Author: Tumanian Talar

COURT-YARD CAMP OF AKHALKALAK SURB KHACH CHURCH CLOSES

Noyan Tapan
Armenians Today
Aug 23 2006

AKHALKALAK, AUGUST 23, NOYAN TAPAN – ARMENIANS TODAY. The closing
ceremony of the court-yard camp having functioned for about one month
took place in the territory adjacent to the Akhalkalak Surb Khach
(Saint Cross) church.

According to the "A-Info" agency, about 170 children from Akhalkalak,
of 7-15 years old, participated in the camp. According to words of
Liana Khloyan, the court-yard head, the director of the Yerevan
"Puprik" children’s and juvenile theater-studio, the camp is
directed to historic-cultural and spiritual education. The camp
detachment leaders were representatives of the youth union of the
Ararat Patriarchal Diocese of the Armenian Apostolic Church. To recap,
pupils of one of Armenian Sunday schools of New York sponsored the
camp. The "Javakhk Call" fund and the Akhalkalak Mayor’s Office also
assisted the camp.

WORLD BANK TO CARRY OUT SECOND CREDIT PROGRAM IN ARMENIAN HEALTH SPHERE IN 2006-2008

ARMENPRESS
Aug 24 2006

YEREVAN, AUGUST 24, ARMENPRESS: In 2006-2008 the World Bank will
carry out the second credit program in the Armenian health sphere
which will be aimed at improving the quality of medical services and
its availability.

An official from the Armenian Finance and Economy Ministry told
Armenpress that as part of the credit program it is expected to develop
the family medicine, optimize and modernize hospital system and reach
institutional development.

The official also said that within the framework of the program the
medical institutions will be equipped with modern necessary medical
devices and training courses for specialists will be held.

EURASEC MEMBERSHIP WILL HAMPER ARMENIA’S INTEGRATION WITH EUROPE

Yerevan, August 22. ArmInfo. EURASEC membership will hamper Armenia’s
integration with Europe, said to ArmInfo correspondent political
scientist Sergey Sarkisian, member of the SPECTRUM center.

To the opinion of the analyzer, delaying the talks with the WTO Russia
enhanced its activity in EURASEC. The latter, being founded in 2000,
provides establishment free trade regime and single tax tariff between
its member states. It also requires its members to make agree their
programs with the WTO. S. Sarkisian said that in spite of all critics,
EURASEC in the most progressive of all organization of the post-Soviet
area. The last EURASEC summit made a decision to establish a Customs
Treaty of Belarus, Russia and Kazakhstan, which later can be joined
by the rest of EURASEC members. Mr. Sarkisian said that membership in
both WTO and EURASEC is possible due to applying the loss compensation
mechanism. The political scientist emphasized the decision of the
last summit about creating a unified energy market. Unification of
transport and energy carriers tariffs and including in its structure
Ukraine and Uzbekistan will provide EURASEC the opportunity of becoming
the heir of CIS. He did not exclude the opportunity of merging EURASEC
and CIS into one.

To the opinion of Sergey Sarkisian the EURASEC will permit
to establish much higher preferences for energy than bilateral
partner agreements. He considers that this organization provides
Russia a brilliant opportunity of starting the integration of the
post-Soviet states into a single organization with political and
military implication and an essential economic background. Taking into
consideration all the abovementioned facts Armenia, Armenia cannot
remain just a spectator in EURASEC, being an active member of the
CSTO. On the other hand the EURASEC membership may hamper Armenia’s
integration in EU, that is why the Armenian diplomacy must use all
its skill to find the balance between the West and the EURASEC.

UN HIGH COMMISSIONER FOR REFUGEES STARTS 6-DAY VISIT TO SOUTH CAUCASUS TODAY

Arka News Agency, Armenia
Aug. 17, 2006

YEREVAN, August 16. /ARKA/. UN High Commissioner for Refugees Antonio
Gutieres started his six-day visit to South Caucasus. The Yerevan
UNO office’s press service reported that the goal of this visit is
to strengthen the UNHCR’s role in settling continuing conflicts and
establishing a dialogue in the region.

"The UNHCR is ready to participate in the process of establishment of
peace and development together with governments and local structures.

In Armenia and Azerbaijan, the UNHCR participates in the peaceful
settlement to the Karabakhi conflict, and in Georgia – in two parallel
settlements to the South-Osetian and Abkhazian conflicts," the press
service reported.

A peaceful settlement and stability in the region will allow refugees
to return to their homes and get reintegrated.

