Eira Thomas Joins Dundee Precious Metals' Board of Directors

TORONTO, ONTARIO -- (Marketwire) -- 09/19/12 -- Dundee Precious Metals Inc. (TSX: DPM)(TSX: DPM.WT.A) ("DPM" or "the Company") is pleased to announce the appointment of Ms. Eira Thomas to the board of directors of the Company, effective September 12, 2012.

"We are delighted that Eira has agreed to join the DPM board of directors" said Jonathan Goodman, President and CEO. "Her extensive geological and business experience will bring further technical depth to an already strong group of professionals with expertise across the business and political world."

Ms. Thomas graduated from the University of Toronto with a Bachelor of Science in Geology in 1990 and has over 20 years of experience in the mining industry. She has held a number of senior positions, most recently, as Chairman and director of Stornoway Diamond Corporation, of which she was also a co-founder.

Eira Thomas is currently a director of Suncor Energy Inc., as well as a number of other companies and organizations, including the Prospectors and Developers Association of Canada (PDAC), the University of Toronto Alumni Association, and the Lassonde Advisory Board of the University of Toronto.

Ms. Thomas has been honoured with a number of awards throughout her career, such as, "Canada's Top 40 under 40" by Caldwell Partners and the Report on Business Magazine in 2004 and "Top 100: Canada's Most Powerful Women" in 2007.

Dundee Precious Metals Inc. is a well-financed, Canadian based, international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. The Company's principal operating assets include the Chelopech operation, which produces a gold, copper and silver concentrate, located east of Sofia, Bulgaria; the Deno Gold operation, which produces a gold, copper, zinc and silver concentrate, located in southern Armenia; and the Tsumeb smelter, a concentrate processing facility located in Namibia. DPM also holds interests in a number of developing gold properties located in Bulgaria, Serbia, and northern Canada, including interests held through its 51.4% owned subsidiary, Avala Resources Ltd., its 47.3% interest in Dunav Resources Ltd. and its 10.7% interest in Sabina Gold & Silver Corp.

Contacts:

Dundee Precious Metals Inc.

Jonathan Goodman

President & Chief Executive Officer

(416) 365-2408
jgoodman@dundeeprecious.com


Dundee Precious Metals Inc.

Lori Beak

Vice President, Investor Relations and Corporate Secretary

(416) 365-5165
lbeak@dundeeprecious.com