Toronto, December 19, 2007 - Dundee Precious Metals Inc. (TSX: DPM; DPM.WT) (the “Company” or “DPM”) and Global Yatirim Holding A.S. (“Global”) of Istanbul, Turkey have entered into a memorandum of understanding that sets out the basis on which they intend to collaborate for the purpose of jointly assessing and, upon agreement, realizing, prospective project opportunities in the mineral resource sector in Turkey.

Global is an investment holding company listed on the Istanbul Stock Exchange (symbol: GLYHO TI / GLYHO.IS). Currently the business lines Global operates in are: energy, including natural gas distribution and electricity generation; infrastructure, including port management; real estate; and traditional non-banking financial and brokerage services. Global also holds a number of mining licenses across Turkey through a series of wholly-owned subsidiaries.

Dundee Precious Metals Inc. is a Canadian based, international mining company engaged in the acquisition, exploration, development and mining of precious metals. It currently owns the Chelopech Mine, a producing gold/copper mine, and the Krumovgrad Gold Project, a mining development project, both located in Bulgaria, and is engaged in mineral exploration activities in Serbia. In addition, Dundee Precious owns the Back River gold exploration project in Nunavut, Canada and an 80% interest in the Kapan Mine in Armenia. The Company also holds a significant and strategic portfolio of investments in the precious metals and mineral related sector.

For further information please contact:

DUNDEE PRECIOUS METALS INC.

Jonathan Goodman
President & Chief Executive Officer
Tel: (416) 365-2408
Email: jgoodman@dundeeprecious.com

Gabriela M. Sanchez
Vice President Investor Relations
Tel: (416) 365-2549
Email: gsanchez@dundeeprecious.com