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Response by Dundee Precious Metals

Author: Dundee Precious Metals Inc., Published on: 7 December 2010

As yet the exploration drilling program is incomplete. We have not yet been granted any approval to develop an open pit and nor has the process for obtaining such approval been initiated. When the approval process is initiated it will be in full compliance with Armenian law...and there will be full stakeholder engagement...Should an open pit mine eventually be developed it will meet the needs of all stakeholders and be “best practice” with respect to safety, health, and environmental performance...we will be aiming to develop the most economic and sustainable operation possible while recognizing the needs and aspirations of the mining reliant community we work in to maintain employment levels...

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This is a response from the following companies: Dundee Precious Metals