DC.PR.B Dundee Corporation

In accordance with regulatory requirements, Dundee Corporation
(TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) ("Dundee" or the "Company") announced today
that, through a wholly-owned subsidiary, it has acquired in a non-brokered
private placement (the "Private Placement"), 14,640,000 flow-through common
shares ("Shares") of Merc International Minerals Inc. ("Merc") at a price of
$0.25 per Share. Concurrently, an account managed by Ned Goodman Investment
Counsel Limited, a wholly-owned subsidiary of Dundee, has acquired 1,550,000
units ("Units") under the Private Placement at a price of $0.20 per Unit. Each
Unit is comprised of one common share in the capital of Merc and one-half of one
common share purchase warrant. Each whole warrant entitles the holder to
purchase one common share at an exercise price of $0.35 per common share for a
period of two years from the closing date. In the aggregate, these holdings
represent an approximate 18.86% interest in Merc on an undiluted basis or an
approximate 19.59% on a partially diluted basis. 


The position in Merc was acquired for investment purposes and may be increased
or decreased in the future as considered appropriate in light of investment
criteria, market conditions and other factors and in accordance with the
provisions of applicable securities legislation.

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