Dundee Corporation Completes Big River Gold Privatization Deal with Aura Minerals to Develop and Participate in Future Cash Flows from Volvolema Mine, Canadian Business Journal

TORONTO, September 21, 2022 (GLOBE NEWSWIRE) — Dundee Corporation (TSX: DC.A) (“Dundee” or the “Company”), a wholly owned subsidiary of the Company, Dundee Resources Limited (“Dundee Resources”) through a joint venture agreement with 20 Aura Minerals Inc (“Aura”). , acquires a 100% interest in Big River Gold Limited (“Big River”). The Supreme Court of Western Australia has approved the acquisition of Big River on 8 September 2022.

Return-focused middle-tier gold and copper producer Aura partners with Dundee Resources to review project and feasibility study in compliance with National Instrument 43-101 – Standards of Disclosure for Minerals (“Borborema FS”). Project Borborema project (“NI-43-101”) will be completed by early 2023. Tentatively, subject to completion and confirmation of the Borborema FS, construction of the Borborema project is scheduled to begin in 2023 and production will be: Scheduled to start in 2025.

As previously disclosed, Aura and Dundee Resources’ joint venture interest in the project will be held through an intermediate holding company (“Borborema Inc.”) resulting in Dundee Resources having an indirect 20% stake in Borborema, Inc. will retain the equity. A donation of Dundee Resources’ previously held shares in Big River and a “top-up” cash offer of approximately US$2.5 million for Borborema, Inc. shares.

Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation, commented: A respected partner, he is delighted to work closely with Aura. Aura is an exceptional, responsible and ESG oriented operator with extensive experience and success in Brazil and fully licensed he will develop the Borborema Gold Project. Progress and timeline as Borborema, Inc. transitions to development and production. This is clearly a transformative deal for Dundee and we look forward to evolving to become an emerging gold producer. ”

About Dundee Corporation

Dundee Corporation is a Canadian public independent holding company listed on the Toronto Stock Exchange under the symbol “DC.A”. Dundee Corporation, through its operating subsidiaries, is an active investor focused on delivering long-term sustainable value as a trusted partner in the mining sector and has increased its investment in mining for over 30 years. I was.

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Advisor and Counsel

Cassels, Brock, & Blackwell LLP is acting as legal advisor in Canada and Blackwall Legal LLP is acting as legal advisor to Dundee Resources Limited in Australia.

Canaccord Genuity Corp. is acting as exclusive financial advisor, Gowling WLG (Canada) LLP is acting as Canadian legal advisor, and King & Wood Mallesons is acting as Australian legal advisor to Aura Minerals.

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information includes words such as “may,” “could,” “would,” “will,” “should,” “intend,” and “target.” includes statements that use forward-looking terms such as , “plans” and “expects”. “budget”, “estimate”, “forecast”, “schedule”, “expect”, “believe”, “continue”, “potential”, “opinion” or any negative or grammatical variations thereof; or other variations thereof, or equivalent terms. Such forward-looking information includes, but is not limited to, statements regarding the completion of the transaction. Plans and expectations regarding the timing of completion of the Borborema FS, exploration plans at Borborema, timing and completion of development at Borborema, and timing and levels of production at Borborema. Mine life and other expectations at Borborema and other statements relating to potential production projections and may predict, predict, suggest or imply future plans, intentions, levels of activity, results, performance or outcomes; any other description that may be

Forward-looking statements, although we believe to be reasonable, are necessarily subject to a number of estimates and assumptions that are inherently subject to material business, economic and competitive uncertainties and unforeseen circumstances. It is based on. Please refer specifically to the most recent Annual Information Forms filed with certain Canadian provincial securities regulators to discuss some of the factors underlying forward-looking statements. forecasts and their expected timing and results; our ability to successfully achieve our business objectives; fluctuations in copper and gold or certain other commodity prices; certainty, increased costs, compliance with and changes in environmental laws and regulations, interest rate and exchange rate fluctuations, accuracy of mineral reserves and resource estimates, general economic conditions, and mineral exploration and development Other risks associated with the industry. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove to be incorrect, actual results or future events may not be possible. Forward-looking information may differ materially from those anticipated. We have attempted to identify important risk factors that could cause our actual results to differ materially from those contained in the forward-looking information, but are not currently known to us or are not currently material to us. There may be other risk factors that we do not believe exist. It also could cause actual results or future events to differ materially from those expressed in such forward-looking information. may vary materially and there is no guarantee that such information will prove to be accurate. Readers should therefore not place undue reliance on forward-looking information, which speaks only as of the date it is made. The forward-looking information contained in this press release represents our expectations as of the date of this press release (or otherwise stated as being made) and is subject to change after that date. There is a possibility. We disclaim any intention, obligation or undertaking to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. .

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