Dundee Corporation Wins Tax Court of Canada Appeal

TORONTO, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Dundee Corporation (TSX: DC.A) (“Dundee” or the “Corporation”) is pleased to announce it has been successful in its appeals to the Tax Court of Canada, which disputed reassessments issued by the Canada Revenue Agency (“CRA”) for the 2014 tax year for both the Corporation and its wholly owned subsidiary Dundee Resources Limited. The Department of Justice consented to judgments allowing both appeals. Details of the appeals are included in Dundee’s Consolidated Financial Statements for December 31, 2024.

“We are satisfied to have reached a collaborative resolution with the Canada Revenue Agency,” said Lila Manassa Murphy, Executive Vice President and Chief Financial Officer of Dundee Corporation. “This settlement provides closure to a long-standing matter and allows us to dedicate our full attention to advancing Dundee’s core strategy of unlocking value for our shareholders through consistent returns and durable sources of cash flow.”

The decision impacts the 2014 tax year; however, the Corporation believes there were no material changes to its business model that would warrant a different outcome for subsequent tax years. The Tax Court has allowed the appeals and referred the matter back to the Minister of National Revenue for reconsideration and reassessment on the basis that Dundee’s filing position was correct. Dundee’s Consolidated Financial Statements for December 31, 2024, reports an amount of $12.2 million deposited with the CRA. While the Corporation has not yet received the reassessments it expects the refund to include interest less some related liabilities.

ABOUT DUNDEE CORPORATION:

Dundee Corporation is a public Canadian independent mining-focused holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. The Corporation is primarily engaged in acquiring mineral resource assets. The Corporation operates with the objective of unlocking value through strategic investments in mining projects globally. Our team conducts due diligence in order to assess the geological, technical, environmental, and financial merits and risks of each project and looks to deploy capital where it can either seek to generate investment returns or where the Corporation can collaborate with operating partners and take strategic partnerships through direct interests in mining operations.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Dundee Corporation’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dundee Corporation’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Annual Information Form of Dundee Corporation and subsequent filings made with securities commissions in Canada. Dundee Corporation does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

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