Dynasty And Iamgold Extend Option Period
June 30th, 2009
Vancouver, BC, June 30, 2009 - Dynasty Metals & Mining Inc. (TSX: DMM, “Dynasty” or the “Company”) is pleased to announce that IAMGOLD Ecuador S.A. (“IAMGOLD”) has agreed to extend by three months the option period during which Dynasty may purchase the remaining 1½% Net Smelter Returns Royalty (“NSR Royalty”) on certain concessions at the Company’s Zaruma Gold Project that were acquired from IAMGOLD in 2004. Dynasty will now have until September 30, 2009 to exercise the option.
In December 2007, the Company exercised its first option to purchase one-half of the original 3% NSR Royalty for US$1 million. The exercise price to purchase the remaining 1½% NSR Royalty remains unchanged at US$5 million.
Company President, Rob Washer, commented “I would like to thank IAMGOLD for their continuing cooperation and their agreement to extend the option period.”
About Dynasty Metals & Mining
Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador.
The Company has the near production Zaruma project, the advanced-stage Jerusalem project, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the Dynasty Goldfield.
Dynasty Metals & Mining Inc.
Robert Washer, President and CEO
For further information please visit the Company’s website at www.dynastymining.com, or please contact:
|Dynasty Metals & Mining Inc.|
Tel: (604) 687-0888
|Brisco Capital Partners Corp.|
Tel: (403) 262-9888
This news release includes “forward-looking information”, as such term is defined in applicable securities laws. Users of forward-looking information are cautioned that actual results may vary from forward-looking information contained herein. The forward-looking information includes, without limitation, the anticipated dates that the different phases of commissioning will be completed, the amount and grade of material that the Company plans to process, the timing and ability of the Company to mine and deliver material to the processing plant, the anticipated date of commencement of production, statements regarding the new regulations to the Mining Law and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking information was developed using the material factors or assumptions stated herein. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of gold, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Known risk factors include, among others, risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company’s limited operating history; uncertain mining legislation; the need to comply with environmental and governmental regulations; political and economic instability and general civil unrest in Ecuador; potential defects in title to the Company’s properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties, including those described in the Company’s Annual Information Form dated March 25, 2009 filed with the Canadian Securities Administrators and available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information except as required by law.