The South Caucasian region, populated by over one million of refugees,
is the key zone of the UNHCR’s activity in Europe with the budget
for $9.4mln.

Armenian Assembly of America
1140 19th Street, NW, Suite 600
Washington, DC 20036
Phone: 202-393-3434
Fax: 202-638-4904
Email: [email protected]
Web:

PRESS RELEASE
FOR IMMEDIATE RELEASE
August 16, 2006
CONTACT: Christine Kojoian
E-mail: [email protected]

CALIFORNIA LEGISLATURE MARKS ARMENIAN INDEPENDENCE DAY

Establishes First-Ever Armenian Caucus

Beverly Hills, CA – An Armenian Assembly-led delegation traveled to
Sacramento on August 14 to welcome a bipartisan resolution in the
State Legislature, honoring the California-Armenia relationship and
designating September 21, 2006 as "Armenian Independence Day."

Concurrently, State Assembly Majority Leader Dario Frommer
(D-Glendale) and Assembly Member and Republican Caucus Chair Greg
Aghazarian (R-Stockton) announced the establishment in California of a
first-ever state-level Armenian Caucus, known as the Assembly Armenian
Legislative Caucus. The Assembly-supported initiative, modeled after
the Congressional Caucus on Armenian Issues, will work to strengthen
the California-Armenia relationship. The State Senate is expected to
announce the formation of an Armenian Caucus later this week.

"It has been an honor working with the Armenian Assembly on issues
important to the community over the course of my tenure in the
Legislature," said Frommer. "I also traveled to Armenia with a
delegation lead by the Armenian Assembly. I am especially pleased
that working together we were able to create the Assembly Armenian
Legislative Caucus to highlight the growing political influence of
this community in California."

The resolution, which celebrates the 15th anniversary of Armenia’s
independence, was introduced in the State Senate by California State
Senators Charles Poochigian (R-Fresno), Jack Scott (D-Pasadena),
Joseph Simitian (D-Palo Alto), and Jackie Speier (D-San Mateo). A
similar resolution was also introduced in the State Assembly by
Frommer and Aghazarian.

"The establishment of the Republic of Armenia was a milestone in
Armenian history," said Poochigian. "As California recognizes the
fifteenth anniversary of its establishment, we celebrate this occasion
with the three million Armenians who live in present day Armenia."

Both resolutions recognize September 21, as "Armenian Independence
Day," and encourage the people of California to celebrate Armenia’s
15th anniversary and the California-Armenia relationship.

The resolutions also note that California is home to the largest
population of Armenians in the U.S., and state, "those citizens have
enriched California through leadership in the fields of academia,
medicine, business, agriculture, government, and the arts, and are
proud patriotic practitioners of the American citizenship."

"We join with the Armenian community of California in extending our
appreciation to the Senators and Assembly Members for establishing
the Caucus and introducing this important legislation which honors the
great strides Armenia has made over the past 15 years," said Board of
Trustees Member and Western Office Chairman Richard Mushegain. "As
a Californian, I am pleased that my state is the first to mark the
anniversary of Armenia’s independence."

In addition to Mushegain, the Assembly delegation included Deputy
Consul General of the Republic of Armenia Harutyun Kojoyan, Assembly
Western Office Director Lena Kaimian, Executive Director of the
Armenian Council of America Peter Darakdjian, Vice Chair of the
Armenian Council of America Hagop Ajemian and Representative of the
Armenian Rights Council Daniel Aydenian.

Since its independence from the Soviet Union in December 1991,
Armenia has vigorously pursued free-market reforms within a democratic
framework. The United States was among the first countries to recognize
the fledgling democracy and over the years, the governments developed
a strong partnership based on shared values and mutual goals.

In 1995, the Congressional Caucus on Armenian Issues was formed
in the House of Representatives to provide a bi-partisan forum for
legislators to discuss how the United States can better assist the
people of Armenia and Nagorno Karabakh. Co-Chaired by Representatives
Frank Pallone, Jr. (D-NJ) and Joe Knollenberg (R-MI), the Caucus has,
over the years, played a critical role on a wide range of issues,
including assistance programs for Armenia and Karabakh, the ongoing
Turkish and Azeri blockades, the Karabakh peace process and efforts
to reaffirm the U.S. record on the Armenian Genocide.

The Armenian Assembly of America is the largest Washington-based
nationwide organization promoting public understanding and awareness
of Armenian issues. It is a 501 (c) (3) tax-exempt membership
organization.

