Dundee Sustainable Technologies Inc.

Dundee Sustainable Technologies Inc.

October 08, 2014 17:00 ET

Dundee Sustainable Technologies Grants Options

MONTREAL, QUEBEC--(Marketwired - Oct. 8, 2014) - The Board of Directors of Dundee Sustainable Technologies ("DST" or the "Corporation") (CSE:DST) has approved the granting of options for 2,002,500 subordinate voting shares of the Corporation to directors, an officer, employees, and consultants. Two directors were granted an aggregate of 800,000 options and an officer, 250,000 options. Options granted to two investor relations consultants total 500,000. The options are exercisable at $0.20 and have a term of 5 years. All options vest immediately except for the options granted to investor relations consultants which vest over twelve months with 1/4 of the options vesting in every three-month period.

Following the grant, the total number of outstanding options under the Corporation's plan is 22,652,500 or approximately 9.78% of the outstanding shares.

About Dundee Sustainable Technologies, a company controlled by Dundee Corporation

The cyanide and mercury free gold extraction process developed by DSTI, has been recognized as a "green technology" for which DSTI has been awarded $5,700,000 in grants to date for a demonstration plant, presently under construction in Thetford Mines Quebec of which $700,000 has been provided by the Government of Quebec and $5,000,000 by the Government of Canada through the Sustainable Development Technology Fund. The plant is scheduled to go into operation in mid-January 2015.

Over the last ten years DST has tested over 50 different gold deposits, both oxide and sulfide ores at the lab level and at its pilot plant. These tests have, consistently achieved gold recoveries in excess of 90%, using chlorination instead of cyanide. In addition, the tailings from the process are inert from toxic substances and as result meet environmental norms. An engineering study supports DST's claim of having operated a pilot plant showing a gold extraction yield higher than 90% using a closed-circuit chlorination process.

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward- looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: results of exploration activities, general market and industry conditions, and other risks disclosed in the Corporation's filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Corporation's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

The Canadian Securities Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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