Continued Positive Results From Papayal Stockworks Sampling In Dynasty Copper/Gold Belt

Continued Positive Results From Papayal Stockworks Sampling In Dynasty Copper/Gold Belt

October 14th, 2004

Vancouver, BC, October 14, 2004 - Dynasty Metals & Mining Inc. (TSXV:DMM; the “Company”) announces positive results from initial channel sampling on outcrops at Stockworks Nos. 1 and 2 on its 100% owned Papayal Copper-Gold Porphyry Project. The Papayal Project covers an area 4 km x 3 km, in which six high-grade gold/silver stockworks associated with the Papayal porphyry cluster system have been identified to date. Results from sampling on Stockwork No. 3 were reported on September 22, 2004.

A total of 36 leached outcrop channel samples were taken from quartz vein stockworks covering 200 m x 150 m and 400 m x 100 m, in Stockworks No. 1 and No. 2, respectively. Assays of these samples range from 0.19 grams/tonne (g/t) gold to 15 g/t gold and 0.9 g/t silver to 256.6 g/t silver from 22 rock samples in Stockwork No. 1 and 0.43 g/t to 36.70 g/t gold and 0.9 g/t to 268.4 g/t silver from 14 rock samples in Stockwork No. 2. Channel sample widths varied from 0.2 metre to 4.1 metres.

Significant sampling results are presented below:

Sample
Numbers
Sample
Length (m)
Gold
(g/t)
Silver
(g/t)
Equivalent
(g/t)*

D0803168-9

4.08.1328.6

D0803174-5

4.13.81165.6

D0803178

0.536.726840.8

D0803176

1.18.925712.9

D0803183

0.86.2136.4

D0803185

0.85.3586.2

D0803187-8

3.50.8101.0

D0803186

0.211.63712.2

D0803156

2.04.6916.0
    * A silver-gold ratio of 65 to 1 was used for gold equivalent calculation.
Based on these results, the Company will now proceed with a follow-up trenching campaign to define drill targets.

The Papayal Porphyry Project is one of six distinct porphyry projects established by the Company thus far within the 100% owned, 90 km long mineralized structural corridor in southern Ecuador that comprises the Dynasty Copper-Gold Belt. In its initial reconnaissance, mapping and sampling to date, the Company has identified over 20 separate porphyry structures in the Dynasty Belt.

Exploration of the Company’s properties is under the supervision, of Greg Whitfield, the Company’s Exploration Manager and a “qualified person”, as defined by National Instrument 43-101. Mr. Whitfield is responsible for the preparation of technical information in this news release. Samples are sealed on the property and shipped to the BSI Inspectorate laboratory in Lima, Peru for preparation and gold fire assay. Sample pulps are shipped by BSI Inspectorate to its laboratory in Reno, Nevada for silver and multi-element ICP analysis.

About Dynasty

Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador. For further information about the Company, please contact Murray Oliver at (604) 687-0888 Ext. 3 or info@pemcorp.com or visit the Company’s web-site atwww.dynastymining.com

Dynasty Metals & Mining Inc.
Robert Washer, President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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