PDAC CONFERENCE

March 4-7, 2018

Krumovgrad Gold Project

December 2017

DPM – AN INNOVATIVE, GROWING GOLD PRODUCER

TSX:DPM

2

Forward Looking Statements

Certain statements and other information included in this presentation and our other disclosure documents constitute “forward looking information” or

“forward looking statements” within the meaning of applicable securities legislation, which we refer to collectively hereinafter as “forward looking

statements”. Our forward looking statements include, but are not limited to, statements with respect to the estimated capital costs, operating costs and

other project economics with respect to Krumovgrad; timing of development, permitting, construction, commissioning activities and commencement of

production in respect of Krumovgrad; timing of further optimization work at Tsumeb and potential benefits of the rotary furnace installation; price of gold,

copper, silver and acid; toll rates; metals exposure and stockpile interest deductions; the estimation of Mineral Reserves and Mineral Resources and the

realization of such mineral estimates; timing and amount of estimated future production and output, life of mine, costs of production, cash costs and other

cost measures, capital expenditures and timing of the development of new deposits; results of economic studies; success of exploration activities; success

of permitting activities; permitting time lines; currency fluctuations; requirements for additional capital; government regulation of mining and smelting

operations; success of permitting activities; environmental risks; reclamation expenses; potential or anticipated outcome of title disputes or claims; and

timing and possible outcome of pending litigation. Forward looking statements are statements that are not historical facts and are generally, but not

always, identified by the use of forward looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, scheduled”,

“estimates”, “forecasts”, “outlook”, “intends”, “anticipates”, or “does not anticipate”, or “believes”, or variations of such words and phrases or that 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. In addition to factors

already discussed in this presentation, such factors include, among others: the uncertainties with respect to actual results of current exploration

activities, actual results of current reclamation activities, conclusions of economic evaluations and economic studies; changes in project parameters as

plans continue to be refined; 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; uncertainties inherent with conducting business in foreign jurisdictions where corruption, civil unrest, political

instability and uncertainties with the rule of law may impact the Company’s activities; fluctuations in metal and acid prices, toll rates and foreign

exchange rates; unanticipated title disputes; claims or litigation; limitation on insurance coverage; cyber attacks; failure to realize projected financial

results from MineRP; risks related to operating a technology business reliant on the ownership, protection and ongoing development of key intellectual

properties; as well as those risk factors discussed or referred to in any other documents (including without limitation the Company’s most recent AIF)

filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available on SEDAR 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. Unless required by securities laws, the Company undertakes no obligation to update forward looking statements if

circumstances or management’s estimates or opinion should change. Accordingly, readers are cautioned not to place undue reliance on forward looking

statements.

TSX:DPM

3

Investment Highlights

Operating in mining friendly jurisdictions

Strong resource and reserve base

High quality, low cost, flagship asset

Near term, low cost growth in gold production

Growing exploration pipeline

Strong balance sheet

Strong management team

Deeply undervalued

Strong Asset Base, Near Term Growth & Deeply Undervalued

TSX:DPM

4

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)

TSX:DPM

5

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

Malartic JV

Quebec, Canada

Chelopech

• Location: Chelopech, Bulgaria

• Ownership: 100%

• 2017 Production: 197,684 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 avg)

• 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: Pre-construction

• Production: 240,000 Au (yrs 1-8) (18)

• Operation: Open pit/underground

• DPM’s equity stake: $40 M

Corporate Head Office

Toronto, Canada

18 See footnotes contained in Appendix on slide 38

TSX:DPM

6

Bulgaria… • Overview:

• Uninterrupted operations since 2003

• Member of the EU since 2007

• 4th largest gold producer in Europe

• Stable regulatory environment & government

• Corporate Tax Rate: 10%

• Chelopech Royalty Rate: 1.5% of gross Cu, Au and Ag

• Krumovgrad Royalty Rate: sliding scale between 1%

and 4% of gross value

• GDP Forecast: +2.8% in 2017 (IMF)

• Mining industry forms 5% of the GDP (2016)

Namibia…• Overview:

• Political party stability

• 5th largest producer of uranium and 9th largest producer of

diamonds

• Ranked in top 10 as Africa’s most attractive countries over last

5 years according to the Fraser Institute

• Glencore, Rio Tinto, Anglo American, Paladin Energy, etc.

