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Dunav to acquire Serbian assets from Dundee Precious Metals

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Dunav Resources Ltd. has exercised an option to acquire gold mining projects in Serbia from Dundee Precious Metals Inc.

The share swap deal announced Tuesday will give Toronto-based Dundee 47.5 per cent of the Quebec-based junior miner.

Dunav, based in the Montreal area, is focused on acquiring and exploring mineral properties in Serbia.

Dundee Precious is an international gold miner with operations mainly in Europe, Asia and Africa.

The company operates the Chelopech gold, copper and silver project near Sofia in Bulgaria and the Kapan operation, which produces gold, copper, zinc and silver concentrates, in southern Armenia.

Dundee Precious also runs the Tsumeb smelter, a concentrate processing plant in Namibia in southwestern Africa.

The Toronto company also holds stakes in developing gold properties in Bulgaria, Serbia, and northern Canada, including interests held through its majority owned subsidiary, Avala Resources Ltd., and a share of Sabina Gold & Silver Corp.



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