Dynasty Goldfield Update - Cerro Verde Drilling And Cola Discoveries Continue To Expand Gold And Silver Mineralization

Dynasty Goldfield Update - Cerro Verde Drilling And Cola Discoveries Continue To Expand Gold And Silver Mineralization

June 6th, 2007

Vancouver, B.C., June 6, 2007 - Dynasty Metals & Mining Inc. (TSXV: DMM, the “Company”) reports that ongoing resource delineation drilling and channel sampling continue to expand known gold and silver mineralization at its 100% owned, 13 km by 4 km Dynasty Goldfield, located in the Dynasty Copper Gold Belt, Ecuador.

Highlights

  • Three drill rigs working full time at Cerro Verde, with 60 holes (9,488 metres) drilled since April 2006
  • Updated Cerro Verde resource estimates expected early in 3rd quarter
  • New high-grade gold vein sets being mapped and sampled at Cola in preparation for drilling
Company President, Robert Washer, commented: “Our exploration programs at the Dynasty Goldfield continue to discover high-grade vein swarms over a large area, encouraging our belief in the potential of the project to support large-scale, open-cut and underground mining. We expect project resources to continue to grow with drilling at Cerro Verde and our discoveries in the Cola district.”

Drilling at Cerro Verde District

The Company has continued to encounter widespread gold and silver mineralization in drilling on the Cerro Verde district of the Dynasty Goldfield.

In April 2006, the Company published the following initial resources estimates at the Dynasty Goldfield:

CategoryTonnesAueq*
(g/t)**
Gold
(g/t)**
Gold
(ounces)
Silver
(g/t)**
Silver
(ounces)

Measured

1,461,271

4.73

3.91

183,763

41

1,913,735

Indicated

1,867,112

4.95

4.01

240,659

47

2,849,200

Inferred

3,019,396

5.54

4.40

427,017

57

5,521,474


*Aueq ( gold equivalent) was calculated using a 50:1 silver to gold ratio,
without regard to metallurgical recoveries
** grams per tonne


These estimates were based on the results from 52 holes and 6,140 metres of core drilled in 2005.

Since these estimates, 60 new holes (9,488 metres) have been drilled in the Cerro Verde district using three rigs, two of which are owned by the Company. The results from 34 of these holes were published in 2006. The remaining 26 holes were drilled in 2007 and assay results have now been received for 21 of them.

To date, 2007 drilling has tested a total of 11 separate veins and related stockworks over an area of approximately 280 hectares. All 21 holes encountered significant gold/silver mineralization. Details of significant mineralized interval are set out in the Table 4 attached to this news release and will be available on the Company’s web site, shortly. Highlights of these intervals include the following:

Table 1: Highlights of 2007 Drilling -
Cerro Verde District - Dynasty Goldfield


Vein and Hole No.Au
(g/t)
Ag
(g/t)
Gold equivalent*
(g/t)
Width
(m)
From
(m)
To
(m)

Linderos Vein

3.2

33.0

3.8

6.8

57.8

64.6

Buele & Flaca Veins

2.9

16.8

3.2

8.0

131.4

139.3

includes

4.9

34.8

5.5

2.4

136.2

138.6

Flaca Vein

5.7

5.7

5.8

1.5

16.6

18.1

2.2

6.7

2.3

2.2

43.9

46.1

7.5

44.2

8.3

0.5

57.1

57.7

18.6

29.9

19.2

1.3

84.4

85.6

4.8

5.6

4.9

2.0

100.5

102.5

Iquana Vein

8.5

58.8

9.6

4.3

111.8

116.0

Santi Vein

9.4

0.7

9.4

1.7

88.3

90.0

Herradura Vein

3.1

18.1

3.4

3.7

30.7

34.4


* Gold equivalent is calculated using a 55:1 silver to gold ratio,
without regard to metallurgical recoveries.


Drilling is ongoing on the Cerro Verde district and is being planned for the Cola district (see below for details of recent exploration). An updated independent report on the Dynasty Goldfield resources is being commissioned and is expected early in the third quarter of this year. The report is expected to expand significantly last year’s initial resources estimates.

Exploration at Cola District

Channel sampling and trenching in the Cola district continues to encounter high-grade gold mineralization in new and previously-identified veins. Cola is located at the eastern end of the Dynasty Goldfield, approximately 3.2 kilometres from the Cerro Verde district. The high-grade trend now extends 1.2 km north-south and is from 400 to 600 metres wide.

Exploration has been ongoing at Cola since August 2006, following a successful exploration program in the area in 2005 (see news releases of July 28, 2005 and February 15, 2007). The present program consists of trench and channel sampling of high-grade vein swarms, their extensions, and the intervening wall rocks to confirm grade and continuity. Results are being mapped and compiled in preparation for imminent drilling.

Current sampling at Cola is targeting the following two areas, which are discussed in detail, below:

  • a 2 sq. km area that includes, among other mineralised structures, the recently-discovered, north-west trending “Sol” vein, the parallel “Gold” vein, and a Catherine Wheel vein swarm to the north; and
  • a newly-discovered gold vein set, located 1 km to the northwest of this area.
“Sol” and “Gold” Veins Area Sampling

The Sol and Gold veins run parallel about 30 metres apart and outcrop for 120 metres. The “Gold” vein has an average width of 0.5 metres and an average grade of 102 g/t gold and 158.6 g/t silver. The current program has also discovered a new vein that runs between and parallel to them, from which initial samples have assayed 167.4 g/t gold and 510 g/t silver over 0.6 metres and 44.5 g/t gold and 79.5 g/t silver over 0.60 metres.

