Drilling At Papayal/Cerro Verde Continues To Intersect Widespread Gold

Drilling At Papayal/Cerro Verde Continues To Intersect Widespread Gold

September 22nd, 2005

Vancouver, BC, September 22, 2005 - Dynasty Metals & Mining Inc. (TSXV: DMM; the “Company”) reports the most recent results from ongoing grassroots diamond drilling in the Papayal and Cerro Verde areas of its 100% owned, 90 km by 20 km Dynasty Copper-Gold Belt in southern Ecuador.

Gold and silver mineralization at Papayal and Cerro Verde is hosted by extensive quartz-sulphide vein swarms and stockworks within a 12 km x 3 km area. The latest drilling continues to intersect widespread gold and silver mineralization, near-surface and at depth, providing further encouragement that the areas will be amenable to a large, bulk mining operation.

To date, 47 holes have been completed on spacings of a minimum of 40 metres each, for a total of 5,293 metres. Most holes have been drilled to between 40 and 170 metres true depth, at an inclination of 45 degrees. The first-phase program is designed to test the extension to depth of ten outcropping high-grade gold and silver vein systems that have been discovered to date at Papayal and Cerro Verde.

Drill Results

Significant drill intersections are reported below, referenced by vein system. Details of drilling and vein systems can be viewed on maps on the Company’s web site at www.dynastymining.com. Previous drill results were reported in the Company’s news release dated July 13, 2005.

The best assay results from the most recent results were 12.4 metres at 4.26 grams per tonne (“g/t”) gold and 13 g/t silver in diamond drill hole 05DDH33 and from holes 05DDH40 and 05DDH36, which intersected 24.5 g/t gold and 364 g/t silver over 0.5 metres in the La Foto vein system, and 1.7 g/t gold and 8 g/t silver over 16.25 metres in the La Esperanza vein system, respectively.

Most holes encountered gold mineralization, in drilled widths up to 16 metres. Previously -results include hole 05DDH24, which intersected 25 metres grading 2 g/t gold and 8 g/t silver - as reported by the Company on July 13 2005.Additional drill assay results are pending.


HOLE #GOLD
(g/t)
SILVER
(g/t)
GOLD
EQUIVALENT*

(g/t)
LENGTH**
(metres)
FROM
(metres)
TO
(metres)


La Esperanza


05DDH35 (621455E; 9544352N)

1.80

11

1.98

4.40

104.60

109.00


05DDH36 (621580E; 9544340N)

1.65

8

1.78

16.25

98.75

115.00

includes

6.58

12

6.78

1.25

111.55

112.80

4.18

77

5.46

0.90

116.55

117.45


05DDH37 (621745E; 9544423N)

1.66

2

1.69

3.50

36.90

40.40

1.36

9

1.51

3.57

55.08

58.65


05DDH38 (621658E; 9544358N)

1.80

11

1.98

4.40

104.60

109.00


La Esperanza & Venado


05DDH27 (621642E; 9544418N)

2.49

21

2.84

7.35

45.65

53.00


05DDH33 (621581E; 9544266N)

4.26

13

4.47

12.40

4.60

17.00

includes

10.28

22

10.65

2.00

9.00

11.00

2.54

16

2.81

5.10

183.90

189.00

1.83

10

2.00

6.03

196.35

202.38

0.99

4

1.06

6.69

204.19

210.88

1.71

15

1.96

11.88

220.40

232.28

includes

6.80

39

7.45

1.60

221.95

223.55


Los Encuentros


05DDH31 (621986E; 9544106N)

1.31

26

1.74

5.00

26.15

31.15


05DDH32 (621878E; 9544090N)

4.09

8

4.22

1.60

12.80

14.40

3.79

16

4.06

5.20

27.70

32.90

2.16

13

2.38

3.00

34.80

37.80

1.81

10

1.98

7.90

48.85

56.75

&includes

9.84

34

10.41

1.00

53.00

54.00

1.70

7

1.82

3.50

60.50

64.00


La Foto


05DDH39 (622298E; 9544328N

6.37

18

6.67

1.00

76.87

77.87


La Foto & La Foto South


05DDH40 (622182E; 9544308N)

2.44

20

2.77

2.77

47.23

50.00

3.09

48

3.89

3.30

64.45

67.75

includes

16.90

144

19.30

0.50

67.25

67.75

3.80

42

4.50

4.75

70.25

75.00

includes

24.50

364

30.57

0.50

74.50

75.00

3.35

31

3.87

1.80

114.05

115.85

1.77

23

2.15

0.80

126.65

127.45

* Gold Equivalent = 60:1 Ag:Au ** Core length

About Papayal/Cerro Verde

The quartz-sulphide vein systems and stockworks at Papayal and Cerro Verde form part of the Dynasty Copper-Gold Belt in southern Ecuador, a well-defined north-east trending structural corridor 90 km long by 20 km in width. The Dynasty Belt hosts six major copper-gold porphyry-style targets, each with associated large-scale quartz-sulphide vein systems and stockworks.

To date, ten steeply-dipping, epithermal vein systems, associated with porphyry-style bodies, have been mapped and trenched in the Papayal and Cerro Verde areas. The vein systems strike north-south to east-west. Most of the systems are between 300 to 800 metres in strike length and range in width from 2 to 20 metres.

The regional veining and stockworks at Papayal and Cerro Verde, and associated porphyry-style systems, occur 70 km along strike from the Company´s Zaruma Gold Project, where past production is reported to have been approximately five million ounces of high-grade gold and 20 million ounces of silver. The Company’s technical team believes that the geological model for the gold and silver mineralization in the Papayal and Cerro Verde vein systems is the Hishikari deposit in Japan and the Ares deposit in Peru. Resources at Ares are reported to be 2 million ounces gold and 20 million ounces silver from one vein having a strike length of 1.5 km and varying in width from 4 to 12 metres.

Quality Control and Assurance

Core samples, each weighing between 1 kg and 3 kg, were collected and transported from the Papayal-Cerro Verde site for assay by the BSI Inspectorate laboratory in Lima, Peru. Standards are regularly inserted into the sampling sequence for quality control and a split of the core is maintained at the Company’s warehouse in Celica for check assay and metallurgical testing. Diamond drilling is being undertaken by Paragon Drilling based in Cuenca, Ecuador.

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@dynastymining.com or visit the Company’s website at www.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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