Dundee Mines Ltd.: Extension of Historic Precious/Base Metals Workings Indicated in New Drill Results

Dundee Mines Limited (TSX VENTURE:DUN) reported today encouraging results from
its Phase II drill program on its wholly-owned Yankee-Dundee property located
three kilometres northeast of Ymir, in southeastern British Columbia, where
significant polymetallic mineralization was returned from four holes.


Highlights from the program include a 6.72 metre interval grading 4.6g/t Au,
46.5g/t Ag, 1.2% Pb and 3.4% Zn from hole YD07-15 and a 0.70 metre intercept
from drill hole YD07-16 grading 12.3g/t Au and 53.0g/t Ag, 1.3% Pb and 3.6% Zn
within a broader 8.68 metre interval of 2.0g/t Au and 8.9g/t Ag. All intervals
are reported as estimated true thickness.


The intervals of mineralization from holes YD07-15 and YD07-16 represent a 247
metre step-out from the main Yankee Girl workings and may be an extension of a
largely undeveloped ore-shoot. The mineralized intercept in hole YD07-16 is a 57
metre down-dip offset from hole YD07-15 and reflects a persistence of grade and
width with increasing depth along this projection of the Yankee Girl vein. The
veins are characterized by alternating bands, up to 45cm thick, of quartz vein,
breccia and semi-massive to massive pyrite and associated base-metal sulphides
(mainly sphalerite and galena).


The early winter exploration program comprised 1,191 metres of core drilling in
eight drill holes which tested three near surface vein targets including the
western extensions of the Yankee Girl vein and the Dundee vein as well as the
northerly-trending Atlin vein, which strikes obliquely to the predominant
east-west trend of the main vein system. Several of the drill intercepts contain
significant base-metals.


Select assays from the Phase II drilling include:



---------------------------------------------------------------
                      Survey Data                   Collar Data
                      -----------                   -----------
                      Coordinates            AZ     DIP   Depth
                      -----------            ------------------
Hole #       UTME     UTMN   Elev           Deg     Deg      (m)
---------------------------------------------------------------
YD07-11    486485  5459977   1417           120     -45   61.26
---------------------------------------------------------------
YD07-14    486410  5459781   1384           128     -45  151.14
---------------------------------------------------------------
YD07-15    486527  5459773   1419           128     -45  199.95
                                                            inc
---------------------------------------------------------------
YD07-16    486527  5459773   1419           128     -60  212.14
                                                            inc
---------------------------------------------------------------
YD07-17    486469  5459430   1281           120     -45  150.30
                                                            inc
---------------------------------------------------------------

-----------------------------------------------------------------
                                       Est.
Hole #     From      To   Interval     True    Au    Ag   Pb   Zn
              m       m          m  Thcknss   g/t   g/t    %    %
-----------------------------------------------------------------
YD07-11   26.58   28.06       1.48     1.38   7.5  59.9  0.4  0.1
-----------------------------------------------------------------
YD07-14  101.50  109.00       7.50     6.90   0.6   5.2  0.1  0.1
-----------------------------------------------------------------
YD07-15  162.70  170.00       7.30     6.72   4.6  46.5  1.2  3.4
         164.24  166.00       1.76     1.62   8.1  74.7  0.8  6.1
-----------------------------------------------------------------
YD07-16  175.56  185.00       9.44     8.68   2.0   8.9  0.3  0.8
         179.66  180.42       0.76     0.70  12.3  53.0  1.3  3.6
YD07-17   90.52   92.96       2.44     2.00   2.3  10.5  0.8  1.7
          91.94   92.40       0.46     0.38   9.9   8.6  0.3  0.3
-----------------------------------------------------------------

Analyzed by FA- AAS and ICP by IPL Labratories, Richmond, BC
Overlimits Analyzed by FA-Grav and MuAICP by IPL Laboratories, Richmond, BC



These results complement Phase I drilling on the property (completed in July
2007) which successfully tested portions of the Yankee-Girl vein and returned
several anomalous intervals including 6.01g/t Au over 1.54 metres and 5.17/t Au
over 1.23 metres.


The company also reported that it completed an approximately 600 line-kilometre
Airborne DIGHEM EM / Magnetic survey over the property in late January. The
survey covers the southern 2/3 of the property and is expected to assist in
tracing on-strike extensions and potential cross veins and offsetting
structures.


Dundee continues data compilation and interpretation of the drill results and
the newly acquired geophysics. An expanded 2008 exploration program to include
up to 3,000 metres of core drilling will continue with systematic step-outs
along the known mineralized zones and identify and test additional targets of
high exploration potential through this complex but well-endowed set of
mineralized veins.


Yankee-Dundee Project

The Yankee-Dundee project comprises 26 Crown Grants and 119 mineral claims
totaling 4,562 hectares, which are located three kilometres northeast of the
town of Ymir in southern British Columbia. Gold mineralization was first
reported near Ymir in the late 1800s, with much of the mining taking place at
the Yankee Girl, Dundee and Ymir mines during the period 1907 to 1951.
Historical records indicate that a total of 375,000 tonnes grading 9.9g/t Au and
57g/t Ag were mined from the Yankee Girl vein during this time. Exploration by
the company is targeting high-grade Au-quartz veins throughout the Ymir district
which historically, together with the adjacent Sheep Creek district is reported
to have produced more than 1 million ounces of Au(1).


Rob Macdonald, (P.Geo.), is the Qualified Person responsible for reviewing the
technical results reported in this release.


On behalf of the Board of Directors,

Lawrence Page, Q.C., President, Director Dundee Mines Ltd.

(1) Production data from the Ymir and Sheep Creek districts was obtained from
historical government records and has not been independently verified by the
current operators of the project.


This News Release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements. Dundee Mines Ltd. relies upon litigation protection for forward
looking statements.