GENERAL PRESENTATION CHELOPECH MINE BULGARIA March 2017 | Chelopech
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, costs of production, capital expenditures, 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 news release 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. 2
Mission and vision Dundee Precious Metals Inc. Mission: We structure and finance, explore, develop and operate our mining assets. We deliver excellence in sustainability and return value to all our stakeholders. Vision: A growing precious metals focused mining company that develops great assets and people. Dundee Precious Metals Chelopech Our Mission : We are an innovative mining company, producing mineral concentrates. Our Vision: To be a world class company; producing efficiently, reliably and safely, with care for people and the environment 3
CHELOPECH MINE BULGARIA Overview 4
Safety – four key concepts Leading by example, walking the talk, demonstrating Felt Leadership care and visibility in the workplace . Not accepting unsafe conditions or acts. No Zero Tolerance exceptions to following legislation and company policies, rules and procedures. Enforcing the rules . Preventing accidents, incidents, property damage Zero Harm and loss to people and to the business . One without the other is not a viable or successful Safe Production business. 5
Safety model Line Ownership Safe Employee Behaviors Employee Involvement Safe Results Leadership Safe Equipment Comprehensive & Workplace Safety Systems Regular Auditing of Safety Systems Leadership is the most important part and drives the rest. 6
OHS statistics Q4 2016 Benchmark: Canada, 35 3,0 per 200,000 man hours (Ontario all mines: 0.9) 30 2,5 number of LTIs / MTIs LTI (FR) and TRI (FR) 29 25 2,0 25 20 1,19 20 1,5 Number of 15 Year personnel 1,0 10 11 0,48 9 0,00 0,00 2011 1 052 8 0,5 5 7 7 5 5 0,096 4 1 1 3 2 2 2 0 1 1 3 0 0 0 0 0 4 1 2012 1 008 0 0,0 2013 951 2011 2012 2013 2014 2015 2016 Q2' Q3' Q4' Q1' Q2' Q3' Q4' 2016 15 15 15 16 16 16 16 YTD 2014 938 2015 979 MTIs LTIs LTIs (FR) TRIs (FR) 2016 914 7
Golden rules 8
CHELOPECH MINE North site Chelopech village Rail way Road to Sofia Kachulka dam South site • The Mining License covers an area Tailings management facility of 266 hectares and includes the N DPM Chelopech operation and its immediate surroundings. • The Company owns the land upon which the facilities are constructed. W E • The operation was acquired by Dundee Precious Metals in 2003. S 9 Chavdar village
Chelopech mine overview 405 10
Chelopech long section Zapad Iztok shaft Kapitalna shaft shaft Sever shaft 405 11
Chelopech gold/copper mine The mine produces approximately 120,000 ounces of gold and 18,000 tonnes of copper per annum in a high arsenic concentrate grading approximately 16.5% copper and approximately 30 g/t gold. Following commissioning of the pyrite recovery circuit in March 2014 the operation produces pyrite concentrate grading approximately 6.5 g/t gold – approximately 50,000 ounces of gold. Since acquisition mine and mill production increased almost 4 times to 2,200,000 tones per year. 2,212,340 Ore processed 2,076,112 2,052,138 2,032,002 1,819,687 2500000 1,353,733 2000000 1,000,781 980,928 920,150 911,179 906,070 911,381 1500000 tons 624,310 1000000 500000 0 12
Mine expansion Upgrades to existing site infrastructure and process facilities to meet the increased production targets of 2 mtpa, broadly defined by: • Installation of an underground crushing/ore handling system • Upgrade of the mine ventilation system to allow for increased utilization of mobile equipment • Upgrades to Process Plant installation of SAG mill, additional flotation capacity, upgrade of tailings facility and water recovery • Construction of Paste Fill Plant and underground reticulation system • Run-of-Mine pad crushed ore stockpile and mill feed system 13
Production capacity enhancements • Mining Method 2004 -2005 • Nadejda Decline 2007 • Paste fill plant 2010 • SAG mill and upgraded flotation 2011 • Sever fan installation 2011 • Vyara decline - 2011 • Filter press 2011 • U/g crusher and conveyors 2012 • Surface stockpile 2012 • Scats return system 2013 • Copper circuit SFRs 2013 • Pyrite Circuit 2014 14
TAILINGS MANAGEMENT FACILITY - General View Main equipment: • main tailings pipe length 2600 m • HDPE pipes, Ø 315 • tailings distribution pipeline Main embankment • combined type embankment • currently 70 meters in height (elevation 620) Drainage system • drainage gallery • old collector • seepage pump station External Monitoring External drainage system • two retention walls • Annual Commission according BG • cut-off drain channel regulations(Collaborative protocol with conclusion and recommendation); Control and measuring system • Quarterly and annual monitoring data report - • 32 pcs. piezometers international company; • 33 pcs. control marks (CM) • 14 pcs. observation posts (OP) 15
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