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Dunav Resources Announces a Significant Inferred Resource Estimate for its Tulare Copper-Gold Porphyry Project

300,500,000 tonnes grading an average of 0.27% copper and 0.26g/t gold for 1.8 billion pounds of copper and 2.5 million ounces of gold

LONGUEUIL, QUEBEC -- (Marketwire) -- 11/26/12 -- Dunav Resources Ltd. (TSX VENTURE:DNV) (the "Company" or "Dunav") is pleased to announce the initial resource estimate for the Kiseljak project area, part of its Tulare Copper-Gold Porphyry Project located in Southern Serbia.

The Kiseljak mineral resource, prepared by AMC Consultants Limited (UK) ("AMC"), an independent mining consulting firm, has been estimated at 300,500,000 tonnes grading an average of 0.27% copper and 0.26g/t gold in the inferred resource category for 1.8 billion pounds of copper and 2.5 million ounces of gold, using a 0.25% copper equivalent cut-off.

A summary of the Kiseljak Inferred mineral resource estimate using various cut-offs is tabulated below:


----------------------------------------------------------------------------
Cut Off      Million      Cu      Cu      Au      Au       S   Cu_eq   Au_eq
(Cu_eq %)     Tonnes     (%)(Bn lbs)   (g/t)   (Moz)     (%)     (%)   (g/t)
----------------------------------------------------------------------------
0.15           443.9    0.23    2.25    0.21    3.01    1.85    0.35    0.58
0.20           370.0    0.25    2.04    0.23    2.74    1.74    0.39    0.64
0.25           300.5    0.27    1.79    0.26    2.52    1.67    0.43    0.71
0.30           240.5    0.30    1.59    0.28    2.17    1.62    0.47    0.77
0.35           188.1    0.32    1.33    0.31    1.88    1.59    0.51    0.84
0.40           141.6    0.35    1.09    0.34    1.55    1.58    0.55    0.91
0.45           100.2    0.38    0.85    0.37    1.21    1.59    0.60    0.99
0.50            73.4    0.41    0.66    0.40    0.95    1.59    0.65    1.07
----------------------------------------------------------------------------

1.  The effective date of the mineral resource estimate is November 22,
    2012. 
2.  The copper price used in this estimate is the mean of monthly average
    London Metal Exchange copper spot prices for 2010, 2011 and 2012 and is
    $3.60/lb. The gold price used in this estimate is the mean of the
    monthly average spot gold prices for 2010, 2011 and 2012 and is
    US$1,500/oz. 
3.  The copper and gold equivalent cut offs, used by Dunav, are based on the
    in situ grades, using the following formulas: 
    --  (Using a gold price of US$48.23/gramme and a copper price of
        US$79.356/per cent) 
    --  Cu_eq = ((Au(i)48.23)+(Cu(i)79.356))/79.356 
    --  Au_eq = ((Au(i)48.23)+(Cu(i)79.356))/48.23 
4.  Second phase, extensive metallurgical test work is nearing completion
    and, based on information to date, along with possible projected
    throughput rates for the Copper-Gold Tulare Porphyry Project, typical
    mining costs and a range of processing costs and indicative ranges of
    processing recoveries it is, at this stage, believed by Dunav that
    possible cut off grades lie in the range of 0.15% CuEq to 0.25% CuEq. 
5.  Mineral resources, which are not mineral reserves, do not have
    demonstrated economic viability. The estimate of mineral resources may
    be materially affected by environmental, permitting, legal, title,
    taxation, sociopolitical, marketing, or other relevant issues. 
6.  The quantity and grade of reported inferred resources in this estimation
    are uncertain in nature and there has been insufficient exploration to
    define these inferred resources as indicated or measured mineral
    resources. 
7.  Totals and average grades are subject to rounding to the appropriate
    precision. 

The Tulare Copper-Gold Porphyry Project comprises several porphyry copper-gold targets including Kiseljak, Yellow Creek, Trlica and Calovica vis South and also includes the Bakrenjaca carbonate-base metal epithermal vein system; all target areas are located within 3,000 meters of the Kiseljak deposit. Dunav controls 100% of this newly identified porphyry cluster, located within the Lece Volcanic Complex.

G Mining Services Inc. (Montreal) have been contracted to manage the Preliminary Economic Assessment (PEA) of the Tulare Copper-Gold Porphyry Project.