NR#2006-075

Photographs available on the Assembly Web site at the following links:

5/2006-075-1.jpg

Caption L to R, front row: Representative of the Armenian Rights
Council Daniel Aydenian, Armenian Assembly Western Office Director
Lena Kaimian, Deputy Consul General of the Republic of Armenia
Harutyun Kojoyan and California State Senators Jackie Speier (D- San
Mateo) and Jack Scott (D-Pasadena). Back row: Executive Director of
the Armenian Council of America Peter Darakdjian, California State
Senators Charles Poochigian (R-Fresno), Armenian Assembly Board of
Trustees Member and Western Office Chairman Richard Mushegain and
Vice Chair of the Armenian Council of America Hagop Ajemian.

075/2006-075-2.jpg

Caption L to R: Executive Director of the Armenian Council of
America Peter Darakdjian, Armenian Assembly Western Office Director
Lena Kaimian, Representative of the Armenian Rights Council Daniel
Aydenian, Assembly Member and Republican Caucus Chair Greg Aghazarian
(R-Stockton), Armenian Assembly Board of Trustees Member and Western
Office Chairman Richard Mushegain, Deputy Consul General of the
Republic of Armenia Harutyun Kojoyan, State Assembly Majority Leader
Dario Frommer (D-Glendale) and Vice Chair of the Armenian Council of
America Hagop Ajemian.

PUTIN TO MEET WITH KOCHARIAN, NAZARBAYEV BEFORE EURASEC SUMMIT

Interfax, Russia
Aug. 15, 2006

SOCHI. Aug 15 (Interfax) – Russian President Vladimir Putin will
meet with his Armenian and Kazakh counterparts Robert Kocharian and
Nursultan Nazarbayev before an informal Eurasian Economic Community
(EurAsEC) summit, Russian presidential aide Sergei Prikhodko told
journalists on Tuesday.

During Putin’s meeting with Nazarbayev, the two countries will
sign Russian-Kazakh documents on transportation and cargo delivery,
Prikhodko said.

NIXON TROUBLESHOOTER A KEY WATERGATE FIGURE
By Doug Button

Herald Sun (Australia)
August 15, 2006 Tuesday
FIRST Edition

Robert Mardian
Lawyer
Born: October 23, 1923
Died: July 17, 2006

ROBERT Mardian was among the most intriguing minor players in the
Watergate scandal.

He was a high Justice Department and Nixon campaign official who
was convicted for his part in the scandal, only to have the sentence
overturned on appeal.

He led the administration’s pursuit of alleged subversives and
troublemakers.

But he was also briefly rumoured to have been "Deep Throat", the secret
source who helped bring about the resignation of the 36th US president.

The son of an Armenian immigrant from what had been then the Ottoman
Empire, Robert Charles Mardian was born in Pasadena, California.

He was a member of the large Californian contingent in and around
the Nixon administration.

In 1972 he was appointed a lawyer and "co-ordinator" for Nixon’s
re-election committee, the infamous CREEP (Committee To Re-Elect
the President), which was behind the break-in attempt on June 17,
1972, at the Democrats’ national offices in the Watergate building
in Washington, D.C.

Despite his enthusiasm at the Justice Department for bugging and
surveillance operations, Mardian insisted he had known nothing of
the incident. Prosecutors contended that, on the orders of CREEP’s
director, Mardian phoned one of the burglars, telling him to contact
the Attorney-General to have the leader of the group released from
custody before his identity was discovered.

Thus Mardian became one of the Watergate Seven indicted on March 1,
1974, five months before Nixon quit.

In January 1975, he was convicted on one count of conspiracy to hinder
the Watergate investigation.

The following year his conviction was quashed.

Mardian, 82, died in San Clemente, California.

DOZENS KILLED IN BAGHDAD BLASTS, BUT U.S. IRAQ DISPUTE CAUSE
Qassim Abdul-Zahra

AP Worldstream
Aug 14, 2006

Residents dug through wrecked buildings Monday in a predominantly
Shiite neighborhood devastated by explosions that killed at least 47
people. Iraqis blamed bombs and rockets, but U.S. military experts
pointed to a gas explosion.

U.S. ordnance teams went to the Zafraniyah neighborhood and found
"no evidence" of anything other than a "significant gas explosion"
Sunday night followed by subsequent blasts related to a gas leak,
the U.S. military spokesman, Maj. Gen. William B. Caldwell, said.

"If in fact there had been a hole in the ground, there would be some
residue from a Katyusha rocket if one had been fired there," he told
reporters without elaborating.