• Corporate Tax Rate: 0% (Export Processing Zone status)

• GDP Forecast: +5.3% in 2017 (IMF)

• Mining industry forms 11.5% of the GDP (Jan. 2017)

Serbia…• Overview:

• EU candidate since 2012

• 3rd largest copper producer in Europe

• Industry benefits from high level government support

• Corporate Tax Rate: 15%

• GDP Forecast: +3.0% in 2017 (IMF)

• Mining industry forms 2% of the GDP (2013)

Operating in Mining Friendly Jurisdictions

TSX:DPM

7

Strong Mineral Resource and Reserve Base

2.0 Moz

0.8 Moz

Proven and probable

Total Gold Ounces

Proven and Probable

Total Copper

1.4 Moz 0.01 Moz

1.7 Moz

3.8 Moz

Measured & Indicated Inferred

Total Gold Ounces

2.8 Moz

398 Mlbs

Measured & Indicated Inferred

Total Copper

2.8 Bnlbs

301 Mlbs

Krumovgrad

ChelopechChelopech

TimokKrumovgrad

Chelopech

Chelopech

3.1 Moz

0.14 Moz

Chelopech

Tulare

Tulare

2.8 Bnlbs

37 Mlbs

4.0 Moz

3, 4, 5, A. See footnotes contained in Appendix on slides 38 & 39

TOTAL MINERAL RESERVES (3,5,A)

TOTAL MINERAL RESOURCES (4,5,A)

Exclusive of Reserves

As of December 31, 2016 As of December 31, 2016

TSX:DPM8

HIGH QUALITY, LOW COST, FLAGSHIP ASSET

Chelopech

Location: Chelopech, Bulgaria

Ownership: 100%

2017 Production: 197,684 oz Au; 35.8 Mlbs Cu

Mine Life: 9 years

Operation: Underground

TSX:DPM

9

57

133

196

153

118

9987

108

0

300

600

900

1200

1500

1800

0

50

100

150

200

250

2010 2011 2012 2013 2014 2015 2016 2017

Cash Cost / tonne of ore processed (US$/t) (6) Ore Mined (Mt)

1.09

1.31

1.812.03 2.05 2.04

2.21 2.22

2010 2011 2012 2013 2014 2015 2016 2017 2018E

56 55

4640 40

3733 34

2010 2011 2012 2013 2014 2015 2016 2017 2018E

Adjusted EBITDA (US$M) (7)

2006 2015 2016

21.5 21.5

14.1 Total ore

mined

since 2006 (Mt)

Ore Reserve (Mt)

16.3

19.8

Gold price trend

Growing throughput in recent years with

opportunity to optimize further

Continuing to optimize through innovation

2018E slightly higher due to FX

Stronger EBITDA due to grades & metal prices Exploration successful in replacing reserves

6, 7, 9 See footnotes contained in Appendix on slide 38

Copper price trend (AuEq)

Chelopech – Continually Improving

2.1-2.2

37-40

9 9

TSX:DPM

10

139

172 140-170

2016 2017 2018E

Chelopech Highlights

Payable gold in concentrate sold (000s oz) (8)

747 729

2016 2017 2018E

Metals contained in concentrate produced (8)

166

198 165-195

38.5 35.8

33.7-40.4

2016 2017 2018E

Gold (000s oz) Copper (Mlbs)

Record gold production in 2017

Guidance for another strong year in 2018

Focused on mine and process plant optimization

8, 9 See footnotes contained in Appendix on slide 38

All in sustaining cost (US$/oz gold sold)640-855

9

9 9

TSX:DPM

11

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

TSX:DPM

12

Chelopech – Near Mine Exploration

Drilling demonstrates

excellent potential for hosting

additional resources:

New zone of breccia

pipes, the favourable host

rock for ore, is found over

1500 m & is open to the

east

Large areas remain

between drilled sections

Similar geology, alteration

and style of mineralization

to that of the Central and

Western orebodies

Opens up whole new area

10,000 m drill program

proposed for 2018 to infill

existing holes at SEBP

zone

5,000 m of drilling

planned for Krasta target

in 2018

TSX:DPM13

TRANSITIONING TO FREE CASH FLOW

Tsumeb

Location: Tsumeb, Namibia

Ownership: 100%

2017 concentrate smelted: 219,000 tonnes

Operation: Specialty smelter

TSX:DPM

14

2012 2013 2014 2015 2016 2017 2018E 2019F 2020F 2021F 2022F

(2)

Tsumeb – Increased Stability with Growth Potential

Total Capital Expenditures (US$M)

63

140

130

44

19

8.6

2012 2013 2014 2015 2016 2017 2018E

219

240-

265

196198

152159

265-

300

200

300-

370

Production (‘000s tonnes)Cash cost/t of

con smelted

(net of by

product credits)

