Dundee Mines Ltd.

Dundee Mines Ltd.

November 02, 2007 16:08 ET

Dundee Mines Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2007) - Dundee Mines Ltd. (TSX VENTURE:DUN), reported today that the company has arranged a non-brokered private placement of up to 1.2 million units at a price of $0.25 per unit. The units will comprise of one common share and one-half of one common share purchase warrant. Each full warrant can be exercised for one common share at a price of $0.30 per share and for a period of 18 months.

The $300,000 proceeds of the offering will be added to general working capital. Finders fees may be payable. The private placement and finders fees are subject to regulatory approval.

Rob Macdonald, (P.Geo.), is the Qualified Person responsible for reviewing the technical results reported in this release.

On behalf of the Board of Directors,

Lawrence Page, Q.C., President, Director

Dundee Mines Ltd.

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Dundee Mines Ltd. relies upon litigation protection for forward looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

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