Iraqi officials insisted the damage was caused by car bombs and a
rocket barrage fired from Dora, a mostly Sunni district _ evidence
that sectarian violence roiling the capital shows no sign of stopping
despite an additional 12,000 U.S. and Iraqi troops soldiers rushed
in to enforce peace.

Prime Minister Nouri al-Maliki’s office said in a statement that the
attack started with a number of Katyusha rockets falling on a building
followed by a car bomb, more rockets on a post office, a motorcycle
bomb near a public library and mortar rounds near an Armenian church.

The statement said 47 people were killed and 100 injured.

"The terrorists planned this ugly crime so that it would inflict
maximum harm on innocent civilians, and this is proof of their
deep-rooted hatred for Iraq and their attempt to incite sectarianism,"
al-Maliki said.

A Sunni extremist group, the al-Sahaba Soldiers, claimed responsibility
in a statement posted on the Internet Monday. It said its fighters
exploded two booby trapped cars and fired mortar shells, killing
"more than 50 malicious Shiites."

The statement warned the Shiites "to stop killing unarmed Sunnis and
stop supporting the Crusaders," a reference to Americans. "Or else,
wait for operations that will shatter your neighborhoods, God willing."

The group had also claimed responsibility for a similar attack on
July 27 on Karradah, another mostly Shiite neighborhood, which had
killed 31 people.

In Zafraniyah, huge slabs of concrete that once were ceilings in an
apartment building lay atop each other in a heap at one spot.

A middle-aged man in a bloodstained disdasha, the traditional
Arab robe, wandered aimlessly, hitting his face with his hands in
grief. Residents said his six children were crushed to death when
his house collapsed.

"This is terrorism against the whole nation," said Ali al-Sayedi,
a municipal council member.

A pedestrian bridge, ripped off its mooring, crushed a car
underneath. The roof of a house displayed a wide hole, exposing the
steel reinforcing rods bent inwards. The blackened wreckage of an
overturned car lay nearby.

The explosions Sunday night reinforced worries about the Sunni-Shiite
violence that American officials consider the greatest threat to
Iraq’s stability more than three years after the U.S.-led invasion
toppled Saddam Hussein’s regime.

On Sunday, U.S. and Iraqi soldiers began searching more than 4,000
homes in the Sunni neighborhood of Amariyah in Baghdad while conducting
a similar operation simultaneously in the Shiite district of Shula,
the U.S. command said.

Much of the violence has been blamed on Sunni insurgents and Shiite
extremists, who have been waging retaliatory attacks since the bombing
of a Shiite mosque on Feb. 22. The United Nations estimates nearly
6,000 Iraqis were killed in May and June.

Caldwell, the U.S. spokesman, said Shiite extremists here are receiving
arms, munitions and training from Iran. But he added it is not clear
if Iran’s Shiite clergy-dominated government is involved.

"We know that some Shiite elements have been in Iran receiving
training …

We do know that weapons have been provided and IED technology been
made available to these extremist elements," he said, referring to
"improvised explosive devices" _ the homemade bombs that are widely
used in the anti-U.S. insurgency and sectarian violence.

On Sunday, unidentified gunmen killed Col. Mahjoub Khalaf Ghulam,
a commander in the Iraqi oil protection force, in Tikrit, 80 miles
north of Baghdad, police said. More than 250 Oil Ministry officials,
workers and oil security personnel have been assassinated since the
fall of Saddam.

At least 10 other people were killed Monday in shootings and bombings
across Iraq, including three blacksmiths shot by gunmen in the northern
city of Mosul.

A ug 9 2006

A Day in the Life of a Relief Center Volunteer: Armenian Activist
Reports from Beirut

Maral Mgrditchian sent us this exclusive report on her experiences
with Mowatinun, a relief organization staffed by young activists from
across the Lebanese confessional spectrum.

As I try to make my way through a small crowd of people to get to
the abandoned building where Mowatinun has set camp, I hear them ask
for a so-called "Nayla", whom they have probably never met before,
and wouldn’t recognize if they saw her, but have heard about by word
of mouth. They must have heard, as many have before, that they need
to ask for "Nayla from Mowatinun" to seek for help.

These people standing outside the alley will most probably come to
add to the list of more than 4000 people Mowatinun is already taking
care of, a number which is increasing by the day with each
bombardment of a new area in the South of the country, or in Beirut.