Third Party

con supplied

to smelter

(000s)

Chelopech

concentrate

supplied to

smelter (000s)

Potential future

capacity

$440-$500

240-

265

Growth Capital

Sustaining Capital

Secured processing outlet for Chelopech

Growing tolling business to build stand alone cash

flow generating business

Focused on stable operations at current throughput

Option to expand to 370k tpa in the future

Will evaluate strategic partnership alternatives

6, 9 See footnotes contained in Appendix on slide 38

99 99

(6)

Major investment phase complete Major investment phase complete

220-

250

12-18

99

TSX:DPM

15

11

7.2

12-18

2016 2017 2018E

200

219

220-250

2016 2017 2018E

9.7

14

2016 2017

Tsumeb Smelter Highlights

Complex Concentrate Smelted

(‘000s t)

Adjusted EBITDA (US$M) (7) Sustaining Capital (US$M) (6)

Stable performance in 2017

Continuing optimization of facility

Focused on improving availability of oxygen plant and unit cost reductions

Generated free cash flow in 2017

6, 7, 9 See footnotes contained in Appendix on slide 38

9

9

NEAR TERM, LOW COST GROWTH

TSX:DPM16

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

TSX:DPM

17

Krumovgrad – Robust Economics

Project

Economics

Robust with a

28% After-Tax

IRR *

Production and Operating Costs (10, B)

Annual tons processed 775,000 t

Gold grade 4.04 g/t

Strip ratio 2.6:1 waste:ore (t:t)

Annual gold production 85,700 oz

Year 1 to 5 average 103,020 oz

Annual silver production 38,700 oz

Total cash cost per oz AuEq $403

Average Annual EBITDA (7) $66 million

Year 1 to 5 average $85 million

Construction capital $162 - $168 million

NPV (5%) (@ Dec. 31, 2017) $296 million (adjusted for capital spent)

First concentrate production Q4 2018

LOM 8 years

High grade low strip ratio open pit gold mine

Operating synergies with Chelopech

Fully funded with near term production in Q4 2018

• @ US$1,250/oz Au

• Based on midpoint of updated construction capital

7, 10, B See footnotes contained in Appendix on slides 38 & 39

TSX:DPM

18

Krumovgrad – Project Progress

Milestone Actual/Expected Completion

Construction permit RECEIVED AUGUST 9, 2016

Mobilize earthworks contractor to site and commence earthworks Q4 2016

Commenced main civil/mechanical/electrical construction Q3 2017

Commissioning and start up Q3 2018

First concentrate production Q4 2018

Construction capital spent (@ Dec 31, 2017) / remainder to be spent in 2018 $79 million / $83-$89 million

Percent complete (@ Dec 31, 2017) 51%

Mill in foreground, flotation in background – Feb. 2018Krumovgrad site – Dec. 2018

Project Progress

Krumovgrad Project Facility

TSX:DPM

19

Surnak prospect

KUPEL NORTHDiscovery Hole

KPDD0098m at 12.81 ppm Au &

4.95 ppm AgSKALAK

SYNAP

KUKLITSA

KUPEL

SURNAK

SURNAK EXPLORATION TARGET

Exploration target potential of 80,000 to

160,000 oz Au contained within 1.8 to 2.4 Mt

grading 1.5 to 2 g/t Au

ADA TEPEProven and Probable

Reserves Au: 806 Koz at 4.05 g/tAg: 443 Koz at 2.2g/t

Surnak is one of six

registered Commercial

Discoveries within the mine

concession

Located 3 km west of Ada

Tepe

Sediment-hosted low

sulphidation epithermal gold

veins like Ada Tepe

Last explored by DPM in

2004-5: gaps in the drill grid

need infill drilling and

mineralization not closed off

6,000 m diamond drill

program to test extension at

Surnak as well as targets at

Kupel, Kupel North, and

Synap

Additional 1,600 m drilling

on regional licences

Krumovgrad – Exploration (22, 23)

Surnak Exploration Target

22, 23 See footnotes contained in Appendix on slides 38 & 39

Chelopech Mine, Bulgaria

FUTURE GROWTH PIPELINE

TSX:DPM

ADVANCED EXPLORATION

20

Location: Serbia

Ownership: 100%

Stage: Advanced exploration

Resource: 1.72 million ounces (19)

