A L A LOW-COST COST GO GOLD LD PR PROD ODUC UCER ER - PowerPoint PPT Presentation

A L A LOW-COST COST GO GOLD LD PR PROD ODUC UCER ER INVESTOR PRESENTATION December 2015

FORWARD LOOKING STATEMENTS 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 and other metals, 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; 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 industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, fluctuations in metal prices, 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. TSX:DPM 2

THE DPM INVESTMENT OPPORTUNITY Increasing Payable AuEq (Koz) 16, 17 424 306 High Quality Assets with Further ~269 Potential 2015F 2018F 2020F Commodity and Geographic Diversification Increasing Concentrate Smelted (Kt) 17 370 240 190 – 200 Solid Financial Position 2015F 2018F 2020F Pipeline of Organic Growth P / 2015E CFPS P / NAV Opportunities (Consensus Estimates) * (Consensus Estimates) * Average: 5.1x Average: 0.5x Experienced Management Team and 1.8x Board with Strong Track Record 0.2x 16, 17 See footnotes contained in Appendix on slide 24. * Source: Capital IQ as at November 5, 2015. TSX:DPM 3

DPM OVERVIEW Share Capital @ January 5, 2016 Available Liquidity Share Price (C$ per share) $1.31 Cash $17.5M Shares Outstanding – Current 140M Undrawn RCF As of Sept. 30, 2015 $165M Market Capitalization – Current C$183M 52 week low – high (C$ per share) $1.14 – $3.76 Analyst Coverage Major Shareholders Firm Analyst BMO **In transition** Dundee Corporation 25.23% CIBC World Markets Leon Esterhuizen GMT Capital 10.28% Cormark Securities **In transition** Van Eck Associates 4.45% Dundee Securities Josh Wolfson GMP Securities Oliver Turner J.P Morgan Asset Mgmt. (UK) 4.29% Paradigm Capital Don MacLean Raymond James **In transition** USAA Asset Mgmt. 4.06% RBC Capital Markets Sam Crittenden Scotia Capital Trevor Turnbull TSX:DPM 4

DPM’S GLOBAL PORTFOLIO OF ASSETS Chelopech Mine, Bulgaria Tsumeb Smelter, Namibia Kapan Mine, Armenia • Ownership: 100% • Ownership: 100% • Ownership: 100% • Stage: Producing • Stage: Producing • Stage: Expanding • Mine Life: 10 + years • Technology: Ausmelt • Mine Life: 9 + years • 2014 Production: 151 koz Au 1 ; • 2014 Concentrate Smelted: • 2014 Production: 21 koz Au; 44.3 Mlbs Cu 198,346 tonnes 2.1 Mlbs Cu Krumovgrad Project, Bulgaria • Ownership: 100% • Stage: Detailed Design Chelopech 100% • Mine Life: 8 years • Production: H2 2018 Krumovgrad 100% Avala 50.14% 6 • Avg. Production: 85.7 koz Au/yr Kapan 100% Sabina 12% Tsumeb Smelter 100% Operating assets Development assets Exploration assets 1, 6 See footnotes contained in Appendix on slide 24. TSX:DPM 5

DIVERSE PORTFOLIO OF ASSETS IN PRO MINING JURISDICTIONS 2015F Revenue Diversification Sept 2015 Asset Diversification • Credit Rating: Baa2 ( Moody’s), BBB - (Fitch), BB+ (S&P) • Corporate Tax Rate: 10% • GDP Forecast: +2.0% in 2015, +2.5% in 2016 (IMF) • Overview: − Bulgaria is a member of the European Union (since Smelter 2007) 21% Silver − Mining industry has grown significantly since 1998 and Gold and currently employs ~120,000 Bulgarians in the country 48% Bulgaria is the 4 th largest gold producer and 6 th largest − Zinc coal producer in Europe 6% Copper 25% • Credit Rating: Baa3 ( Moody’s ), BBB- (Fitch), NR (S&P) • Corporate Tax Rate: 0% as Tsumeb has been granted Export Processing Zone status • GDP Forecast: +4.5% in 2015, +4.6% in 2016 (IMF) 4 2015F EBIDTA Generation • Overview: Bulgaria Namibia − Ranked as Africa’s most attractive country on Fraser 44% Institute’s Investment Attractiveness Index (ranked #10 45% globally) Tsumeb World’s 5 th largest producer of uranium and 9 th largest − 6% producer of diamonds Armenia − Mining companies in the country include Glencore, Rio Kapan 12% Tinto, Anglo American, Paladin Energy, etc. 6% • Credit Rating: Ba3 ( Moody’s ), B+ (Fitch), NR (S&P) Chelopech • Corporate Tax Rate: 20% 88% • GDP Forecast: +3.5% in 2015, +3.7% in 2016 (IMF) 4 See footnote contained in Appendix on slide 24. TSX:DPM 6

LOW-COST GOLD PRODUCER WITH PROVEN OPERATING TRACK RECORD 2015 Estimated Au All-In Sustaining Costs ($/oz) * 5, 7, 8, 9 $1,250 $1,000 Average = $872 $650-$750 $750 $500 DPM Alacer New Gold Alamos Primero 4, 5, 7, 8, 9 See footnotes contained in Appendix on slide 24. * Source: Company midpoints of all-in sustaining cost per ounce of gold costs provided in Q3 2015 quarter reporting guidance except Alamos which is based on Q2 IR deck. TSX:DPM 7

FOCUS ON BECOMING A MID TIER GOLD PRODUCER Optimize Existing Operations • Tsumeb smelter Kapan • Increase margins through higher throughput and Underground cost improvements • Mining operations • Extend life of existing mines through exploration • Pursue margin/cost improvement opportunities • Deliver sustained operating improvements at Newly Kapan to support underground expansion commissioned acid plant at Tsumeb Execute New Growth Projects • Build Krumovgrad Gold Project Establish Growth Pipeline Through Exploration and M&A Conceptual • Generate brownfield and greenfield exploration opportunities Illustration of Krumovgrad Gold Project Maintain a Solid Balance Sheet and Low-Cost Position TSX:DPM 8

2015 YTD ACCOMPLISHMENTS  DPM remains below the industry average with respect to all-in sustaining cost per ounce Consolidated of gold  Continued to generate additional gold recovery with the implementation of our Pyrite Recovery Project Chelopech  Unit cash cost per tonne of ore mined continues to decrease with our ongoing optimization program  Acid plant commissioning complete; Commercial deliveries of acid commenced in the second half of August in accordance with long term off take agreements Tsumeb  New copper converters scheduled to be commissioned in Q1 2016  Conducting a pre-feasibility study for the next phase of expansion to potentially increase capacity to as much as 370,000 tpa  Achieved key milestones related to the Krumovgrad permitting process (main detailed Krumovgrad development plan was approved by the Krumovgrad Municipal Council) with construction permit expected in H1 2016 and construction commencing mid 2016  In-mine exploration programs continue to replace the depleted Chelopech reserves Exploration  At Chelopech mine, secured the larger Brevene license that surrounds the Sveta Petka License TSX:DPM 9