Inside the building, the central hall on the first floor is full of
young volunteers. Everyone is busy. Some are preparing food units to
be sent to the registered families, while the medical unit is taking
care of organizing the medication supplies to be coupled with the
food. Going up, the second floor is bustling with another group
dealing with administrative issues such as fundraising, budgeting,
accounting, web developing, contacting the displaced families…

A volunteer comes running up announcing the arrival a food supply
delivery that needs to be brought to the warehouse. So everyone
leaves his/her assigned original task in order to form a human chain
connecting the supplies truck to the warehouse. The only missing
person is me as I’m off to meet the supplier and settle the invoice.

Looking at the invoice, I notice red dashes on several products.
Those are the products that he (and most probably all our suppliers)
has run out of. No more tuna, sardine, infant milk and diapers for
babies. They are either not available on the market, or they have
become too expensive.

Our supplies are getting scarce, as are the means to transport them.
Volunteers who use their own cars to deliver the supplies to the
families dispersed in Beirut and its suburbs, are currently extremely
worried that if in two days fuel is not delivered to the country, it
will be impossible for them to accomplish their task.

It is really inspiring to see how the spontaneous initiative of a few
devoted Lebanese citizens could attract, in a few days, such a
significant amount of young volunteers working restlessly, and thus
gaining the trust of donors, nationally and internationally. Those
donors are, as a matter of fact, a crucial factor in nurturing
Muwatinun’s ongoing vigor in its commitment to assist our displaced
citizens and to overcome the current humanitarian crisis.

Maral Mgrditchian
Accounts Manager, Mowatinun

DPM TO ACQUIRE 80% INTEREST IN DENO GOLD ARMENIAN PROJECT ADDS 300,000 TONNES TO ANNUAL PRODUCTION

Market Wire Incorporated
Aug 10, 2006

Dundee Precious Metals Inc. (TSX: DPM) ("Dundee Precious", "DPM" or
"the Company") is pleased to announce that it has signed a Share
Purchase Agreement to acquire 80% of Vatrin Investment Limited
("Vatrin"), a private entity.

Vatrin holds 100% of Deno Gold Mining Company ("Deno Gold"), with
its principal asset, the Kapan Mining Project, located in Southern
Armenia. The transaction, amounting to US$22 million (representing
US$14 million for Vatrin shares and approximately US$8 million of
debt), plus an additional US$10 million investment commitment for
mine expansion, is expected to close by the end of this month.

The Kapan Mine has annual production of 300,000 tonnes of ore from
its current underground operations, where precious metals contribute
to approximately 50% of its revenues, based on long term prices. DPM
intends to expand the underground operations and introduce open pit
mining to maximize the present mine milling capacity of over 1 million
tonnes/year. The concentrate produced at Kapan is readily saleable
due to the lack of impurities or deleterious elements.

"We are excited to add this Project to our production pipeline,"
said Jonathan Goodman, President and CEO of Dundee Precious. "It
is our intention to invest the necessary resources and engage our
operations and exploration teams to apply their expertise and bring
this Project to its full production potential," he added.

As part of Deno Gold’s plan for the development of the Kapan Mining
Project, a loan was sought and approved by the European Bank for
Reconstruction and Development for US$4.5 million after undertaking
standard due diligence. The proceeds have been used for capital
equipment and environmental improvements.

The mining operation is based on two deposits, a copper, minor
gold-silver underground mine, known as Central, and a polymetallic
deposit of copper, gold, silver, zinc and minor lead, known as
Shahumyan, which remains open at depth, to the North and possibly to
the South. It is located approximately 1.5km from the town of Kapan
and some 320km south of the Armenian capital of Yerevan. Concentrates
from the project are transported by road to the town of Ararat (60km
south of Yerevan) where they are offloaded onto the rail system for
transport to the Black Sea via Georgia.

Resources

As part of standard Soviet era practice, extensive diamond drilling
and underground development was undertaken at both the Shahumyan
and Central deposits. For example, databases compiled by Deno Gold
based on Soviet era records, indicate that over 290,000m of surface
and underground diamond drilling and 32,000m of underground channel
sampling was completed to assess the Shahumyan deposit. No drill core
remains from the Soviet era exploration programs. Based on information
compiled by Deno Gold, Soviet era reports prepared for, and reportedly
approved by, the Armenian government listed the following combined
C1 and C2 resources for the Shahumyan and Central deposits.

It is understood that the resources were compiled using a sectional,
polygonal estimation method, however, the exact estimation parameters
are not known.

