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DGSE Reports Restated Financials For Fiscal 2010, Consolidated Financials For Fiscal 2011, And Financial Results For First And Second Quarter 2012

DGSE Companies, Inc. (NYSE MKT: DGSE) today announced its completion and filing of its restated Consolidated Financial Statements for the fiscal year ended December 31, 2010, its Consolidated Financial Statements for the fiscal year ended December 31, 2011, and its Forms 10-Q for the quarterly periods ended March 31, 2012 and June 30, 2012. DGSE has now completed its Form 10-K and 10-Q filing requirements with the Securities and Exchange Commission (“SEC”) and expects to regain compliance with the NYSE MKT listing requirements.

“I’m very pleased we have completed the restatement process and filed our appropriate financial statements, as it represents a fresh start after a long and arduous undertaking. Over the past ten months, our newly appointed executive team has worked diligently, with the assistance of outside accounting advisors, to evaluate and rebuild our financial statements,” said James Vierling, Chairman, Chief Executive Officer and President. “We are now at a pivotal point to focus our collective efforts on improving our business. We believe we have assembled a strong management team that embodies the expertise and vision we need to greatly improve the Company’s financial reporting and internal controls, to provide consistent and transparent shareholder communications and to execute on our growth strategies to provide enhanced shareholder value.”

Financial Restatement

As previously disclosed, the Company discovered accounting irregularities pertaining to financial statements filed by prior DGSE management. Current management engaged forensic accountants to analyze approximately five years of financial data from the Company and subsequently engaged additional professional accounting support to assist in the recasting and restatement of DGSE’s financials.

Current management has determined that the accounting irregularities were caused by three main factors:

(1) Inadequacies in DGSE’s internal processes and controls, including decisions made by prior management which current management does not believe to be in accordance with Generally Accepted Accounting Principles (GAAP);

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