SHAPING THE FUTURE OF MINING

November, 20181

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Timok Gold Project

Serbia

Tsumeb Smelter

Namibia

Chelopech Mine

Bulgaria

Sabina Gold & Silver Corp.

Nunavut, Canada

Krumovgrad Gold Project

Bulgaria

DPM’s Global Portfolio of Assets

Operating assets

Development asset

Late stage exploration assets

Early stage exploration assets

Exploration JV

ArmeniaKhalkos JV

Val D’or,

Quebec

Chelopech

• Location: Chelopech, Bulgaria

• Ownership: 100%

• 2017 Production: 197,700 oz Au;

35.8 Mlbs Cu

• Mine Life: 9+ years

• Operation: Underground

Krumovgrad

• Location: Southern Bulgaria

• Ownership: 100%

• Stage: Construction

• Production: 103,000 oz (yrs 1-5)

• Mine life: 8 years

• Operation: Open pit

• Commissioning: Q4 2018

Tsumeb

• Location: Tsumeb, Namibia

• Ownership: 100%

• 2017 Concentrate Smelted: 219,000 tonnes

• Operation: Specialty smelter

• Location: Serbia

• Ownership: 100%

• Stage: Advanced exploration

• Resource: 1.72 Moz

Timok Sabina Gold & Silver

• Location: Nunavut, Canada

• Ownership: 10%

• Stage: Permitting

• Production: 240,000 Au (yrs 1-8) (19)

• Operation: Open pit/underground

• DPM’s equity stake: $53 M

Corporate Head Office

Toronto, Canada

19 See footnotes contained in Appendix on slide 38

Sofia

Krumovgrad

Chelopech

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Business Strategy

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Company Overview

Share Price / 52 week low-high (C$ per share) $3.06 / $2.13 - $3.38

Shares Outstanding – Current 178,492,566

Market Capitalization – Current $427 M

P/NAV 0.70x

Metals contained in concentrate produced

Gold

Copper

197,684 oz

35.8 Mlbs

AISC/oz Au (1,2) $729

Adjusted EBITDA $92 M

+ Krumovgrad starting in Q4 2018 + 85,700 oz/yr

Cash $28.8 M

Investment portfolio (@ Feb. 21, 2018) (21) $40 M

Undrawn RCF $252 M

Debt $23 M

2017 Quick Glance Production & Financial Metrics

Dundee Corporation 20.38%

GMT Capital Corporation 11.15%

EBRD 9.9%

Kopernik Global Advisors 3.46%

USAA Asset Mgmt. 3.18%

Low cost

production

with 50%

growth starting

in Q4 2018

Strong

liquidity

position

Long term

shareholders

Deeply

undervalued

1, 2, 21 See footnotes contained in Appendix on slide 38

Share Capital (@ February 28, 2018)

Liquidity Position (@ December 31, 2017)

Top Five Shareholders (@ February 28, 2018)

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Highlights

Strong resource and reserve base

Strong management team

Experienced & motivated workforce, open to change

Compliant with relevant national & international legislation

Pursuing sustainability in all phases of operation

Engaging communities and securing social license to operate

Building on experience, we shape the future of mining

Two companies – one approach

Building on experience and pioneering in innovation Based on values: Dignity and Respect; Transparency,

Continuous Improvement, Environmental responsibility, Safety, Community Investment;

Adhering to law and the requirements of funding institutions throughout all project phases;

Engaging with stakeholders and developing relationships of trust;

Pursuing sustainable development through:

- Care to people and the environment;

- Responsibility and dialogue;

- Partnerships;

Chelopech: Chelopech mine

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Krumovgrad: Ada tepe mine

Two regions – one goal Sustainable SUCCESS

Dundee Precious Metals Chelopech EAD – Chelopech deposit

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A region of developed mining and metallurgy industry;

Well-developed logistics close to administrative centers;

Low unemployment rate and industry skills.

Dundee Precious Metals Krumovgrad EAD – Ada tepe deposit

A region without industry and developed infrastructure;

Project area in Natura 2000 zone;

An area rich in archeology;

High unemployment rates and low industry skills.

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FLAGSHIP ASSET

Chelopech

Location: Chelopech, Bulgaria

Ownership: 100%

2017 Production: 197,700 oz Au; 35.8 Mlbs Cu

Mine Life: 9 + years

Operation: Underground

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Chelopech mine – a century of mining

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405

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Chelopech – Next Phase of Optimization Underway

Change in mining method

0.5 mtpy 1.0 mtpy

Underground crushing and conveying;

“Taking the lid off the mine”

1.0 mtpy 2.0 mtpy

Digital transformation

Phase 1

2003-2008

Phase 2

2009-2014

Phase 3

2015+

- Dynamic mine planning

- Intelligent use of data

- Digital collaboration

- Smart centre

- Automating mining process

2018

2020

2019

Key benefits:

Recovery improvement in 2017

Deep understanding of Reserve base

Optimization of material & asset flow

Improved anticipation of failures

Increase automation

Real time monitoring of performance vs. plan

A show-case of a mine

Invested over 800 mln BGN

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Taking the Lid Off – mine innovation;

Significant mine and mill upgrades;

TMF facility modernization;

Robust employee training programme.