1.  ADDITIONAL INFORMATION 

Drilling and Sampling


--  The Kiseljak resource estimate is based on 71 diamond drill holes, as at
    25th October 2012. Details of the drilling and sampling program, at the
    time of the database handover, are summarised in the table below.  

----------------------------------------------------------------------------
Item                                                 DD               Total 
----------------------------------------------------------------------------
HOLES                                                71                  71 
METERS DRILLED                                 29,734.7            29,734.7 
SAMPLES                                          29,836              29,836 
AVERAGE RECOVERY                                     94%                 94%
ASSAYS (Cu)                                                          29,836 
ASSAYS (Au)                                                          29,836 
ASSAYS (S)                                                           29,505 
BULK DENSITIES                                                        3,929 
----------------------------------------------------------------------------

--  Figure 1 shows the location of the Kiseljak deposit within the Tulare
    Copper-Gold Porphyry Project, whilst Figure 2 displays the drilling
    carried out to date (23rd November 2012) at Kiseljak. Figure 3 shows a
    typical cross section through the Kiseljak deposit. 
--  Diamond drilling has been carried out such that drill holes are always
    started using PQ core and then reduced to HQ triple tube (HQ3) once
    competent rock has been intersected. The diamond drill core size is kept
    as HQ or HQ3 for as long as possible. Drill core is carefully packed for
    transport to the sample processing facility in Tulare. Once the diamond
    core has been processed (including photography, geotechnical and
    geological logging, magnetic susceptibility measurement etc.) it is then
    transported to SGS Bor for sample preparation and analysis. 
--  The average core recovery is 94% in total. 
--  Drill hole collars were surveyed by differential GPS (DGPS) by staff
    surveyors (registered independent surveyors regularly audit Dunav's
    survey control and procedures). All drill hole collar locations were
    surveyed by DGPS. 
--  The diamond drill holes were down hole surveyed, on average, every 30
    meters using electronic survey equipment. 
--  Kiseljak has been drilled on a nominal 80 meter by 80 meter grid
    spacing. 
--  Diamond core sampling has been carried out using Dunav's detailed
    protocols throughout the entire drilling program. 

Density Measurements


--  Density measurements are routinely taken every three meters down hole
    from diamond drill core. The bulk density of the drill core segments is
    measured at the SGS managed laboratory at Bor using the industry
    standard wax-seal immersion method. The table below summarises the large
    number of density measurements for each rock type in the Kiseljak drill
    hole data set that have been collected and measured to date. The density
    data has been used for variographic analysis and ordinary kriging
    estimation in order to estimate the tonnage factors in the block model. 

----------------------------------------------------------------------------
                                            Mean Density                    
Lithology                                    (tonnes/M3)               Total
----------------------------------------------------------------------------
Pre-mineral porphyry (PO1)                          2.57               2,058
Intra-mineral porphyry (PO2, PO3)                   2.51                 647
Late-mineral porphyry (P04)                         2.58                  18
Metamorphic basement (MMB)                          2.59               1,361
Other (hydrothermal breccia,                                                
 magmatic breccia, fault gouge etc)                 2.53                 365
Total                                               2.56               4,449
----------------------------------------------------------------------------

Assaying


--  All Kiseljak drilling has been routinely assayed for copper (Cu), gold
    (Au), silver (Ag), molybdenum (Mo) and sulphur (S). 
--  The table below summarizes the primary and referee assaying that
    comprises the Kiseljak resource estimation database, at the time of the
    database 'close off' and handover to AMC (25th October 2012), along with
    the assay methods that have been used. 

----------------------------------------------------------------------------
Item                                  Au                Cu                 S
----------------------------------------------------------------------------
ASSAY METHOD          50g Fire assay/AAS    Aqua regia/AAS     Eltra furnace
PRIMARY ASSAYS                    29,836            29,836            29,835
REFEREE GENALYSIS                  1,933             1,932             1,888
REFEREE ALS VANCOUVER              2,030             2,030             2,030
----------------------------------------------------------------------------

--  An appropriate amount of quality control sampling and analysis has been
    completed, as part of Dunav's standard QAQC procedures, which is
    summarized below for copper and gold data. 

