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Dundee PRECIOUS METALS DUNDEE PRECIous Metals ANNOUNCES 2021 FIRST QUARTEr Results ( All monetary figures are expressed in U.S. dollars unless otherwise stated ) - Toronto , Ontario , May 5 , 2021 Dundee Precious Metals Inc. ( TSX : DPM ) ( “ DPM " or the " Company " ) today announced its operating and financial results for the first quarter of 2021 . FIRST QUARTER FINANCIAL AND OPERATING HIGHLIGHTS : - • Solid metals production – Strong operating performance , including record quarterly production at Ada Tepe , contributed to gold production of 70,258 ounces . Copper production was 7.2 million pounds ; Smelter maintenance completed during the quarter – Throughput of 23,009 tonnes of complex concentrate reflects 45 - day maintenance shutdown at Tsumeb completed at the end of March ; • • Chelopech and Ada Tepe deliver strong cost performance - Reported an all - in sustaining cost per ounce of gold ( 1 ) of $ 522 . Cash cost per tonne of complex concentrate smelted ( 1 ) of $ 967 reflects the impact of the maintenance shutdown ; • Chelopech Mineral Reserve Update - As previously announced , mine life at Chelopech was extended to 2029 with the successful addition of 3.9 million tonnes ( " Mt ” ) to Mineral Reserves , which more than offset 2020 production depletion of 2.2 Mt for a net addition of 1.7 Mt ; • Strong free cash flow generation - Generated $ 47.6 million in cash flow from operating activities and $ 51.0 million of free cash flow ( 1 ) ; • • Earnings - Reported net earnings attributable to common shareholders from continuing operations of $ 20.7 million , reflecting the impact of the maintenance shutdown at Tsumeb . Reported adjusted net earnings ( 1 ) of $ 31.0 million or $ 0.17 per share ; Dividends – Declared a second quarter dividend of $ 0.03 per common share payable on July 15 , 2021 to shareholders of record on June 30 , 2021 ; • Growing financial strength - Ended the quarter with $ 175.7 million in cash , an investment portfolio of $ 68.1 million and no debt ; and • 2021 guidance - Ada Tepe and Chelopech on track to meet previously issued 2021 guidance with complex concentrate smelted updated to reflect the extended shutdown , as previously announced . " The first quarter was a solid start to the year as we continued to generate significant free cash flow , driven by record quarterly gold production at Ada Tepe and excellent all - in sustaining cost performance , " said David Rae , President and Chief Executive Officer . " Based on this performance and our outlook for the balance of the year , our mining operations are on track to achieve their 2021 guidance . With the completion of the planned maintenance at Tsumeb during the quarter , we are also expecting stronger smelter performance . "