Dundee Precious Metals Inc.

Dundee Precious Metals Inc.

October 18, 2007 16:56 ET

Dundee Precious Metals Announces Appointment of Stephanie E. Anderson as CFO

TORONTO, ONTARIO--(Marketwire - Oct. 18, 2007) - Dundee Precious Metals Inc. (TSX:DPM)(TSX:DPM.WT) is pleased to announce the appointment of Stephanie Anderson as Executive Vice President and Chief Financial Officer of Dundee Precious Metals Inc ("DPM" or the "Company"). Her appointment is effective December 3, 2007.

Ms. Anderson has more than twenty years of experience in the mining industry. Ms. Anderson held a broad range of increasingly senior roles with Inco including: Director Market Research; Assistant Comptroller, Financial Planning and Analysis; Assistant Treasurer, Corporate Finance and most recently was Vice President and Treasurer.

During her tenure with Inco, Ms. Anderson played a key role in the preparation and validation of analysis of major acquisitions including the Voisey's Bay Project in Newfoundland and Labrador and the Goro Nickel Project in New Caledonia. She was responsible for global finance and treasury activities including bank lending and capital market transactions and managed the relationships with the major credit rating agencies. She also led a variety of high-profile taskforces for Inco.

Ms. Anderson has an Honours B.Sc. in Geology from the University of New Brunswick and a Master's in Business Administration from the University of Toronto.

"We are delighted that Stephanie will be joining our company" said Jonathan Goodman, Chief Executive Officer of DPM, "her breadth of mining experience and deep knowledge of financial markets is a unique and dynamic combination that will help sustain our growth and development".

Ms. Anderson's appointment is the final stage in a succession process initiated last year when Bruce Burton, the current CFO, indicated his intention to retire in late 2007.

"Bruce was one of our original four employees" noted Mr. Goodman "and has served with tremendous dedication and professionalism. Without his efforts we would not be where we are today".

Mr. Burton will continue to work on selected consulting assignments on behalf of the Company following the completion of the transition.

The entire Board of Directors expresses its sincere gratitude to Mr. Burton for the contributions made by him during his tenure as CFO.

Dundee Precious Metals Inc. is a Canadian based, international mining company engaged in the acquisition, exploration, development and mining of precious metals. It currently owns the Chelopech Mine, a producing gold/copper mine, and the Krumovgrad Gold Project, a mining development project, both located in Bulgaria, and is engaged in mineral exploration activities in Serbia. In addition, the Company owns the Back River gold exploration project in Nunavut, Canada and an 80% interest in the Kapan Mine in Armenia. DPM also holds a significant and strategic portfolio of investments in the precious metals and mineral related sector.

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