Timok

19. See footnotes contained in Appendix on slide 38

TSX:DPM

21

Serbia Advanced ExplorationTimok Gold Project

Previously assumed sulphide resource

Potential for oxides within previous

resource

Potential to increase mineable

resource and improve economics

Total Indicated Mineral Resources

1.72 Moz Au @ 1.54 g/t

contained within 34.7 MT

Inferred Mineral Resources

0.02 Moz Au @ 1.4 g/t

contained within 0.4 MT

Indicated Mineral Resource for Bigar Hill (19)

1.16 Moz Au @ 1.57 g/t

contained within 22.97 MT

Indicated Mineral Resource for Korkan (19)

0.33 Moz Au @ 1.55 g/t

Contained within 6.71 MT

Indicated Mineral Resource for Pester (19)

0.23 Moz Au @ 1.40 g/t

contained within 5.06 MT

19. See footnotes contained in Appendix on slide 38

TSX:DPM

22

Serbia Exploration (23)

Timok Gold Project: Korkan West Discovery

Near resource target drilled Nov. 2016

KW016: 105m at 1.21 g/t gold from

surface

Two phases of drilling at KW during

2017 totalling 41 holes for 6,770 m

Gold mineralization found over a

strike length of 220 m

Almost all reported intervals are oxide

11,500 m drilling planned for 2018

and leachability test work in Q1 2018

If successful proceed to updated

resource and scoping study

KORKAN

BIGAR HILL

KW Zone

KO Zone

46

37

33

47

41

45

42

35

39

166

168

173

Timok Gold ProjectIndicated Mineral

Resources1.72 Moz Au at 1.54 g/t

Inferred Mineral Resources

0.02 Moz Au at 1.4 g/t

KORKAN WESTDISCOVERY

167

169171

38170

172

40

36

43

44

23. See footnotes contained in Appendix on slide 38

KWDD016

TSX:DPM

23

Additional Upside Potential Through Equity Interests

35km2 of prospective Abitibi geology located 25 km west of

Val-d’Or

$2.5 M within first 3 yrs to earn 51% with option to increase

to 71% following an additional $3.5 M expenditure in the

following 3 yrs

Detailed geophysical and geochemical surveys have defined

VMS, intrusion-related and shear zone hosted Au

mineralization targets

Drilling planned for 2018 – 1,500-2,000 m

Value of DPM stake Feb. 28, 2018 = ~$40M (incl. warrants)

M&I resource – 5.3M oz Au

Inferred resource – 1.85M oz Au

Targeting Au production Q1 2021

Production of ~240k oz Au/year (yrs 1 through 8)

Receipt of final project certificate in Q4 2017

Success at Umwelt Vault Zone and Llama extension provides

upside potential to mine life

Proceeding with pre-construction activities for 2018

Sabina Gold and Silver Corp.

Back River Project, Nunavut

DPM Ownership – 10.2% (18)

Malartic Property, Quebec

Joint Venture

18. See footnotes contained in Appendix on slide 38

SUMMARY

TSX:DPM

GROWTH OPTIMIZATION INNOVATION

24

TSX:DPM

25

Chelopech Record gold

production

Digital transformation

15,000 m regional drilling

30,000 m resource

drilling

Digital

transformation

Digital

transformation

Tsumeb Stable production

Transition to free

cash flow

Further optimize

EIA approval

Commercial

agreements for

expansion

Decision on

expansion

Commence

expansion

construction

Krumovgrad Construction 50%

complete

Construction completion

and commissioning (Q3)

First concentrate

production (Q4)

6,000 m drilling on

satellite deposits

Ramp-up (Q1)

Commercial

production

Timok Drilling of Korkan

West targets

11,500 m Korkan West

drilling

Resource update

Leachability tests

Scoping study

PEA or

Prefeasibility

study

2017 2018 2019 2020

Key Value Generating Catalysts

TSX:DPM

26

US$95MUS$95M

DPM Outlook – A Growing Low Cost Producer

AuEq Production

Growing to

>350,000 oz

at $600/oz

2016 2017 2018F 2018F + Krumovgrad

747

640-855

607

All-in Sustaining Cost (US$/oz) (1, 17)

Krumovgrad gold production

commences Q4 2018

2016 2017 2018F 2018F + Krumovgrad

Au Cu Ag

Gold Equivalent Production (000s oz) (15)

(based on metals contained in concentrate produced)

254

369

266280

1, 9, 15, 17, 20, See footnotes contained in Appendix on slide 38

(9) (9, 20)

(9, 20)(9)

(15)

(15)

Annual EBITDA Less: Sustaining Capex

From Operating AssetsTotal ~$183M

~ US$81M

Chelopech(FYE Dec 31, 2017)

