Dundee Precious Metals Strengthens Senior Management Team

The board of directors of Dundee Precious Metals Inc. (TSX:DPM)(TSX:DPM.WT.A)
("DPM" or the "Company") is pleased to announce the following senior management
appointments. 


David Rae has been appointed to the role of Executive Vice President and Chief
Operating Officer for DPM. Since joining the Company in 2012, David has been
leading the work to achieve operating excellence by implementing our DPM
management operating model at all of our current operations to ensure we deliver
safely and reliably against our commitments. He was previously Senior Vice
President, Operations of DPM. He is a seasoned international mining and smelting
executive with extensive experience in Africa, Europe and Canada and has held
increasingly senior operating and executive roles with international mining
companies, including Falconbridge, Xstrata and Andean American. 


John Lindsay has recently joined the Company as Senior Vice President, Projects.
He is a Professional Engineer with over 30 years of experience with companies
such as Barrick, SNC-Lavalin and AMEC. John will have oversight accountability
on all capital projects and direct line accountability for major growth and
strategic projects. He will ensure we safely and predictably deliver our key
project outcomes through a robust project delivery framework and governance
structure. 


Brent Johnson has been appointed Vice President, Environment. In his new role,
he will be providing direction and support to ensure consistent application of
best practice environmental engineering, systems and management, stewardship and
health systems across the business. Before joining DPM in Tsumeb, Namibia as
Environment Manager in 2010, Brent spent 15 years working extensively in Africa
as an environmental professional in the extractive industries. 


"We are focused on further strengthening our management team to ensure we can
reliably deliver on our strategy and performance targets," said Rick Howes,
President and CEO. "David has shown excellent leadership in achieving safe
production and improving the capability of our operating teams to deliver on our
performance targets and improvements. I am also extremely pleased to have John
Lindsay join us, as he brings to our team deep project management skill and
experience developed in a variety of large scale international mining projects.
Brent has provided strong leadership on a variety of key initiatives at the
smelter and we look forward to his continuing contribution at the corporate
level." Howes summarized by noting that, "it is through optimizing our existing
assets and successfully executing on our growth projects that DPM will become a
premier, low cost gold producer."


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 press 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, copper, zinc
and silver, the estimation of mineral reserves and resources, the realization of
such 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, reclamation expenses, the
potential or anticipated outcome of title disputes or claims 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 that 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, 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; fluctuations in metal prices; unanticipated title
disputes; claims or litigation; limitation on insurance coverage; as well as
those risk factors discussed or referred to in the Company's MD&A under the
heading "Risks and Uncertainties" and under the heading "Cautionary Note
Regarding Forward-Looking Statements" which include further details on material
assumptions used to develop such forward-looking statements and material risk
factors that could cause actual results to differ materially from
forward-looking statements, and other documents (including without limitation
the Company's 2013 AIF) 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. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Dundee Precious Metals Inc.
Rick Howes
President and Chief Executive Officer
[phone]
[e-mail]


Dundee Precious Metals Inc.
Lori Beak
Senior Vice President, Investor & Regulatory Affairs and
Corporate Secretary
[phone]
[e-mail]