Dundee Precious Metals Inc.
TSX : DPM
TSX : DPM.WT

Dundee Precious Metals Inc.

January 10, 2008 16:07 ET

MEDIA RELEASE

TORONTO, ONTARIO--(Marketwire - Jan. 10, 2008) - The following announcement was issued by Deno Gold Mining Company CJSC, a 95% owned subsidiary of Dundee Precious Metals Inc. (TSX:DPM)(TSX:DPM.WT), in connection with an accident at its underground mine in Armenia.

"Deno Gold Mining Company CJSC (the "Company"), a subsidiary of Dundee Precious Metals Inc., regrets to announce that on the night of January 9, 2008 a tragic accident occurred in the northern area of the Shahumyan underground mine in Kapan, Armenia. Two miners have been affected by the accident; one was recovered dead at the scene and the other miner was injured and has been transported to the medical centre of Kapan where he is conscious and receiving medical attention.

The affected area of the mine has been isolated and the Company's health and safety team, together with the Armenian National Centre of Technical Security, is fully investigating the incident.

The Company would like to take this opportunity to express its deepest condolences to the family and friends of the deceased and to all employees of the mine who have lost a valued colleague."

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