GROWTH OPTIMIZATION INNOVATION PEOPLE

Bulgaria Brownfields Exploration: Chelopech

DPM Exploration

April 6, 2017

Chelopech

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This presentation contains “forward looking information” or "forward looking statements" that involve a number of risks and uncertainties.

Forward looking information and forward looking statements include, but are not limited to, statements with respect to the future prices of

gold, copper and acid, toll rates, metals exposure and stockpile interest rate deductions, the estimation of mineral reserves and resources,

the realization of mineral estimates, the timing and amount of estimated future production and output, costs of production, capital

expenditures (including sustaining capex, non-discretionary capex and discretionary capex), 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, unanticipated reclamation expenses, title disputes or claims, limitations on insurance

coverage 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 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 and acid; 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

and smelting industries; delays in obtaining governmental approvals or financing or in the completion of development or construction

activities, fluctuations in metal prices and toll rates, as well as those risk factors discussed or referred to in this presentation under and in

the Company’s annual information form under the heading "Risk Factors" and other documents filed from time to time with the securities

regulatory authorities in all provinces and territories of Canada and available at www.sedar.com. Although the Company has attempted to

identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking

statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. 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. Accordingly, readers are cautioned not to place undue reliance on forward looking statements.

Forward Looking Statements

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Chelopech – District Geological Setting

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Chelopech - Exploration

Chelopech Project:

NW Bulgaria (east of Sofia): 2 exploration tenements and 1 mining concession

High-sulphidation Cu-Au

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Hole 555-01 Southeast Breccia Pipe • First of 7 UG holes commenced in September 2016

• Confirms HSE system is open to southeast beneath the

Chelopech Thrust Fault

Chelopech – Brownfields ExplorationBrevene Exploration License

• Granted on September 1, 2016

• Comprehensive work program approved by MOE

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Chelopech: Diatreme & Mineralization Types

Simplified N-S section (looking to E) through the Vozdol-Petrovden-Chelopech area, showing the distribution

patterns of selected ore-related metals.

Petrovden porphyry min.

(potassic, phyllic alt.)

Vozdol & wedge areas

Pb-Zn-Ag-Au veinsChelopech HS ore bodies

Diorit

e

Coherent diorite country rock

Metamorphic basement

Diatreme brecciaSE Breccia

PipeGranodiorite

Tur.

sandstone

Post-mineral epiclastics

Diorite

RAB

2MS

LIM

SFL

Mo-Cu-Au

(±Bi, Te)

Cu-Au-Sb-

As-Te-BiCu-Au-Sb-

As-Te-Bi

Zn-Pb-Ag-

Au-Mn

Zn-Pb-Ag-

Au-Mn

Zn-Pb-Ag-

Au-Mn

N SMn-Pb-Zn-Ag±Au

Mo-Cu-Bi-Te±AuCu-As>Au-Sb-Ag

Au-Sb-Ag>Cu-As

Mn-Zn-Pb-Bi-Te

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Chelopech Au-Cu MineralizationOre Mineralization

Stockwork, vein and disseminated

type of ore are most common among

the different types breccia and among

intrusive bodies.

Ore Minerals

Py, Tn, En-Luz, Au, Cpy & Bn with

late stage Sp/Ga

Orebodies Morphology

Columnar pipe like bodies that

typically plunge steeply towards the S

& SE.

Alteration

Advanced argillic zone with “vuggy” silica and massive silica localities with quartz, dickite, kaolinite, pyrite, pyrophillite and alunite

Sericitic zone, characterized with quartz, sericite, illite, kaolinite, pyrite, rutile ± APS minerals;

Propylitic zone, composed of quartz, albite, calcite, chlorite, pyrite, sericite and epidote.

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Chelopech Au-Cu Mineralization: New Geology Model

• It is interpreted that Chelopech deposit was formed in shallow intrusive setting, related to phreato-

magmatic breccias which formed a maar-diatreme and numerous blind breccia-pipe structures.

Drillcore PTDD020: m 873-888

Tuffisite

Pipe boundary

Marginal fluidization

structure

Fluidization structure

Matrix-supported

pipe breccia with wispy

juvenile clasts

Dispersed and

abraded country

rock clasts

Flow channel

Coherent diorite country rock

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Chelopech – 2017 Near Mine Exploration

Purpose – Add to copper and gold resources, extend LOM

• Completion of the remaining 2,000m of underground drilling (Q1 – Q2, 2017) to evaluate and report on the copper-gold potential along the Southeast Breccia Pipe Zone (SEBPZ).

• Commencement of the first stage of surface exploration on the Brevene and Sveta Petka exploration licenses (i.e. geological mapping, rock chip sampling, soil sampling and ground magnetics) to determine prospective Au-Cu areas (Q2 - Q3) to follow up for surface drill testing (Q3 - Q4) and;

• Implement and complete 3,000m of surface drilling to test prospective Au-Cu surface target areas within the Brevene, Sveta Petka and Chelopech (i.e. including Sharlo Dere) exploration licenses (Q2 - Q4 2017).

• Apply for additional exploration licenses covering prospective copper-gold areas surrounding the existing DPM Chelopech mining and exploration assets to help secure a long-term ground position to test for additional resources.

Chelopech Mine, Bulgaria

THANK YOU

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Corporate Head Office:

One Adelaide Street East, Suite 500

Toronto, Ontario, M5C 2V9

T: 416 365-5191

Investor Relations

T: 416 365-2549

jreid@dundeeprecious.com

TSX:DPM

www.dundeeprecious.com