Dundee Mines Ltd.
TSX VENTURE : DUN

Dundee Mines Ltd.

February 27, 2008 12:17 ET

Dundee Arranges Non Brokered Private Placements

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2008) - Dundee Mines Ltd. (TSX VENTURE:DUN) reported today that the company has agreed to issue a total of 6.5 million common shares in two non-brokered private placements for total gross proceeds of C$2,075,000.

The company has agreed to issue 4.0 million units in a non brokered private placement at a price of C$.30 per unit to raise C$1.2 million. Each unit offering will consist of one common share and one-half share purchase warrant, with each full warrant exercisable to purchase one additional common share at an exercise price of C$0.35 per share for a period of eighteen months. Finder's fees may be payable.

The company has also agreed to issue 2.5 million "flow-through" units in a non-brokered private placement at a price of C$0.35 per unit to raise C$875,000. Each unit offering will consist of one flow-through common share and one-half non flow-through share purchase warrant, with each full warrant exercisable to purchase one additional non flow-through common share at an exercise price of C$0.50 per common share. Finder's fees may be payable.

The proceeds from both private placements will be for working capital and the advancement of the company's projects in SE British Columbia.The private placements and finder's fees are subject to regulatory approval.

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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