Drilling Continues To Expand Subsurface Mineralization At Dynasty Goldfield

Drilling Continues To Expand Subsurface Mineralization At Dynasty Goldfield

June 22nd, 2006

Vancouver, BC, June 22, 2006 - Dynasty Metals & Mining Inc. (TSXV:DMM, the “Company”) reports that initial results from its 2006 exploration drill campaign on the 13 kilometre by 4 kilometre Dynasty Goldfield, in southern Ecuador, have continued to demonstrate the presence of widespread gold and silver mineralization to depth.

The 2006 program commenced on April 15, 2006, using two diamond rigs to test areas east and north-east of the Cerro Verde region of the Dynasty Goldfield. The drilling is widely spaced, over extensive vein systems of up to 3.5 kilometres (“km”) in strike length. Drilling with both rigs is continuing. A third rig is being mobilized to the site.

Company President, Rob Washer, commented: “Our original grassroots sampling and mapping at the Dynasty Goldfield discovered surface gold mineralization over an extended area. Accordingly, drilling in our first program, last year, and in the current program has been very widely spaced in an effort to provide an initial survey of the extent of the goldfield to depth. It is particularly significant that all of the holes in the current program for which we have results have encountered gold mineralization. These results continue to strengthen the resource potential of the project.”

A total of 13 holes totalling 1,438 metres have now been completed in the 2006 program. Assay results for the first seven holes have been received and significant results are tabulated below. Some results are pending:

Dynasty Goldfield Drilling Results - 2006 Program

HOLE #Gold
(g/t)
Silver
(g/t)
Gold
Equivalent*
(g/t)
Length**
(metres)
From
(metres)
To
(metres)


Cerro Verde


Flaca Vein System

06DDH59 (622468E;9543702N)

15.40

22

15.80

0.35

19.55

19.90

3.46

1

3.48

2.45

36.45

38.90

7.24

5

7.33

4.70

57.00

61.70

includes

27.80

11

28.00

0.95

60.75

61.70


06DDH60 (622418E;9543611N)

3.76

4

3.83

1.00

20.00

21.00

2.61

5

2.70

3.25

44.50

47.75


06DDH65 (622440E; 9543811N)

1.84

5

1.93

10.60

90.00

100.60

includes

5.63

3

5.68

1.20

91.70

92.90


Buele Vein System

06DDH61 (622471E; 9543600N)

3.95

1

3.97

0.67

45.93

46.60

2.52

1

2.54

3.40

89.60

93.00

2.73

2

2.77

2.43

100.64

103.07

5.53

2

5.57

0.92

144.98

145.90


Bonanza Vein System

06DDH62 (622677E; 9543753N)

2.06

7

2.19

4.50

21.70

26.20

includes

6.23

15

6.50

1.20

25.00

26.20


06DDH63 (622580E; 9543738N)

3.20

9

3.36

0.60

20.50

21.10


Iguana Vein System

06DDH66 (622890E;9545085N)

4.27

46

5.11

1.00

63.00

64.00

3.33

12

3.55

2.70

76.40

79.10

* Gold Equivalent = 55:1 Ag:Au, without giving effect to recoveries. ** Core length

Dynasty Goldfield
The Dynasty Goldfield is located in the canton of Celica, Province of El Oro, Ecuador, approximately 110 kilometres west of La Toma, the nearest commercial airport. The goldfield comprises seven mineral concessions covering 29,909 hectares in a largely unexplored area. Mineralization occurs within an area of approximately 30 km², in extensive epithermal gold/silver vein and stockworks systems that are likely related to porphyry intrusions at depth. The vein systems are hosted by Tertiary andesitic volcanics and appear to be open space filling during a major structural event.

The 2006 drill program is the second drilling campaign on the project. In the first drill campaign completed in 2005, 58 widespread diamond holes were completed for a total of 6,843 metres. High-grade gold and silver mineralization was intersected to depths of 220 metres (see news release dated September 22, 2005).

The current program tests areas east and north-east of previous drilling where an NI 43-101 compliant, independent study by Allen J. Maynard reported initial measured and indicated and inferred gold and silver resources estimates, earlier this year (see news release dated April 24, 2006).

Quality Control and Assurance

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 NI 43-101. Mr. Whitfield is responsible for the preparation of the technical information in this news release.

Mineralized core sections were sampled at approximately one metre intervals and cut in half using a diamond saw. Mineralized intervals reported are drill core lengths and may not accurately reflect the actual width of mineralization. Core recovery is on average 95%. One half of the core was archived at the core storage facility at Celica while the other half was crushed, pulverized and split by the BSI Inspectorate sample preparation laboratory in Quito, Ecuador. Pulp samples weighing approximately 100 grams were sent to the BSI Inspectorate assay laboratory in Lima, Peru for assay using the fire assay technique.

Dynasty Metals & Mining Inc.

Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador. In addition to its Dynasty Copper-Gold Belt, which includes the Dynasty Goldfield, the Company is currently working on two development-stage gold projects, known as the Jerusalem Project and the Zaruma Gold Project.

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

For further information, please contact Murray Oliver at (604) 687-0888 ext. 3 or info@dynastymining.com or visit the Company’s website atwww.dynastymining.com.

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