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Dundee PRECIOUS METALS DUNDEE PRECIOUS METALS ANNOUNCES 2021 SECOND QUARTER RESULTS ; DELIVERED RECORD QUARTERLY GOLD PRODUCTION AND GENERATED RECORD FINANCIAL RESULTS ( All monetary figures are expressed in U.S. dollars unless otherwise stated ) Toronto , Ontario , July 29 , 2021 - Dundee Precious Metals Inc. ( TSX : DPM ) ( " DPM " or the " Company " ) today announced its operating and financial results for the second quarter of 2021. All operational and financial information contained in this news release are related to continuing operations , unless otherwise stated . SECOND QUARTER FINANCIAL AND OPERATING HIGHLIGHTS : • Record gold production - Achieved record quarterly gold production of 85,128 ounces . Copper production was 10.0 million pounds ; • • • • Solid smelter performance – Throughput of 59,627 tonnes of complex concentrate ; - Strong cost performance at all operations - Reported an all - in sustaining cost per ounce of gold ( 1 ) of $ 605 and a cash cost per tonne of complex concentrate smelted ( 1 ) of $ 400 , both below the low - end of 2021 guidance ; Record quarterly free cash flow generation - Generated $ 75.7 million in cash flow from operating activities and a record $ 67.1 million of free cash flow ( 1 ) ; Record quarterly earnings - Reported record net earnings attributable to common shareholders from continuing operations of $ 67.5 million and adjusted net earnings ( 1 ) of $ 67.1 million or $ 0.37 per share ; Dividends - Declared third quarter dividend of $ 0.03 per common share payable on October 15 , 2021 to shareholders of record on September 30 , 2021 ; • Sale of MineRP - Closed sale of MineRP Holdings Inc. ( “ MineRP ” ) bringing in cash proceeds of $ 45.8 million ; • Acquisition of INV – Announced acquisition of INV Metals Inc. ( “ INV ” ) adding the Loma Larga gold project , an attractive development project in Ecuador , to the Company ; • Growing financial strength - Ended the quarter with $ 260.5 million in cash and an undrawn $ 150 million long - term revolving credit facility ( " RCF " ) , as well as an investment portfolio of $ 76.9 million and no debt ; and • 2021 guidance - On track to meet previously issued 2021 guidance at all operations . " We delivered exceptional performance at our mines in the second quarter , achieving record gold production and impressive all - in sustaining cost performance . Our strong operating results generated record net earnings and free cash flow , " said David Rae , President and Chief Executive Officer . “ Earlier this week , we completed the acquisition of the Loma Larga gold project , adding a high - quality , advanced stage gold asset to our development pipeline with the potential to generate meaningful production growth and significant value . " “ Our strong gold production profile and significant free cash flow generation , combined with our operating track record and unique skills in innovation and building partnerships with local communities , positions DPM very well to continue delivering value for all stakeholders . " 1