DPM Metals Announces Inferred Mineral Resource Estimates of 2.6 Million Gold Ounces and 1.9 Billion Pounds of Copper at the Rakita Camp

On December 2, 2025, DPM Metals announced an initial Inferred Mineral Resource Estimate (MRE) for its Rakita Camp projects in Serbia, which are located near the Coka Rakita development project. The total inferred resource across three prospects (Dumitru Potok, Rakita North, and Frasen) is 84.4 million tonnes, containing 2.6 million ounces of gold at an average grade of 0.97 g/t and 1.9 billion pounds of copper at an average grade of 1.02%.

The Dumitru Potok prospect is the most significant contributor, with an inferred resource of 2.2 million ounces of gold and 1.5 billion pounds of copper. The company also reported positive preliminary metallurgical test work. However, drilling at the Rakita Camp is currently paused pending the renewal of the Coka Rakita exploration licence, which is anticipated in the second quarter of 2026. Upon renewal, the company plans extensive drilling programs totaling 40,000 metres.

The announcement of a large, initial MRE for the Rakita Camp is materially positive. It successfully delivers on the company's stated goal from September 2025 to establish a resource by year-end, confirming the district-scale potential of its Serbian assets. This news comes less than a week after DPM released a robust Feasibility Study for the adjacent Coka Rakita project, which significantly de-risked its primary growth asset.

This new resource adds a substantial, long-term growth layer to the company's pipeline. While the resource is entirely in the lower-confidence "Inferred" category and requires significant further drilling to be upgraded, its sheer scale suggests the potential for a multi-decade mining operation in the region, starting with Coka Rakita.

The positive exploration news from Serbia is particularly important given the major setback at the Loma Larga project in Ecuador, where the environmental license was revoked in October 2025. This MRE solidifies the Serbian assets as the cornerstone of DPM's future growth.

Key concerns tempering the positive impact are: - Inferred Category: These resources have a low level of geological confidence and cannot be converted to mineral reserves without substantial infill drilling. There is no certainty they will prove to be economically viable. - Permitting Delay: The pause in drilling until an anticipated permit renewal in Q2 2026 introduces a timeline risk and highlights jurisdictional uncertainty, a critical factor for investors following the negative developments in Ecuador.

Despite these risks, the announcement quantifies a major discovery and significantly enhances the company's long-term resource base, providing a clear path for future value creation beyond Coka Rakita. The market has been anticipating this, as evidenced by the stock's strong performance, and this release provides tangible validation for the exploration success.

DPM Metals is a Canadian-based international mining company. Historically a gold and copper producer with operations in Bulgaria (Chelopech and Ada Tepe), the company transformed itself in 2025 with the acquisition of Adriatic Metals, adding the producing Vareš silver-zinc-lead mine in Bosnia and Herzegovina.

The company's flagship development project is the Coka Rakita gold project in Serbia. A November 2025 Feasibility Study outlined a high-return, low-cost underground mine with an after-tax NPV5% of $782 million and a 36% IRR. The project is advancing towards a mid-2026 construction start. The adjacent Rakita Camp exploration ground, including the Dumitru Potok discovery, represents the company's key long-term organic growth pipeline.