----------------------------------------------------------------------------
Item                                                  DD               Total
----------------------------------------------------------------------------
LAB DUPLICATES                                     1,408               1,408
LAB REPEATS                                        5,705               5,705
LAB SPLITS                                         1,631               1,631
REFEREE GENALYSIS (Cu)                                                 1,932
REFEREE GENALYSIS (Au)                                                 1,933
REFEREE GENALYSIS (S)                                                  1,888
REFEREE ALS VANCOUVER (Cu)                                             2,030
REFEREE ALS VANCOUVER (Au)                                             2,030
REFEREE ALS VANCOUVER (S)                                              2,030
BLANKS                                                                   602
INTERNATIONAL STANDARDS                                                2,235
----------------------------------------------------------------------------

Variography


--  Detailed variography has been carried out for the Cu, Au, S and bulk
    density data grade for use in the ordinary kriging estimations. Separate
    variograms models have been constructed for the defined mineralized
    zones, subdivided by oxidation state; completely oxidized (COX),
    partially oxidized (POX) and unoxidized (FRS). 
--  The table below summarises the modelled grade variography. 

----------------------------------------------------------------------------
                         Nugget    Structure 1    Structure 2    Structure 3
Zone    Oxidn.  Element   Value     Sill Value     Sill Value     Sill Value
                                                                            
----------------------------------------------------------------------------
North      COX       Cu    0.14           0.26           0.60               
                     Au    0.10           0.32           0.58               
                      S    0.24           0.16           0.59               
----------------------------------------------------------------------------
North      POX       Cu    0.10           0.30           0.40               
                     Au    0.05           0.31           0.64               
                      S    0.21           0.22           0.58               
----------------------------------------------------------------------------
PO1N       FRS       Cu    0.10           0.16           0.28           0.46
                     Au    0.08           0.32           0.36           0.24
                      S    0.13           0.17           0.71               
----------------------------------------------------------------------------
PO1S       FRS       Cu    0.08           0.40           0.52               
                     Au    0.06           0.49           0.45               
                      S    0.15           0.19           0.67               
----------------------------------------------------------------------------
PO2N       FRS       Cu    0.06           0.12           0.82               
                     Au    0.06           0.10           0.84               
                      S    0.12           0.13           0.76               
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                   Structure 1              Structure 2          Structure 3
Zone                 Range (m)                Range (m)            Range (m)
             X       Y       Z       X        Y       Z      X      Y      Z
----------------------------------------------------------------------------
North      118     118     118     330      330     330                     
             6       6       6     175      175     175                     
            97      97      97     595      595     595                     
----------------------------------------------------------------------------
North        9       9       9      88       88      88                     
            30      30      30      98       98      98                     
            94      94      94     771      771     771                     
----------------------------------------------------------------------------
PO1N        39      39      39      90       90      90    305    305    305
            59      59      59     152      152     152    342    342    342
            18      18      18     302      302     302                     
----------------------------------------------------------------------------
PO1S        86      86      86     191      191     191                     
            56      56      56     102      102     102                     
            26      26      26     354      354     354                     
----------------------------------------------------------------------------
PO2N        11      11      11     444      444     444                     
            16      16      16     897      897     897                     
            28      28      28     299      299     299                     
----------------------------------------------------------------------------

--  Variographic analysis was also applied to the density database. The two
    main mineralized zones, PO1N and PO1S, were used for variographic
    analysis and the parameters determined are listed in the following
    table. The variogram parameters were applied to the mineralized zones as
    follows: 
    --  PO1N parameters were applied to the PO2N and PO3N domains. 
    --  PO1S parameters were applied to the PO2S domain. 


----------------------------------------------------------------------------
                         Nugget    Structure 1    Structure 2    Structure 3
Zone         Oxidn.       Value     Sill Value     Sill Value     Sill Value
                                                                            
----------------------------------------------------------------------------
PO1N            FRS        0.19           0.24           0.30           0.26
PO1S            FRS        0.45           0.09           0.14           0.32
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                    Structure 1             Structure 2          Structure 3
Zone                  Range (m)               Range (m)            Range (m)
              X       Y       Z       X       Y       Z      X      Y      Z
----------------------------------------------------------------------------
PO1N         11      11      11     123     123     123    585    585    585
PO1S         40      40      40     100     100     100    252    252    252
----------------------------------------------------------------------------

Resource and Grade Modelling


--  Detailed interpretation of the geological and grade data has resulted in
    the modelling of 5 main zones of copper-gold mineralization. 
--  One-meter composites were used to define lithological boundaries,
    geological boundaries and the mineralized zone outlines. Five-meter down
    hole composites were used for statistical analysis, variography and
    grade estimation. The table below summarizes the number of five-meter
    composites within the various domains. 

