DPM Dundee Precious Metals Inc

Dundee Precious Metals Inc. (TSX:DPM)(TSX:DPM.WT.A) (the "Company" or "DPM")
provides an update on the installation of the sulphuric acid plant at its Tsumeb
smelter in Namibia. 


As part of its long term strategy to bring the Tsumeb smelter to internationally
accepted environmental standards and consistent with directives issued by the
Namibian Government, DPM entered into a lump sum turnkey ("LSTK") contract with
Outotec for the engineering, supply, construction and commissioning of a
facility to treat smelter off-gas and produce sulphuric acid. The project is
progressing well with engineering 60% complete, all long lead items purchased
and the earthworks component of construction complete. At this stage, the total
capital cost to complete the acid plant currently under construction, including
owner's costs, is estimated at US$240 million, up from the initial estimate of
US$204 million.


This increase is primarily attributable to higher than expected costs associated
with site preparation including demolition, earthworks excavation, foundation
preparation, larger construction camp infrastructure and related operating
costs, unanticipated expenses relating to the removal of asbestos encountered
during demolition, and a stronger Euro. None of these issues have put the
project schedule at risk and it remains on track for commercial operations and
acid deliveries to commence in the fourth quarter of 2014, as agreed with the
Namibian Government.


"The installation of the acid plant is expected to complete our major
environmental upgrades at the smelter and our obligations to the government,
thereby minimizing the environmental and political risks to the smelter," said
Rick Howes, President and CEO. "In addition, the key aspects of the plant
upgrades which address smelter fugitive emissions are complete and the second
oxygen plant, which allows for increased, cleaner production, is expected to be
producing oxygen by the end of October. We expect that the government will then
be in a position to confirm compliance with its directive and workplace air
quality standards and support a return to full production."


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 copper concentrate containing gold and
silver, located east of Sofia, Bulgaria; the Kapan operation, which produces a
copper concentrate and a zinc concentrate, both containing gold and silver,
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
45.5% interest in Dunav Resources Ltd. and its 12.1% interest in Sabina Gold &
Silver Corp.


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements". Forward-looking
statements are generally identified by the use of words such as "plans",
"expects", or "does not expect", "is expected", "budget", "guidance", "outlook",
"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 and certain professionals as of the
date such statements are made, and on certain assumptions. Forward-looking
statements contained in this news release and other disclosure documents issued
from time to time are typically, but not always, limited to statements with
respect to future production, operating costs, financial liquidity and capital
funding, growth opportunities, capital expenditures, cost and timing to develop
new deposits, conduct exploration activities and receive permits, the price of
gold, copper, zinc and silver, the estimation and realization of mineral
reserves and resources, foreign currency exchange rates, government regulation,
environmental risks, reclamation costs, and the timing and possible outcome of
pending litigation.

By their nature, forward-looking statements are subject to numerous risks,
uncertainties and other factors which may cause actual results, performance or
achievements to be materially different from the future results, performance or
achievements expressed or implied by any forward-looking statement. This
includes, among other things: availability of future growth opportunities;
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; actual price of gold, copper, zinc
and silver; actual foreign exchange rates; plant, equipment or processes
operating as anticipated; accidents, labour disputes and other risks inherent to
the mining industry; delays in obtaining governmental approvals or financing or
in the completion of development or construction activities, as well as those
risk factors discussed or referred to herein and contained in other documents
filed from time to time with the securities regulatory authorities in all
provinces and territories of Canada and available at www.sedar.com. Key
assumptions underlying the revised capital costs for the sulphuric acid plant
project contained in this news release, which may prove to be incorrect,
include, but are not limited to: no changes being made to the scope of the
project, no changes to foreign exchange rates and no additional unforeseen costs
being incurred. These assumptions are subject to a number of risks and
uncertainties, including changes to the scope of the project, changes to foreign
exchange rates and additional unforeseen costs. Although the Company has
attempted to identify important factors that could cause actual results,
performance or achievements to differ materially from those expressed or implied
by any forward-looking statement, there may be other factors. There can be no
assurance that any forward-looking statement will prove to be accurate, as
actual results and future events could differ materially from those expressed or
implied by 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Dundee Precious Metals Inc.
Richard Howes
President & Chief Executive Officer
(416) 365-2836


Dundee Precious Metals Inc.
Lori Beak, Senior Vice President,
Investor & Regulatory Affairs and Corporate Secretary
(416) 365-5165

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