As part of its due diligence process, DPM staff independently collected
over 700kg of samples throughout the accessible sections of the
Shahumyan deposit for assay, mineralogical studies and metallurgical
testwork. Assaying of the DPM samples confirmed the overall tenor of
the mineralization. In addition, mining and processing of the deposit
since Deno Gold’s acquisition of the project in 2003 has confirmed
the tenor of the deposit. DPM has also independently sampled the mill
feed and tails from the processing plant, including reference samples
from previous years of production.

DPM plans to undertake an extensive drilling programme as part of
its proposed activities in order to confirm the scale of the deposit
and to enable a NI 43-101 compliant resource to be estimated and to
be used as the source for mine scheduling as part of a definitive
feasibility study.

All resource estimates quoted herein are based on prior data and
reports obtained and prepared by previous operators and information
provided by the State. The Company has not completed the work necessary
to verify the classification of the mineral resource estimates. The
Company is not treating the mineral resource estimates as NI 43-101
defined resources verified by a qualified person. The historical
estimates should not be relied upon. These properties will require
considerable further evaluation which DPM’s management and consultants
intend to carry out in due course.

Geology and Mineralization

The prolific Tethyan Mineralized Belt passes through Southern
Armenia. The belt is host to world class porphyry copper-gold,
polymetallic vein array and epithermal gold-silver deposits. The same
belt is the host to DPM’s Chelopech deposit and the deposits of the
Bor area in Serbia.

At Shahumyan, mineralization is hosted in strongly altered dacite,
andesite and basaltic host rocks. The vein arrays at Shahumyan
cover an area of over 2.5km by 1.5km and are known to extend for at
least 400m vertical depth. The main ore minerals are chalcopyrite,
sphalerite, pyrite and minor galena. The Central deposit is a
quartz-carbonate-sulphide (chalcopyrite and pyrite) vein array with
strong similarity to porphyry related mineralization.

None of the deposits contain material quantities of deleterious
elements which would act as penalties in a concentrate.

Processing

A crushing and flotation plant has been developed at Shahumyan
using typical Soviet era construction and layouts. After primary
and secondary crushing, material is transported to a storage area by
conveyor to supply the concentrator. The current Shahumyan and Central
ore (crusher product size of 30-50mm) passes through a rod-mill,
followed by a ball mill and a small re-grind mill.

The primary cyclone overflow feeds the flotation circuit comprising
conventional Russian Denver style flotation cells to differentially
float a gold rich copper concentrate and a zinc concentrate. There
are three main thickeners, each 24m diameter, one for each type of
concentrate produced (Central mine copper, Shahumyan copper-gold
and Shahumyan zinc) and one small 8m diameter thickener serving the
un-commissioned lead concentrate circuit. Thickened concentrates are
then dried using vacuum filters producing a copper (high gold and
high silver) concentrate and a separate high zinc (gold – silver)
concentrate.

DPM’s assessment of the plant suggests that it is capable of 1 million
to 1.25 million tonnes per year throughput, and capital has been
budgeted to improve current metal recoveries.

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 owns a 100% interest in the Back River gold exploration project
in Nunavut, Canada and has agreed to acquire an 80% interest in the
Kapan Mining Project in Armenia. The Company also holds a significant
and strategic portfolio of investments in the precious metals and
mineral related sector.

FORWARD-LOOKING STATEMENTS

This news release may contain certain information that constitutes
forward-looking statements. Forward-looking statements are frequently
characterized by words such as "plan," "expect," "project," "intend,"
"believe," "anticipate" and other similar words, or statements that
certain events or conditions "may" or "will" occur. Forward-looking
statements are based on the opinions and estimates of management at
the date the statements are made, and are subject to a variety of
risks and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the
forward-looking statements. These factors include the inherent risks
involved in the exploration and development of mineral properties,
the uncertainties involved in interpreting drilling results and other
geological data, fluctuating metal prices and other factors described
above and in the Company’s most recent annual information form under
the heading "Risk Factors" which has been filed electronically by
means of the Canadian Securities Administrators’ website located
at The Company disclaims any obligation to update or
revise any forward-looking statements if circumstances or management’s
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking statements.

Contacts: Dundee Precious Metals Inc. Jonathan Goodman
President & Chief Executive Officer (416) 365-2408
[email protected] (mailto:[email protected])
Dundee Precious Metals Inc. Gabriela M. Sanchez Vice President
Investor Relations (416) 365-2549 [email protected]
(mailto:gsanchez@dunde eprecious.com).