2016 Technology award of Mining Magazine;

Mine of the month – November 2017;

Employers Association Quality award – 2017

Oxford, European Business Association Socrates Best Manager and Best Enterprise award.

Received international recognition

Investing in a better environment for us and the community

Successful reduction of electricity & water use, noise, dust, diesel, etc.

Rehabilitation of over 223 000 м2 on site and surroundings;

TMF field tests – shaping the future of the area;

General site improvements.

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Building on Experience

Investing in mine improvements – investing in community

Create shared benefits by working closely with local government;

Over 23 mln BGN invested in CSR projects in Chelopech, Chavdar and Zlatitsa;

Advance community self-independence – sustainable development projects;

Develop partnerships with NGOs in education, sports, the academia and local business.

Working in a community with long mining history - Chelopech

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NEAR TERM, LOW COST GROWTH

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Krumovgrad

Location: Southern Bulgaria

Ownership: 100%

Stage: Construction

Production: 103,000 oz (yrs 1-5 avg)

Mine life: 8 years

Operation: Open pit

Commissioning: Q4 2018

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Krumovgrad – Project Progress

Milestone Actual/Expected Completion

Construction permit RECEIVED AUGUST 9, 2016

Mobilize earthworks contractor to site and commence earthworks Q4 2016

Commence main civil/mechanical/electrical construction Q3 2017

Commissioning and start up Q3 2018

First concentrate production Q4 2018

Construction capital spent (@ December 31, 2017) $79 million

Percent complete (@ December 31, 2017) 51%

First piece of steel erected onsite

Oct 25Earthworks in the process plant area

Earthworks Progress

Krumovgrad Project FacilityKrumovgrad - Before

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Krumovgrad – Project Progress

Constructing Bulgaria’s

modern open pit mine

- to produce gold/silver

concentrate;

- with modern integrated

mine waste management

facility;

- with care for local

history, archeology and

environment;

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Krumovgrad – Project Progress

201 people employed;

- 90 % of Krumovgrad;

- interest of emigrants to

return;

Krumovgrad - Pioneering in Innovation

Faced us with a number of challenges:

Protected site for habitats - Natura 2000 area Archeological site – Old Thracian Mine Proximity to underground protected water body for drinking water supply Proximity to Greece – transboundary effect NGOs opposition

Developing the first mine in 40 years in an agricultural region

Resulted in a number of innovations: Significantly reduced project area;

Designed Integrated mine waste facility;

EU case study for permit procedure under the Habitat directive;

Memorandum of Understanding, incl. SMEs;

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Building Experience

Investing in stakeholder relations – investing in community

Signed Memorandum of Understanding with Krumovgrad municipality to invest in projects with impact for community;

Launched a training program in May 2017 – “Basics of Mechanical Maintenance”:

Summer internship programme – a channel of recruitment;

Actively inviting and encouraging women to apply for jobs and experience;

Further partnerships with local civil groups and businesses.

Working in a community with no mining history - Krumovgrad

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Investing and promoting local archeology

The most expensive scientific project focused on a single archeological site

"Gold and bronze: metals, technologies and contacts in the Eastern Balkans during the Bronze Age" exhibition 2017 at the National Museum of Archeology;

Natural and extended follow-up of earlier exhibition in Vienna - "The First Gold. Ada Tepe: Europe's Oldest Gold Mine“;

Over 100 000 people visited the exhibition in Vienna;

A successful cooperation between mining business and scientific institutions in the EU.

Ada tepe in the center of a big exhibition

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Our experience and strengths overview

Partnership and understanding

Community Awareness Company/community interests balance

Strong leadership Community Engagement

- Develop a relationship of trust and understanding;

- Attending meetings of the local municipal councils –presenting and discussing with community representatives;

- Working for the interest of community;

- Established 8 Public Consultative Committees

- Respect community concerns and act on them;

- Provide alternatives to local people;

- Ensure training and skills upgrade opportunities;

- Provide opportunities for economic incentives for locals.

• Information centers open to community;

• Dialogue and personal contact;

• Provide information as best convenient to people;

• Exchange visits between sites;

• Rooted in values;

• Abiding by principles;

• Visionary;

• Ensuring working together

- Involve stakeholders at the earliest stage;

- Engage in a meaningful way and show care;

- Develop and grow together;

- Empower community to cater for itself;

TRUST KNOWLEDGE EQUAL OPPORTUNITY VISION TOGETHERNESS

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THANK YOU

TSX:DPM

Iliya Garkov:

Vice President Dundee Precious Metals

General ManagerDundee Precious Metals Chelopech

Dundee Precious Metals Krumovgrad

TSX:DPM

www.dundeeprecious.com

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