Krumovgrad (20)

(years 1 to 5)

Tsumeb(FYE Dec 31, 2017)

~ US$8M

Total ~$102M

Tsumeb(FYE Dec 31, 2017)

Chelopech(FYE Dec 31, 2017)

US$8M

2017 With Krumovgrad

(years 1 to 5)

(years 1 to 5)

729

TSX:DPM

27

$139

$485

$378

$198

$156 $154 $153 $153

$111$85

$37

Klondex Roxgold TMAC Resolute Premier Guyana Alacer DPM Argonaut Teranga Asanko

845

640607

811861 898 901 923 960 963 987

1,1741,217

DPM +Krum

DPM Guyana Klondex Resolute Roxgold Teranga Alacer TMAC Argonaut Premier Asanko

Deeply Undervalued Investment Opportunity

2018E All In Sustaining Costs (US$/oz) 6,12

EV/Reserves ($/oz) 12

(11)(13)

EV/2018E Gold Production ($/oz)

Undervalued on Mineral Reserves…

… and Cash Flow

… and Production

… with AISC in lowest quartile

6, 11,12, 13 See footnotes contained in Appendix on slide 38

(11)

(13)

EV/2018E AdjCF 12

(12)(13)$

2,7

84

$1

,79

3

$5

,19

8

$4

,79

2

$4

,69

2

$2

,57

3

$2

,43

0

$2

,35

8

$2

,14

7

$1

,62

0

$1

,48

2

$979

Alacer TMAC Premier DPM Roxgold Guyana Resolute Argonaut DPM +Krum

Klondex Teranga Asanko

5.9x3.1x

42.0x

28.2x

16.0x

8.1x 7.7x 7.7x 7.6x 7.2x5.2x 5.1x

Premier Alacer TMAC Resolute Klondex Asanko Argonaut Teranga DPM Guyana Roxgold DPM +Krum

TSX:DPM

28

Deeply Undervalued Investment Opportunity

Leverage Ratio 12

Debt to Capital

2018E P/NAV 12

Stability in operating jurisdictions

Tsumeb capital program complete & transitioning to FCF

Balance sheet deleveraged

Krumovgrad permitting & near term growth

DPM valuation

With a strong balance sheet… … and undervalued on P/NAV

Historical concerns have been addressed:

12 See footnotes contained in Appendix on slide 38

Roxgold Argonaut Guyana Klondex Teranga Premier DPM Alacer Asanko Resolute

1.00x

0.85x

0.78x 0.78x0.79x

0.63x

0.74x0.70x

0.53x

0.61x

27%25%

14%

12%

7%

4%3%

2%1%

Asanko Roxgold Alacer Guyana Premier Klondex DPM Resolute Teranga Argonaut

28%

TSX:DPM

29

Investment Highlights

Operating in mining friendly jurisdictions

Strong resource and reserve base

High quality, low cost, flagship asset

Near term, low cost growth in gold production

Growing exploration pipeline

Strong balance sheet

Strong management team

Deeply undervalued

Strong Asset Base, Near Term Growth & Deeply Undervalued

THANK YOU

TSX:DPM

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

30

APPENDICES

TSX:DPM31

TSX:DPM

32

Business Strategy

TSX:DPM

33

Mineral Resources (4,14,A,B) Million Tonnes Au (Moz) Cu (Mlbs) Au (g/t) Cu (%)

Chelopech

M&I

Inferred

12.6

1.8

1.399

0.138

301

37

3.45

2.4

1.08

0.96

Krumovgrad

Inferred (Upper Zone) 0.3 0.013 1.31

Timok

Indicated

Inferred

34.7

0.4

1.720

0.000

1.54

1.4

Tulare

Inferred (Kiseljak)

Inferred (Yellow Creek)

459.0

88.0

3.000

0.800

2,200

600

0.2

0.3

0.22

0.3

Total Mineral Resources

Measured & Indicated

Inferred

47.4

549.5

3.119

3.951

301

2,837

Mineral Reserves (4,14,A,B) Million Tonnes Au (Moz) Cu (Mlbs) Au (g/t) Cu (%)

Chelopech

Proven

Probable

11.4

8.4

1.075

0.920

232

166

2.92

3.42

0.92

0.90

Krumovgrad

Proven (Upper Zone)

Proven (Wall)

Probable (Upper Zone)

Probable (Wall)

