Dundee Mines Ltd.
TSX VENTURE : DUN

Dundee Mines Ltd.

March 19, 2008 18:31 ET

Dundee Mines Ltd. Raises $1.95 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2008) - Dundee Mines Ltd. (TSX VENTURE:DUN) reported today that the company has filed with the TSX Venture Exchange documentation related to two previously announced (Feb.27/08) non-brokered private placements with gross proceeds of $1,953,550.

The company said it has received subscriptions for 3,143,000 flow-through units at a price of $0.35 per unit (one flow-through common share and one-half non flow-through share purchase warrant, with each full warrant exercisable for a period of 18 months to purchase one additional non flow-through common share at an exercise price of C$0.50 per common share); and, subscriptions for 2,845,000 units at a price of $0.30 per unit comprising one non-flow through common share and one-half share purchase warrant with one full warrant exercisable to purchase one common share for a period of 18 months at a price of $0.35 per share.

The proceeds from the 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 that may be payable are subject to regulatory approval.

Corporate Update

The company also reported that it has appointed Jeannine PM Webb, CGA as Chief Financial Officer ("CFO") of the company effective February 1, 2008. Mrs. Webb has 20 years of experience in the mining resource sector. She was a principal of Badger & Co. Management Corp. ("Badger & Co."), a private company providing full range financial, corporate and geological management services to junior public mineral exploration companies operating nationally and internationally. During this time, Mrs. Webb served as CFO and Corporate Secretary for companies under management with Badger & Co. She currently serves as CFO for a number of Manex Resource Group companies, in addition to serving as Corporate Secretary to Pacific Ridge Exploration Ltd. The company has granted Mrs. Webb 50,000 incentive stock options exercisable at $0.32 per share for a period of five years in accordance with the company's stock option plan.

The company also reported that Scott B. Hean has been appointed VP Administration, effective February 1, 2008. Mr. Hean has held senior management and executive positions with J.P. Morgan of New York, primarily financing junior oil and gas companies and Bank of Montreal as Senior Vice President and Managing Director responsible for financing in the natural resources sectors in North America. Currently he is a Director and Chair of the Audit Committee, Sabina Silver Corporation (SBB on TSX-V) and Chair, Bill Reid Foundation Services Ltd. He has served on numerous not-for-profit Boards, including Outward Bound and B.C. Children's Hospital. Graduating from Simon Fraser University in 1973 and from the Ivey School of Business, London, Ontario, in 1975, Mr. Hean recently graduated from the Institute of Corporate Directors, Directors Education Program.

On behalf of the Board of Directors

Lawrence Page, President, 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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