----------------------------------------------------------------------------
Mineralized Zone                         Weathering Zone              Number
----------------------------------------------------------------------------
PO1N                                                 COX                 127
                                                     POX                 517
                                                     FRS               3,402
----------------------------------------------------------------------------
PO1S                                                 COX                 107
                                                     POX                  87
                                                     FRS                 763
----------------------------------------------------------------------------
PO2N                                                 COX                  25
                                                     POX                  30
                                                     FRS                 763
----------------------------------------------------------------------------
PO2S                                                 COX                   3
                                                     POX                   2
                                                     FRS                  81
----------------------------------------------------------------------------
PO3N                                                 FRS                  18
----------------------------------------------------------------------------
OTHER                                                                     10
----------------------------------------------------------------------------
TOTAL                                                                  5,935
----------------------------------------------------------------------------

--  Block model preparation and resource estimation has been completed using
    Datamine and various GSLIB program libraries. One-meter composites (the
    standard Dunav sampling unit) were used to define geological boundaries
    and mineralized wireframes, whilst five-meter down hole composites were
    used for statistical analysis, variography and resource estimation. The
    table below summarizes the block model parameters. 

----------------------------------------------------------------------------
Item                                      EAST          NORTH             RL
----------------------------------------------------------------------------
LENGTH (METERS)                          2,300          2,500          1,140
PARENT CELL (METERS)                        20             20             20
----------------------------------------------------------------------------

--  The following table summarizes the sub-blocking used to build additional
    detail into the block model 

----------------------------------------------------------------------------
Item                                      EAST          NORTH             RL
----------------------------------------------------------------------------
Topography                                  10             10              5
Mineralization                              10             10             10
Oxidation                                   10             10              5
Structures                                  10              5             10
Constraining Boundary                       10             10             10
----------------------------------------------------------------------------

--  The block model closely matches the volumes of the mineralized zone
    wireframes as shown in the table below. 

----------------------------------------------------------------------------
                    Wireframe Volume  Block Model Volume                    
                      (million cubic      (million cubic                    
Mineralized Zone             meters)             meters) Per cent Difference
----------------------------------------------------------------------------
PO1N                          571.89              570.57                -0.2
PO1S                          352.62              352.60                 0.0
PO2N                           46.46               46.42                -0.1
PO2S                            1.97                1.97                 0.0
PO3N                            2.18                2.16                -0.6
TOTAL                         975.13              973.72                -0.1
----------------------------------------------------------------------------

--  Resource estimation has been completed using the geostatistical
    estimation technique, Ordinary Kriging ("OK"). Bulk density has been
    estimated into the block model using ordinary kriging. Five main
    mineralized zones were defined, hosted within mineralized porphyries and
    mineralized basement rocks. Following statistical assessment, no upper
    cuts were applied. 
--  The search parameters used during Cu, Au and S grade estimation are
    summarised in the following table. A three-pass estimation approach was
    used in order to populate the mineralized zones with grade and density
    estimates, wherein the search ranges were steadily increased until the
    mineralized wireframes were filled with grade estimates. The minimum
    number of composites per hole was restricted to 6 composites, such that
    a minimum of two holes was required for a block estimate. 

----------------------------------------------------------------------------
                       Long Axis Orientation                   No of Samples
Zone                     Dip       Direction             Min             Max
                                                                            
----------------------------------------------------------------------------
COX                       90               0              12              36
POX                       90               0              12              36
FRS                      -60           N040E              12              36
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                                           Search Ranges (m)
                        1st Search           2nd Search           3rd Search
Zone                        Volume               Volume               Volume
                   X      Y      Z      X      Y      Z      X      Y      Z
----------------------------------------------------------------------------
COX               60    120     60    120    240    120    180    360    180
POX               60    120     60    120    240    120    180    360    180
FRS               60    120     60    120    240    120    180    360    180
----------------------------------------------------------------------------

--  The search parameters used for the density data are summarized below. 

