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DPM Metals Inc. (TSX: DPM, ASX: DPM) (ARBN: 689370894) ("DPM" or "the Company") is pleased to announce it achieved commercial production at its Vareš silver-gold mine located in Bosnia and Herzegovina on August 10, 2026.
DPM achieved commercial production at Vareš by exceeding an average of 60% of design throughput capacity and recoveries over a period of 30 consecutive days. During this period, daily throughput averaged 72% of the plant's design capacity, exceeding the Company's benchmark for commercial production. This reinforces DPM's confidence in the stability and consistency of the processing plant and positions Vareš to achieve the full production run-rate of 850,000 tonnes per annum by year-end 2026.
"Achieving this milestone for Vareš ahead of schedule is a testament to DPM's track record of building, expanding and optimizing mining operations, as well as our commitment to unlocking value by investing in our people and our assets," said David Rae, President and Chief Executive Officer of DPM Metals.
"From day one, we focused on embedding DPM's health and safety standards, investing in training and leadership development of the local team and transferring our proven operating practices, which has laid the foundation for Vareš to deliver near-term production growth for DPM and long-term value for our shareholders.
"I want to congratulate our entire team for their exceptional dedication and hard work and extend my sincere gratitude to the communities and stakeholders in Bosnia and Herzegovina, whose partnership and continued support have been instrumental to our success."
Based on production results in the first half of 2026 and continued strong performance, DPM now expects Vareš' production in 2026 to be at the higher end of its guidance range of 105,000 to 130,000 gold equivalent ounces. For more information regarding DPM's guidance for 2026, refer to the management's discussion and analysis for the period ended June 30, 2026, available on our website at www.dpmmetals.com and SEDAR+ at www.sedarplus.ca.
About DPM Metals Inc.
DPM Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Bosnia and Herzegovina, Serbia and Ecuador. Our strategic objective is to become a mid-tier precious metals company, which is based on sustainable, responsible and efficient gold production from our portfolio, the development of quality assets, and maintaining a strong financial position to support growth in mineral reserves and production through disciplined strategic transactions. This strategy creates a platform for robust growth to deliver above-average returns for our shareholders. DPM trades on the Toronto Stock Exchange (symbol: DPM) and the Australian Securities Exchange as a Foreign Exempt Listing (symbol: DPM).
For further information please contact:
Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
jcameron@dpmmetals.com
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward looking statements" or "forward looking information" (collectively, "Forward Looking Statements") that involve a number of risks and uncertainties. Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "outlook", "intends", "anticipates", "believes", or variations of such words and phrases or that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The Forward Looking Statements in this press release relate to, among other things: the Company's future business plans, objectives, and strategy; anticipated rates of production at the Vareš operation; and the anticipated timing for achievement of the full run-rate at the Vareš operation.. Forward Looking Statements are based on certain key assumptions and the opinions and estimates of management, as of the date such statements are made, and they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any other future results, performance or achievements expressed or implied by the Forward Looking Statements. In addition to factors already discussed in this news release, such factors include, among others, possible inaccurate estimates relating to future production, operating costs and other costs for operations; possible variations in ore grade and recovery rates; risks inherent to mining operations and the mining industry more broadly; , as well as those risk factors discussed or referred to in the MD&A, the Company's most recent Annual Information Form in any other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available on SEDAR+ at www.sedarplus.ca . The reader has been cautioned that the foregoing list is not exhaustive of all factors which may have been used. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward Looking Statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that Forward-Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company's Forward Looking Statements reflect current expectations regarding future events and speak only as of the date hereof. Unless required by securities laws, the Company undertakes no obligation to update Forward Looking Statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on Forward Looking Statements.
