Drilling Continues To Develop Gold And Silver Mineralization At Papayal And Cerro Verde

Drilling Continues To Develop Gold And Silver Mineralization At Papayal And Cerro Verde

July 13th, 2005

Vancouver, BC, July 13, 2005 - Dynasty Metals & Mining Inc. (TSXV: DMM; the “Company”) reports results from ongoing drilling at Papayal and Cerro Verde in its Dynasty Copper-Gold Belt, Ecuador. Recent drilling continues to confirm the presence of extensive near-surface gold and silver mineralization and support the potential for an open pit, bulk tonnage mining operation.

Of note, the drilling has intersected wider gold and silver mineralization at depth than has been identified in outcrop. Significant intersections from the latest holes include 25.27 m at 2.0 g/t gold and 8 g/t silver in hole 05DDH24 and 14.0 m at 2.34 g/t gold and 10 g/t silver in hole 05DDH25.

The Dynasty Copper-Gold Belt is a north-easterly trending, 90 km by 20 km, corridor in south-western Ecuador. It is wholly owned by the Company and hosts at least six, large porphyry-style targets, some of which have been determined to have associated surface gold and silver mineralization in veining and stockworks. The belt is a grassroots discovery and is being systematically explored by the Company.

Drilling at Papayal and Cerro Verde

Exploration diamond drilling in the Papayal and Cerro Verde area now totals 3,084 metres, in 32 holes. The program is designed to test surface high-grade gold and silver mineralization along strike and at depth.

Drilling is widely-spaced over a 12 km x 3 km area of high-grade gold and silver quartz-sulphide veining, stockworks and alteration. To date, it has confirmed the presence of significant mineralization to depths of 180 m and remains open at depth. Results also indicate that some of the extensive high-grade vein swarms at surface have strike lengths of up to 1.5 km and develop into wide, well-defined stockworks at depth.

Highlights from the latest round of drilling from different vein structures are summarized below. Additional assay results are pending.


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

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


Los Encuentros


05DDH21 (622032E; 9544138N)

4.86

48

6.40

4.38

22.20

26.58

includes

16.06

16

16.57

0.30

26.04

26.34


Trapiche Labrado Creek


05DDH22 (621553E; 9543020N)

1.08

2

1.14

2.39

44.00

46.39

2.02

4

2.15

5.84

49.76

55.60

1.36

3

1.16

12.48

60.52

73.00

includes

4.30

5

4.46

1.00

71.32

72.32


05DDH23 (621477E; 9542943N)

0.87

1

0.90

1.22

28.38

29.60

2.30

2

2.36

0.44

35.00

35.44


La Esperanza


05DDH24 (621437E; 9544453N)

1.05

4

1.18

1.00

67.50

68.50

2.00

8

2.26

25.27

71.60

99.66

1.34

2

1.40

2.04

102.66

104.70


05DDH25 (621445E; 9544457N)

1.37

5

1.53

3.58

52.50

56.08

1.47

10

1.79

5.50

65.45

70.95

2.34

10

2.66

14.00

119.00

133.00

1.76

6

1.95

2.00

134.00

136.00

3.55

35

4.68

2.00

137.00

139.00

1.69

8

1.95

2.00

145.00

147.00

1.08

2

1.14

4.00

167.00

171.00

2.13

11

2.48

8.00

172.00

180.00

includes

7.66

27

8.53

1.00

173.00

174.00

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

Separately, an additional 600 metres of strike extension at Papayal has now been exposed on surface through trenching. Over 100 trench channel rock samples have been taken across the quartz-sulphide veins and stockworks (up to 70 m in width). Assay results are pending.

Quality Control and Assurance

Core samples, each weighing between 1 kg and 3 kg, are 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 meturgical 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 Metals & Mining Inc.

Dynasty 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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