----------------------------------------------------------------------------
                       Long Axis Orientation                   No of Samples
Zone                     Dip       Direction             Min             Max
                                                                            
----------------------------------------------------------------------------
COX                       90               0              12              36
POX                       90               0              12              36
FRS                      -60           N040E              12              36
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                                           Search Ranges (m)
                        1st Search           2nd Search           3rd Search
Zone                        Volume               Volume               Volume
                   X      Y      Z      X      Y      Z      X      Y      Z
----------------------------------------------------------------------------
COX              100    200    100    200    400    200    300    600    300
POX              100    200    100    200    400    200    300    600    300
FRS              100    200    100    200    400    200    300    600    300
----------------------------------------------------------------------------

--  The table below summarizes the proportion of blocks that were estimated
    on each estimation pass. 


----------------------------------------------------------------------------
Search Volume Estimation Pass                 Percentage of Blocks Estimated
----------------------------------------------------------------------------
Pass 1 - 1st Search Volume                                                41
Pass 2 - 2nd Search Volume                                                47
Pass 3 - 3rd Search Volume                                                10
Not estimated                                                              2
----------------------------------------------------------------------------

Grade-Tonnage Reporting


--  The Kiseljak mineral resource was estimated using the Canadian Institute
    of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral
    Resources and Reserves, Definitions and Guidelines prepared by the CIM
    Standing Committee on Reserve Definitions and adopted by CIM Council.
    The in-situ resource estimate is within the defined mineralized
    wireframes and is reported at a range of lower cut off grades. A
    comprehensive, second phase of metallurgical test work, to follow up on
    the work carried out in 2008, is being completed and will be used with
    the PEA to define the appropriate cut-off grade for the Tulare Copper-
    Gold Porphyry Project (Kiseljak). The PEA has been initiated and is
    being managed by G Mining Services Inc. of Montreal. 
--  The Kiseljak resource model has been categorized as Inferred Resources
    using the CIM Standards on Mineral Resources and Reserves, Definitions
    and Guidelines (November 2010). Follow up, targeted drilling will be
    planned to confirm the current geological interpretation, along with
    collection of additional assay data, in order to facilitate the
    elevation of the resource category from Inferred to Indicated. 
--  In the table below the reported tonnes, grade and contained gold have
    been rounded to the appropriate level of precision for the reporting of
    an Inferred Resource, and the numbers may not correlate exactly due to
    rounding errors. 

Kiseljak Inferred Resources - Grade-tonnage report


----------------------------------------------------------------------------
Cut Off    Million      Cu        Cu      Au      Au       S   Cu_eq   Au_eq
(Cu_eq %)   Tonnes     (%)  (Bn lbs)   (g/t)   (Moz)     (%)     (%)    g/t)
----------------------------------------------------------------------------
0.15         443.9    0.23      2.25    0.21    3.01    1.85    0.35    0.58
0.20         370.0    0.25      2.04    0.23    2.74    1.74    0.39    0.64
0.25         300.5    0.27      1.79    0.26    2.52    1.67    0.43    0.71
0.30         240.5    0.30      1.59    0.28    2.17    1.62    0.47    0.77
0.35         188.1    0.32      1.33    0.31    1.88    1.59    0.51    0.84
0.40         141.6    0.35      1.09    0.34    1.55    1.58    0.55    0.91
0.45         100.2    0.38      0.85    0.37    1.21    1.59    0.60    0.99
0.50          73.4    0.41      0.66    0.40    0.95    1.59    0.65    1.07
----------------------------------------------------------------------------

1.  See notes on page 1. 

Preliminary metallurgical test work on diamond drill core samples from Kiseljak, carried out in 2008 at SGS Lakefield in Toronto, Canada, has indicated that very high copper and gold recoveries are potentially achievable using typical grind sizes. Excellent flotation recovery characteristics were exhibited for both copper and gold, and a copper-gold concentrate with no deleterious elements was produced. A portion of the gold mineralization is recoverable by standard gravity methods, potentially enhancing the overall gold recovery. Preliminary grinding test work showed a medium to soft mineralization type with a bond work index of approximately 11kWhr/t. Further metallurgical test work is underway and an extensive program of additional metallurgical testwork is nearing completion.