1.1

1.5

3.5

0.1

0.124

0.325

0.337

0.020

3.46

6.83

3.00

5.54

Total P&P Mineral Reserves 26.00 2.801 398 3.35

Strong Mineral Resource and Reserve Base

4, 14,A,B See footnotes contained in Appendix on slides 38 & 39

TSX:DPM

34

2018 Guidance

US millions, unless otherwise indicated Chelopech Tsumeb Consolidated (5)

Ore mined/milled (‘000s tonnes) 2,100-2,200 - 2,100-2,200

Complex concentrate smelted (‘000s tonnes) - 220-250 220-250

Metals contained in concentrates produced (1)(2)

Gold (‘000s ounces) 165-195 - 165-195

Copper (million pounds) 33.7-40.4 - 33.7-40.4

Payable metals in concentrate sold (1)

Gold (‘000s) 140-170 - 140-170

Copper (million pounds) 31.0-37.0 - 31.0-37.0

Cash cost per tonne of ore processed ($) (3)(4) 37-40 - 37-40

All-in sustaining cost per ounce of gold ($) (3)(4)(5) - - 640-855

Cash cost per tonne of complex concentrate smelted, net of by-product credits ($) (3)(4) - 440-500 440-500

General & administrative expenses (3)(6) - - 20-24

Exploration expenses (3) - - 10-15

Sustaining capital expenditures (3)(4) 17-21 12-18 29-39

1) Gold produced includes gold in pyrite concentrate produced of 47,000 to 55,000 ounces and payable gold sold includes payable gold in pyrite concentrate sold of 30,000 to 35,000 ounces.

2) Metals contained in concentrate produced are prior to deductions associated with smelter terms.

3) Based on foreign exchange rates and, where applicable, metal prices that approximate current rates and prices after reflecting existing 2018 copper and ZAR hedges. In particular, 56% of 2018 payable copper

production has been hedged at a fixed price of $2.62 per pound and 28% of ZAR denominated operating expenses have been hedged at a fixed rate of 13.59.

4) Cash cost per tonne of ore processed, all-in sustaining cost per ounce of gold and cash cost per tonne of complex concentrate smelted, net of by-product credits, and sustaining capital expenditures have no

standardized meaning under GAAP. Refer to the “Non-GAAP Financial Measures” section of the MD&A for reconciliations to IFRS.

5) Includes the treatment charges, transportation and other selling costs related to the sale of pyrite concentrate, and payable gold in pyrite concentrate sold. Cash cost per ounce of gold sold, net of by-product

credits, excluding payable gold in pyrite concentrate sold and related costs, is expected to be between $550 and $600 in 2017. All-in sustaining cost per ounce of gold, excluding payable gold in pyrite

concentrate sold and related costs, is expected to be between $630 and $855 in 2018.

6) Excludes mark-to-market adjustments on share-based compensation and MineRPs’ general and administrative expenses.

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Hedge Position at December 31, 2017

Production Hedges - Swaps YearVolume Hedged

(lbs) % Hedged Average fixed price ($/lb)

Payable copper 2018 19,166,966 53% $2.62

QP Hedges Year Volume Hedged % Hedged Average fixed price

Payable gold 2017 9,865 oz 100% $1,284.29/oz

Payable copper 2017 1,014,125 lbs 100% $3.09/lb

Payable silver 2017 5,805 oz 100% $17.00/oz

Operating Cost FX Hedges YearForeign Currency

Amount Hedged% Hedged Average exchange rate

ZAR 2018 475,681,917 28% 13.5909

Production Hedges - Options Year Volume Hedged % HedgedAvg Ceiling

PriceFloor Price

Payable copper 2018 12,698,611 lbs 37% $3.32/lb $2.80/lb

Capital Expenditure FX Hedges YearForeign Currency

Amount Hedged% Hedged

Average exchange rate

(Foreign currency/US$)

Euro 2018 56,045,000 100% 1.1429

Production Hedges - Prepaid Forward Gold Sale Year Volume Hedged (oz) % Hedged Avg Forward Price

Payable Gold

Payable Gold

2019

2020

18,013

27,969

9%

11%

$1,390

$1,425

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Creating a Leading Technology Provider

MineRP

Faster deployment of Terrative to support its

growth and value potential outside of DPM

Complementary technologies to be sold to

existing and future clients across sectors

Establishes DPM at the forefront of digital

innovation and unlocking the full potential for

further operational benefits at existing sites

Unique opportunity for DPM shareholders to

participate in the growth in value of this

exciting business

Positions DPM to remain focussed on its core

mining operations

MineRP management will continue to

manage MineRP at arms length

DPM acquired a 78% interest (70% fully

diluted) for an investment of ~US$20 million

in cash and Terrative assets

22% held by MineRP management

DPM has provided MineRP Holdings Inc.

