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NEWS RELEASE Release Date : Contact : May 6 , 2021 Martye Miller Dorchester Minerals , L.P. 3838 Oak Lawn Ave. , Suite 300 Dallas , Texas 75219-4541 ( 214 ) 559-0300 Exhibit 99.1 Dorchester Minerals , L.P. Announces First Quarter Results and the Acquisition of Royalty Properties DALLAS , TEXAS -- Dorchester Minerals , L.P. ( the “ Partnership ” ) ( NASDAQ - DMLP ) announced today the Partnership's net income for the quarter ended March 31 , 2021 of $ 11,801,000 , or $ 0.33 per common unit . A comparison of the Partnership's consolidated results for the quarter ended March 31 , 2021 and 2020 are set forth below : Operating Revenues Net Income Net Income Per Common Unit Three Months Ended March 31 , $ $ $ 2021 17,789,000 $ 11,801,000 $ 0.33 $ 2020 15,476,000 8,761,000 0.25 The Partnership previously declared its first quarter distribution in the amount of $ 0.303441 per common unit payable on May 13 , 2021 to common unit holders of record as of May 3 , 2021. The Partnership's cash distributions are not comparable to its net earnings due to timing and other differences including depletion . On April 30 , 2021 , the Partnership entered into a contribution and exchange agreement with an unrelated third party to acquire overriding royalty interests in the Bakken Trend totaling approximately 6,400 net royalty acres under 63,000 gross acres in Dunn , McKenzie , McLean and Mountrail Counties , North Dakota . The transaction is structured as a non - taxable contribution and exchange . The contributing entity will convey their interests to DMLP in exchange for 725,000 common limited partnership units of Dorchester Minerals , L.P. The acquisition is expected to close on June 30 , 2021 , subject to customary closing conditions , with a cash receipt reference date of April 1 , 2021 . Dorchester Minerals , L.P. is a Dallas based owner of producing and non - producing oil and natural gas mineral , royalty , overriding royalty , net profits , and leasehold interests located in 26 states . Its common units trade on the NASDAQ Global Select Market under the symbol DMLP . FORWARD - LOOKING STATEMENTS Portions of this document may constitute " forward - looking statements " as defined by federal law . Such statements are subject to certain risks , uncertainties and assumptions . Should one or more of these risks or uncertainties materialize , or should underlying assumptions prove incorrect , actual results may vary materially from those anticipated , estimated or projected . Examples of such uncertainties and risk factors include , but are not limited to , changes in the price or demand for oil and natural gas , changes in the operations on or development of the Partnership's properties , changes in economic and industry conditions and changes in regulatory requirements ( including changes in environmental requirements ) and the Partnership's financial position , business strategy and other plans and objectives for future operations . These and other factors are set forth in the Partnership's filings with the Securities and Exchange Commission .