DPM Metals Announces Discovery of High-Grade Porphyry Mineralization Adjacent to Chelopech Mine; Results include 713 Metres at 2.52 g/t AuEq (comprising of 1.31 g/t Au and 1.16% Cu)

On June 3, 2026, DPM Metals announced a major new high-grade gold-copper porphyry discovery at the Brevene South Porphyry (BSP) target, located contiguous with the Chelopech mine concession in Bulgaria. Initial deep drilling intersected a broad, continuous zone of mineralization. The headline intercept is 713 metres grading 2.52 g/t AuEq (1.31 g/t Au, 1.16 % Cu) from 1,172 m downhole, including a higher-grade core of 398 m at 3.00 g/t AuEq. Other holes also returned long intercepts (95 m at 0.93 g/t AuEq, 37 m at 1.19 g/t AuEq), while one hole ended in phyllic alteration with assays pending. The system is characterized by a large phyllic alteration envelope of at least 1,000 m × 1,500 m, remains open in all directions, and is hosted by a strongly altered porphyritic intrusion with quartz stockworks and replacement textures. The company is ramping exploration aggressively: up to 15,000 m of additional drilling by end‑2026 with five high-capacity rigs on BSP, and seven other rigs testing additional targets across the Brevene licence. Regulatory progress continues toward converting the exploration licence into a mining concession; a final report to support a Commercial Discovery Certificate is expected after the current phase ends in September 2026.

This is the most significant exploration result disclosed by DPM in the news period reviewed, and the fact that the discovery sits immediately adjacent to the company’s 10‑year‑life Chelopech mine radically reduces the economic threshold for eventual development. The intercept of 713 m at 2.52 g/t AuEq is extremely large and of a grade that, if sustained through infill drilling, could rival or exceed the current Chelopech reserve grade (2.18 g/t Au). The porphyry style (copper‑gold) and vertical extent exceeding 2,000 m suggest a deposit that could materially extend Chelopech’s overall mine life well beyond the current 2036 horizon, or even support a standalone operation sharing existing infrastructure. Importantly, the target is on a 27.3 km² licence that the company already controls and has been advancing toward a mining concession, so there is no additional acquisition cost.

The market has not yet priced this news (the last close is $45.97 the day before the release). Prior major discoveries (Wedge Zone Deep, Rakita camp) have been catalysts for the stock, but this one differs because it is contiguous to the flagship operation and could be monetized more quickly. The aggressive drilling plan and regulatory milestones add near‑term catalysts. However, the discovery remains early‑stage; there is no resource estimate and the company itself says it aims to “allow for a more rapid assessment of the economic potential.” In the context of a $10B market cap, it is material but not yet game‑changing until substantial additional drilling confirms the scale and grade. The rating is therefore Material – Positive.

Previous news releases in the period provided important context: - DPM’s financial position is exceptionally strong (Q1 2026: $575M cash, no debt, $400M undrawn revolver, record free cash flow). - The Chelopech mine life was extended to 2036, and the Wedge Zone Deep discovery added high‑grade underground upside. - The Čoka Rakita project is fully permitted for construction start in early 2027, with robust economics. - The Loma Larga licence was revoked, which the market seems to have largely discounted (the stock declined in March 2026 then recovered). The new discovery could partly fill that growth gap. - Vareš ramp‑up is on track, providing additional near‑term production and cash flow.

Thus, the June 3 discovery enhances an already strong growth pipeline, potentially adding a third major organic growth project alongside Čoka Rakita and Wedge Zone Deep.

DPM Metals Inc. (formerly Dundee Precious Metals) is a Canada‑based precious and base metals producer with operations in Bulgaria, Serbia, and Bosnia‑Herzegovina. - Flagship: Chelopech underground copper‑gold mine in Bulgaria. As of the February 2026 updated life‑of‑mine plan, it has proven and probable reserves of 23.2 Mt at 2.18 g/t Au (1.63 Moz) and 8.35 % Cu (308 Mlb), supporting a 10‑year mine life to 2036. - Other producing assets: Ada Tepe (Bulgaria) – reached end‑of‑life in April 2026; Vareš (Bosnia) – polymetallic underground mine acquired in September 2025, ramping to 850,000 tpa. - Key development project: Čoka Rakita (Serbia) – high‑grade underground gold project with reserves of 7.34 Mt at 6.44 g/t Au (1.52 Moz); feasibility study NPV 5% $782M, IRR 36% at $1,900/oz gold; construction start early 2027. - Exploration upside: Wedge Zone Deep at Chelopech (high‑grade intercepts, resource expected by end‑2026), the Rakita camp (2.6 Moz Au inferred plus copper), and now the Brevene South Porphyry.