with up to US$5 million of additional

financing to support working capital and

growth initiatives

MineRP Holdings Inc.+ =

Strategic HighlightsTransaction Overview

Independent software vendor ("ISV") for

the mining industry

Industry leading platform

Improves productivity in planning and

operations by integrating applications

Headquartered in South Africa

Wireless underground

communications technology

developed at Chelopech

TSX:DPM

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DPM Summary

Chelopech

Krumovgrad

Subtotal

~$95 MM EBITDA Less: Sustaining (1) / yr

$81 MM first 5 yrs EBITDA Less: Sustaining (2) / yr(~$61 MM LOM)

~US$176 MM EBITDA Less: Sustaining (1)(2) / yr

• Exploration / mine life extension• Consistent track record of reserve

replacement

Sabina Equity(Incl. warrants)

$40 M equity value (as at February 28, 2018)

Tsumeb

Timok

Other Assets

Debt

Market Cap: $427 MShare Price: C$3.06

• Transitioning to FCF positive• $8 MM in EBITDA Less: Sustaining (1)

• 370 Ktpa potential capacity with significant operating leverage and modest capital

1.7 MM oz resource in Serbia• Exploration• Oxide potential

Khalkos JV, Tulare and other Serbian licenses, Armenian JV, Kapan NSR, MineRP (78%)

$23M (as at December 31, 2017)

• Exploration on original license

1 Based on FYE Dec. 31, 2017 audited annual financial statements.

2 Based on NI 43-101 technical report entitled “Revised NI 43-101 Technical Report, Ada Tepe Deposit, Krumovgrad Project, Bulgaria” dated November 7, 2017

Cash $29M (as at December 31, 2017)

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Footnotes and Disclaimers

1. AISC per ounce of gold represents cost of sales at Chelopech less depreciation, amortization and other non-cash items plus treatment charges, penalties, transportation and other selling costs, sustaining capital expenditures,

rehabilitation related to accretion expenses and an allocated portion of the Company’s G&A expenses less by-product revenues in respect of copper and silver including realized gains on copper derivative contracts divided by the

payable gold in copper and pyrite concentrates sold. Based on metals prices that approximate current rates.

2. Chelopech figures as per 2017 public filings; AISC includes gold production in pyrites

3. Effective dates for Reserves – contained in the 2016 Annual Information form dated March 28, 2017 for the year ended December 31, 2016, filed on sedar at www.SEDAR.com and available on our website at

www.dundeeprecious.com

4. Measured and Indicated Mineral Resources are in addition to Mineral Reserves

5. See slide 33 in Appendix for detailed Mineral Reserve and Mineral Resource Estimates

6. A non-GAAP measure. Refer to the “non-GAAP Financial Measures” section of the Q4 2017 MD&A for reconciliations to IFRS

7. Adjusted EBITDA represents earnings before interest, taxes, depreciation and amortization, adjusted for impairment charges, unrealized losses/gains on derivative contracts and investments at fair value, minus interest income

8. Includes gold in pyrite concentrate produced

9. Forecast/guidance information is subject to a number of risks. 2018E is based on guidance issued February 15, 2018. See “Forward Looking Statements” on slide 2

10. Krumovgrad figures as per June 6, 2016 press release.

11. Source DPM Guidance issued February 15, 2018

12. Source RBC Capital Markets, February 12, 2018 - Au US$1,300/oz, Ag US$17.50/oz, Cu US$3.00/lb; DPM balance sheet as at Dec. 31, 2017; Adjusted cash flow defined as cash flow from operations before sustaining capital

expenditures

13. Includes DPM 2018E plus Krumovgrad LOM average as per June 6, 2016 press release using RBC Capital Markets’ metal prices

14. Contained in the 2016 Annual Information Form dated March 28, 2017, filed on sedar at www.SEDAR.com and available on our website at www.dundeeprecious.com

15. Based on Au of $1,250/oz, Cu of $2.75/lb, Euro/US$ = 1.15

16. Calculated using Au production

17. AISC based on 2018 guidance for concentrate smelted

18. Source: Technical report for the Initial project Feasibility Study on the Back River Gold Property, Nunavut, Canada, Dated October 28, 2015, filed on sedar at www.SEDAR.com

19. Source: Timok Gold Project, Serbia – Updated Mineral Resource contained in the 2016 Annual Information Form, Dated March 28, 2017, filed on sedar at www.SEDAR.com

