Dundee Corporation Delivers Exceptional Second Quarter Results and Major Portfolio Transaction Demonstrating Major Success in Its Core Strategy

TORONTO, Aug. 13, 2024 (GLOBE NEWSWIRE) — “Dundee is pleased to announce an excellent quarter and a transaction for our largest investment, Reunion Gold, marking a strong first half of 2024,” said Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation. “The transaction with G Mining Ventures Corp. delivered significant value to our shareholders, as well as an attractive future revaluation opportunity driven by multiple near-term catalysts. Today, Dundee announced the sale of a significant portion of our investment in G Mining Ventures Corp. A portion of the proceeds will be used to satisfy the mandatory prepayment requirement of the loan with Earlston Investments Corp. (“Earlston”), in accordance with the terms of our loan agreement. The combined value of Dundee’s remaining interest in G Mining Ventures Corp. and the proceeds from today’s sale transaction exceed our current market capitalization, providing an attractive investment opportunity in our stock. We would like to thank Earlston for their support, which has been critical to the success of the Company.”

“Our success in the current quarter underscores the strength of our core strategy, driven by strong investment performance amid record gold prices and continued progress in cost-saving efforts. We see numerous opportunities on the horizon as the market, in our view, continues to undervalue companies engaged in the discovery and development of high-quality precious metals, as well as base metals and strategic resources. We see a compelling value proposition in the gap between metal prices and mining equities, as well as future projected shortages of key metals needed to build tomorrow’s ambitious infrastructure projects. We are committed to long-term investments in high-quality projects and serve as advisors and partners to our investment companies to maximize asset value and achieve their full potential.”