Please see the following link to view all Kiseljak and Yellow Creek drill holes located spatially in three dimensions: http://www.corebox.net/properties/tulare-porphyry-project


2.  SAMPLING AND ANALYSIS 

The majority of soil samples have been assayed at the ALS Chemex laboratory, Perth, Australia. More recent soil sampling programs have been assayed at the SGS managed laboratory at Chelopech in Bulgaria using a combination of ICP-OES and ICP-MS, whereas gold has been assayed by low level detection fire assay method (50 gram sample charge) with an AAS finish. Trench samples were prepared at the laboratory facility at SGS Bor and the samples have been assayed at the SGS managed laboratory at Chelopech in Bulgaria or the SGS managed laboratory facility at Bor. Diamond drill core has been prepared at the laboratory facility at Bor and assayed at either the SGS managed laboratory at Chelopech in Bulgaria or the SGS managed laboratory at Bor. Trench and diamond drill samples have been assayed for gold by 50 gram fire assay with an AAS finish whilst copper, silver and molybdenum have been analysed using an aqua regia digest with an AAS finish. A one metre sampling interval has been used where possible for the Tulare Copper-Gold Porphyry Project diamond drilling program. Half core is routinely submitted to the laboratory for analysis. Following Dunav standard quality assurance procedures, a full suite of field and laboratory duplicates and replicates along with internationally accredited standards and blanks, have been submitted with each batch of samples.

Trench sampling was carried out as channels in the wall just above the trench floor on 2 meter intervals. Except where extensive soil cover is encountered, trenches were sampled in their entirety. The samples were routinely weighed prior to final bagging to maintain an even sample size and to avoid sampling bias in harder rock types. An average channel sample weight was maintained at 3 kilograms per meter, which produces a consistent sample weight approximating half HQ core samples. Field duplicate samples were taken every 20 samples and known standards were inserted into the sample stream after every 20th sample. A geological and structural log was completed as for diamond drilling. All data collected in the field was routinely entered into geology and structural geology spread sheets using Field Marshal software for subsequent entry to an acQuire database and validation.


3.  QUALIFIED PERSONS 

The Kiseljak resource estimate was undertaken by independent qualified person Chris Arnold MAusIMM CP(Geo) of AMC. Mr. Arnold of AMC has reviewed and approved the contents of this press release insofar as the Kiseljak mineral resource estimate is concerned.

AMC is completing a technical report for the mineral resource estimate in compliance with NI 43-101 to be filed on SEDAR within 45 days of this press release.

The other technical information contained in this press release was prepared and approved by Dr Julian F. H. Barnes, FAusIMM, MAIG, a special consultant to the Company. Dr. Barnes is a 'qualified person' within the meaning of that term under NI 43-101.

Previously released data refers to data included in the "Tulare Project, Serbia National Instrument 43-101 Technical Report" by Paul Mazzoni dated November 22, 2010 (the "Technical Report"), filed on SEDAR at www.sedar.com. Further information in respect of results, investigations, interpretations, quality assurance and quality control measures, along with geology, mineralogy, sampling, and analytical procedures is included in the Technical Report.

About Dunav Resources Ltd.: Dunav Resources is a mineral exploration company focussed on the acquisition, exploration and development of mineral properties in Serbia. Additional information about the Company is available on SEDAR at www.sedar.com and at www.dunavresources.com.

Dunav had approximately $4.2 million in its treasury at September 30, 2012, which it plans to use for the exploration and development of its mineral projects in Serbia. Dunav's issued and outstanding share capital totals 119,242,942 common shares, of which approximately 47.3% is held by Dundee Precious Metals Inc.

Cautionary Statement

This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward looking information in this news release includes information with respect to the mineral resource estimate and its potential expansion and upgrade to a higher level of confidence, the Company's plans to complete a preliminary economic assessment, the geological and economic potential of the Tulare Project, the results and interpretation of exploration activities and studies including results of preliminary metallurgical test work, and the timing and location of future work programs.

"Inferred Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. Investors are cautioned not to assume that all or any part of an inferred mineral resource reported in this news release will ever be upgraded to a higher category or to reserves.

Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Forward-looking information is subject to known and unknown risks and uncertainties, and depends on assumptions and other factors, all of which may cause actual results or events to differ materially from those anticipated or estimated in such forward-looking information. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Figures 1 to 3 are available at the following address: http://media3.marketwire.com/docs/Dunav_maps.pdf

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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