Dundee Precious Metals: Bulgarian Operations Leadership Update

A message from from Iliya Garkov, Senior Vice President, Europe Operations and Dave Rae, President & CEO

We are pleased to announce the promotion of Tsvetomir Velkov to General Manager, Chelopech and Lyubomir Hainov to General Manager, Ada Tepe. In their new roles, they will be accountable for the general operations of Chelopech and Ada Tepe, respectively. These promotions recognize their significant contributions, strong performance, and help to ensure the required organizational design, leadership and talent is in place to support our strategy.

Tsvetomir has been with the Company for over 20 years, bringing significant technical and operating experience into this new leadership position. Under his leadership, the Smart Centre successfully transitioned from a pilot project into full operation, and he has also led a number of optimization projects, including the recent transition to the 5×5 shift changes, which is forecasted to achieve significant savings for Chelopech.

Lyubomir joined the Company over 25 years ago, originally starting at Chelopech before moving over to Ada Tepe as Director, Operations, where he played an integral role as part of the operations readiness team as the mine commenced production in 2019. He was a key contributor to the development of the cutting-edge Integrated Mine Waste Facility at Ada Tepe, which is the first of its kind to be built in Europe.

Please join us in congratulating Tsvetomir and Lyubomir on their promotions and provide them with your full support as they take on these new leadership positions.