DPM Metals Reports Third Quarter Gold Equivalent Production Results; On Track to Achieve High-End of 2026 Guidance

DPM Metals Inc. (DPM) reported preliminary third-quarter 2026 production of 97,000 gold equivalent ounces (GEO) produced and 77,000 GEO sold. The company processed 711,000 tonnes of ore, yielding 53,000 ounces of gold, 934,000 ounces of silver, 7 million pounds of copper, 28 million pounds of zinc, and 17 million pounds of lead. For the year-to-date period in 2026, production stood at 283,000 GEO produced and 230,000 GEO sold, with 2,328,000 tonnes of ore processed.

At the mine level, Q3 GEO contributions were approximately 45,000 from Vares, 50,000 from Chelopech, and 2,000 from Ada Tepe. DPM now expects to achieve the high end of its 2026 GEO production guidance, with Vares expected to exceed the high end of its 2026 GEO production range. Vares declared commercial production on August 10, 2026, and a full 850,000-tonne-per-annum run-rate is expected by the end of 2026.

Regarding development projects, the initial Mineral Resource estimate for the Wedge Zone is expected by year-end 2026, with twin declines to commence development in Q4 2026 and production contribution expected in late 2028. Meanwhile, the Ada Tepe process plant concluded operations on July 15, 2026. Dismantling and refurbishing have commenced for the Coka Rakita project, with construction expected in early 2027.

In terms of capital returns, DPM repurchased 1,860,000 shares in Q3 2026 at an average price of US$40.23, totaling approximately US$74.8 million. Year-to-date repurchases totaled 4,003,348 shares at an average price of US$37.36, totaling approximately US$149.6 million. Since 2021, the company has repurchased 33.6 million shares at an average price of C$16.71, representing approximately 18% of weighted average shares.

The company declared a quarterly dividend of US$0.04 per share, payable on October 15, 2026, with a record date of September 30, 2026. Q3 2026 financials are due after market close on November 12, 2026, followed by a call on November 13, 2026. The release references the October 1, 2026 Constitutional Court decision on the Vares concession but provides no new operational or financial impact quantification.

DPM Metals Inc. (DPM) issued a production and operations update on August 17, 2026, which largely confirmed expectations set by its earlier guidance. The company reported that Vares is now expected to exceed its 2026 gold equivalent ounces (GEO) production range. Specifically, Q3 Vares GEO production rose to 45,000 ounces from 35,000 ounces in Q2, representing a 28.6% increase.

In contrast, consolidated Q3 GEO production fell to 97,000 ounces from 102,000 ounces in Q2, a decrease of 4.9%. GEO sold dropped to 77,000 ounces from 87,000 ounces, down 11.5%. Production at Chelopech declined to 50,000 ounces from 56,000 ounces, a 10.7% drop, while the Ada Tepe mine contributed only 2,000 ounces as it has closed.

The release did not include data on all-in sustaining costs (AISC), revenue, margin, or cash flow. DPM Metals is scheduled to report Q3 financials on November 12, which will be a key test for the company, particularly as Vares gross operating costs are now included in AISC calculations starting from August 10, 2026.

Additionally, the October 1, 2026, Constitutional Court decision regarding the Vares concession remains a separate material overhang. This production release does not resolve that legal risk and explicitly assumes the concession remains unaffected.

DPM Metals Inc. is a Canadian-based international gold mining company listed on the TSX and ASX under the ticker DPM, with its headquarters in Toronto. The company’s producing assets include the Chelopech underground gold-copper mine in Bulgaria, which serves as its flagship operation, and the Vares silver-gold mine in Bosnia and Herzegovina, which achieved commercial production on August 10, 2026. The Ada Tepe gold mine in Bulgaria is now closed as of July 2026.

The company’s development and project portfolio includes the Coka Rakita gold project in Serbia, which is at the feasibility stage with construction expected to begin in early 2027. Other projects in Serbia, including Dumitru Potok, Rakita North, and Frasen, are at the inferred resource stage. In Bulgaria, the Brevene Porphyry South site represents a high-grade gold-copper discovery adjacent to Chelopech. Meanwhile, the Loma Larga project in Ecuador has had its environmental licence revoked, leading to minimized spending.

DPM Metals produces and sells gold, copper, silver, zinc, and lead, with production and sales measured in GEO. The company operates in Bulgaria, Bosnia and Herzegovina, Serbia, and Ecuador, and conducts exploration in Croatia, Montenegro, North Macedonia, Albania, and Romania. Its strategy is to become a mid-tier precious metals company through sustainable production, the development of quality assets, and disciplined M&A, funded by a strong balance sheet.