20. Based on NI 43-101 technical report entitled “Revised NI 43-101 Technical Report, Ada Tepe Deposit, Krumovgrad Project, Bulgaria” dated November 7, 2017, filed on sedar at www.SEDAR.com; Using gold price $1,250/oz

21. Includes 5 million warrants valued at US$5.0M as at December 31, 2017

22. Previous exploration work at the Surnak Prospect, which includes over 10,800 metres of trenching and drilling, has been used to outline an exploration target of 80,000 to 160,000 oz Au contained within 1.8 to 2.4 Mt grading 1.5

to 2 g/t Au. The exploration target potential was derived upon review of historic Mineral Resource estimates at Surnak, in combination with ongoing development of the 3D geologic model at Surnak. The potential ranges of

tonnes and grade are conceptual in nature are based on previous drill results that defined the approximate length, thickness, depth and grade of the portion of the historic Mineral Resource estimate. There has been insufficient

exploration to define a current Mineral Resource and the company cautions that there is a risk further exploration will not result in the delineation of a current Mineral Resource.

23. For more information regarding the company’s current Mineral Resource and Mineral Reserve estimates, please refer to Dundee Precious Metals Annual Mineral Reserve and Mineral Resource Statement as at December 31,

2016 contained in our Annual Information Form, dated March 28, 2017, which is available on our website at http://www.dundeeprecious.com and on sedar at www.SEDAR.com

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Footnotes and Disclaimers Cont’d

A. The Mineral Resource and Mineral Reserve estimates for Chelopech and other scientific and technical information which supports this presentation was prepared by Petya Kuzmanova, MIMMM, CSci, Senior Resource

Geologist, of the Company, under the guidance of CSA Global (UK) Ltd. (“CSA”), in accordance with Canadian regulatory requirements set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects, and

were reviewed and approved by, as relates to Mineral Resources, Malcolm Titley, BSc, MAIG, Principal Consultant of CSA, Ross Overall, Senior Corporate Resource Geologist, of the Company, and as relates to Mineral

Reserves, Karl van Olden, BSc (Eng), GDE, MBA, FAusIMM, Mining Manager of CSA. Malcolm Titley, Ross Overall and Karl van Olden are Qualified Persons (“QP”), as defined under NI 43-101 and are independent of the

company, with the exception of Mr. Overall who is not independent of the company. Ross Overall, Senior Corporate Resource Geologist, of the company, who is a QP, as defined under NI 43-101, has reviewed and approved

the contents of this presentation.

B. The Mineral Resource and Mineral Reserve estimates for the Krumovgrad project and other scientific and technical information which supports this presentation was prepared by CSA Global (UK) Ltd. (“CSA”), in accordance

with Canadian regulatory requirements set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects, and were reviewed and approved by, as relates to Mineral Resources, Galen White, BSc (Hons)

FAusIMM FGS, Director and Principal Consultant of CSA, and Julian Bennett, BSc ARSM FIMMM CEng, as relates to Mineral Reserves. Both Galen White and Julian Bennett are independent Qualified Persons (“QP”), as

defined under NI 43-101. The NI 43-101 technical report (the “Krumovgrad Technical Report”) entitled “Revised NI 43-101 Technical Report, Ada Tepe Deposit, Krumovgrad Project, Bulgaria” dated November 7, 2017, in

respect of the study for the construction and operation of its Krumovgrad gold project disclosed herein, was filed November 7, 2017 on SEDAR at www.sedar.com. Simon Meik, former Corporate Director Processing of the

Company, and Edgar Urbaez, formerly Corporate Director, Technical Services, both of DPM, who are QPs and not independent of the Company, have reviewed and approved the contents of this presentation. The Mineral

Resource and Mineral Reserve estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such Mineral Resources. See the Krumovgrad

Technical Report for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing Mineral Resource estimates.

Qualified Person Disclosure

Cautionary note to U.S. Investors concerning estimates of Mineral Resources. These estimates have been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of U.S.

securities laws. The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in NI 43-101 and recognized by Canadian securities laws but are not defined

terms under the U.S. Securities and Exchange Commission (“SEC”) Guide 7 (“SEC Guide 7”) or recognized under U.S. securities laws. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these

categories will ever be upgraded to mineral reserves. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all

or any part of an “inferred mineral resource” will ever by upgraded to a higher category. Under Canadian securities laws, estimates of “inferred mineral resources” may not form the basis of feasibility or pre-feasibility studies. U.S.

investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Accordingly, these mineral resource estimates and related information may not be comparable to

similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder, including SEC Guide 7.