Dynasty Confirms New Gold And Silver Discovery At Cola

Dynasty Confirms New Gold And Silver Discovery At Cola

July 28th, 2005

Vancouver, BC, July 28, 2005 - Dynasty Metals & Mining Inc. (TSXV: DMM; the “Company”) reports that rock sampling has confirmed the occurrence of extensive mineralization at the Cola area of its 100% owned 90 km by 20 km Dynasty Copper-Gold Belt, in south-western Ecuador.

Cola consists of quartz-sulphide vein swarms and stockworks and is located within a 12 km x 3 km area that includes the Papayal and Cerro Verde high-grade gold and silver discoveries. It was originally identified in initial reconnaissance sampling of the Papayal area that was reported by the Company on May 6, 2004.

The new rock sampling program at Cola was widely-spaced, covering five square kilometres. It consisted of channel sampling from surface outcrops of quartz-sulphide veining and stockworks.

Results from 64 rock samples taken have significantly extended gold and silver mineralization at Cola, returning best assay values of 6.26 g/t gold and 79 g/t silver over 8 metres and 30.10 g/t gold and 19 g/t silver over 0.7 metres in quartz-sulphide vein and stockwork structures.

The program identified new quartz-sulphide vein swarms and stockworks at Cola, the largest of which occur within an area 500 metres by 600 metres. Individual veins are visible in outcrop of up to 150 metres and widths varying from 0.3 metres to 10 metres. Three drill target areas have been outlined from this latest sampling program.

Company President and CEO, Robert Washer, commented: “With the recent work at Cola, and the on-going drilling program at Papayal and Cerro Verde, we continue to advance our understanding of the precious metal component of the Dynasty Copper-Gold Belt. Our objective now is to bring these discoveries into resources as rapidly and as efficiently as possible.”

Significant results from new rock channel sampling at Cola are presented in Table 1. Significant results from the previously-announced reconnaissance channel sampling at Cola are given in Table 2.


Table 1
New Sampling Results from Cola
SAMPLE
NUMBER
GOLD
(g/t)
SILVER
(g/t)
GOLD
EQUIVALENT*

(g/t)
WIDTH
(m)

D0803382

30.10

19

31.71

0.7

D0803375

10.43

165

15.73

0.5

D0803367

8.02

127

12.10

0.5

D0803371

9.08

12

9.46

0.4

D0803381

8.24

4

8.36

0.5

D0803376-9

6.26

79

8.80

8.0

D0803415

6.20

43

7.58

0.5

D0803423

5.88

17

6.43

0.4

D0803427

4.87

32

5.90

1.2

D0803370

4.39

22

5.10

1.0

D0803374

1.78

86

4.55

0.4

* Gold Equivalent = 60:1 Ag:Au

Table 2
Previous Results from Cola
SAMPLE
NUMBER
GOLD
(g/t)
SILVER
(g/t)
GOLD
EQUIVALENT*

(g/t)
WIDTH
(m)

DCL039

141.50

421

148.52

0.2

D0803178

34.59

268

39.06

0.5

DHS043

13.15

242

17.19

0.7

D0803187

16.07

3

16.12

0.2

D0803168

14.39

51

15.24

2.0

DCL038

13.65

51

15.40

0.2

* Gold Equivalent = 60:1 Ag:Au

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 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.
.