gold and 90% for copper within the equivalency calculation. These assumptions are based on preliminary metallurgical testwork results and expected behaviour of copper and gold during flotation.

Copper below 0.1% has not been reported and is not included in the equivalency calculation. No upper cuts have been applied. Based on the current understanding of the geometry of the mineralized body, true widths are considered to be 90% or more of the reported downhole interval.

?DT? within the hole naming nomenclature (e.g. RIDT005) indicates that the hole is a diamond tail of a reverse circulation pre-collar drillhole. Daughter holes identified with ?A? (e.g. RIDT030A) are navigational holes with collar coordinates and depth indicating the exit point from the parent hole.

?HG? within the hole naming nomenclature (e.g. RADDHG001) indicates that the hole is a hydrogeological monitoring hole. Coka Rakita Scout Drilling: The Company is continuing its aggressive scout drilling program on the Coka Rakita exploration licence, drilling over 7,800 metres since the previous update on November 15, 2023, with seven drill holes completed and six drill holes in progress.

The objective of this phase of drilling is to test for the continuation of skarn hosted gold mineralization within sandstones as well as conglomerate and marble hosted copper-gold mineralization based on the presence of favourable stratigraphy and fertile intrusives. The current drill plan builds upon previous intercepts of these mineralization types, found to the north of Coka Rakita. Examples include the previously disclosed drill hole RADD044, which included 42 metres at 0.72% Cu and 0.5 g/t Au hosted within skarn altered marbles, and drillhole BIDD221, which reported 5 metres at 1.45% Cu and 0.64 g/t Au on manto-like skarn mineralization.

So far, the scout holes drilled north of Coka Rakita have confirmed the conceptual targeting model and consistently show the presence of skarn alteration and mineralization within more reactive lithological units. Mineralization is interpreted as a manto-like skarn, developed at the limit of conglomerates /sandstone and marbles, in close proximity of fertile diorite porphyries that often display potassic alteration and exhibiting weak to moderate copper-gold mineralization. At the Dumitru Potok prospect, located approximately 1.5 kilometres northeast of Coka Rakita, several long holes were drilled to test for the extension of a higher grade manto target at depth.

Drill hole DPDD012, collared on the eastern flank of the Dumitru Potok prospect, reported two, deep (~ 900 metres below surface), but consistent intercepts of high-grade copper-gold manto-like skarn mineralization including 26 metres at 3.54% Cu and 3.03 g/t Au from 1,155 metres downhole and 30 metres at 1.36% Cu and 1.11 g/t Au from 1,214 metres.