Additional high-grade results were also obtained from the Catherine Wheel swarm of related veins directly to the north and northwest of these veins. The structure contains veins that strike out in all directions and that have all returned good gold and silver grades including 12.03 g/t gold and 114 g/t silver over 0.2 metres and 24.4 g/t gold and 114 g/t silver over 0.5 metres.

Assay results for a total of 128 samples taken from this area this year have now been received, of which 78 are greater than 3 g/t gold. Details of assay results of greater than 10 g/t gold equivalent* are set out in Table 2, below:

Table 2: Significant Results -
Channel Sampling February-April 2007 -
“Sol” and “Gold” Veins Area, Cola District, Dynasty Gold Field


Sample NumberGold
(g/t)
Silver
(g/t)
Gold equivalent*
(g/t)
Width
(m)

1203852

167.43

510.0

176.70

0.60

1203849

48.33

62.5

49.47

1.30

1203729

44.50

79.5

45.95

0.60

1203746

39.00

178.1

42.24

0.50

1203758

24.57

114.3

26.65

0.50

1203772

16.07

498.0

25.12

0.80

1203750

22.90

83.5

24.42

0.50

1203850

19.97

53.3

20.94

0.50

1203853

19.53

68.2

20.77

0.30

1203810

19.90

10.6

20.09

0.60

1203805

19.50

6.0

19.61

0.40

1203774

13.40

303.0

18.91

0.65

1203728

18.63

14.6

18.90

0.25

1203744

17.63

24.2

18.07

0.30

1203756

13.93

135.9

16.40

0.40

1203796

11.40

263.7

16.19

0.65

1203797

12.07

166.5

15.10

0.65

1203757

12.57

110.8

14.58

0.50

1203851

12.03

113.8

14.10

0.20

1203753

13.40

16.9

13.71

0.40

1203759

12.67

55.5

13.68

0.35

1203722

11.37

124.9

13.64

0.40

1203721

13.00

32.3

13.59

0.50

1203769

9.32

161.7

12.26

0.55

1203720

9.80

36.5

10.46

0.50

1203809

10.01

20.8

10.39

0.60

1203753

10.01

16.9

10.32

0.40

1203773

7.02

179.9

10.29

0.30

1203777

5.60

246.8

10.09

0.70


* Gold equivalent is calculated using a 55:1 silver to gold ratio,
without regard to metallurgical recoveries.


New Vein Set

The second area of current exploration at Cola is a newly-discovered set of high-grade gold veins located approximately one kilometre to the northwest of the “Sol” and “Gold” veins. Veins discovered to date run northeast/southwest and northwest/southeast, one of which, the “Oliver” vein is visible in outcrop for 200 metres, in a northwest/southeast direction.

Initial sampling from this area has been very encouraging, with best assays of 16 g/t gold and 498 g/t silver over 0.8 metres and 12 g/t gold and 166.5 g/t silver over 0.65 metres. Samples assaying over 5 g/t gold equivalent* are set out in Table 3, below:

Table 3: Significant Results -
Channel Sampling February-April 2007 -
Oliver Vein Set Area, Cola District, Dynasty Goldfield


Sample NumberGold
(g/t)
Silver
(g/t)
Gold equivalent*
(g/t)
Width
(m)

1203772

16.07

498.0

25.12

0.80

1203753

13.40

16.9

13.71

0.40

1203797

12.07

166.5

15.10

0.65

1203796

11.40

263.7

16.19

0.65

1203769

9.32

161.7

12.26

0.55

1203795

8.30

64.6

9.47

0.50

1203780

8.29

60.2

9.38

0.50

1203798

7.75

16.4

8.05

0.60

1203778

7.14

62.3

8.27

0.30

1203773

7.02

179.9

10.29

0.30

1203776

6.84

127.6

9.16

0.60

1203784

5.73

31.8

6.31

0.60

1203785

5.68

11.7

5.89

0.65

1203789

5.62

32.6

6.21

0.40

1203777

5.60

246.8

10.09

0.70

1203771

5.42

52.2

6.37

0.50

1203788

5.28

27.3

5.78

0.65

1203779

5.16

25.3

5.62

1.00


* Gold equivalent is calculated using a 55:1 silver to gold ratio,
without regard to metallurgical recoveries.


The continuing discovery of new vein sets increases the potential for the establishment of near-surface, high-grade gold resources in the Cola district. Exploration is ongoing as the Company continues to sample vein swarms, their extensions, and the intervening wall rocks to confirm their grade and continuity. Results are being mapped and compiled in preparation for a drilling program in the near future.

About the Dynasty Goldfield

The Dynasty Goldfield is located in the Canton Celica Province of Loja, Ecuador, approximately 110 kilometres west of La Toma, the nearest commercial airport. The project area comprises seven mineral concessions covering 29,909 hectares that were largely unexplored prior to the Company’s activity. Mineralization occurs in extensive epithermal gold/silver vein systems over the entire project area. The vein systems, hosted by Tertiary andesitic volcanics, are thought to be related to porphyry intrusions at depth.

The Company enjoys excellent relations with the local community and has had its full cooperation for its exploration programs.

Quality Control and Assurance

The preparation of the technical information contained in this news release was supervised by the Company’s Exploration Manager, Pippa Jeffcock, a “qualified person” as defined by National Instrument 43-101.

Drilling results reported reflect the width of mineralization in drill cores and may not reflect the true width of mineralization. Samples were sealed on the property and shipped to the BSI Inspectorate laboratory in Quito, Ecuador for preparation. Sample pulps were shipped by BSI Inspectorate to its laboratory in Lima, Peru, for gold fire assay, silver and multi-element ICP analysis.

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 two advanced-stage gold projects, Jerusalem and Zaruma, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the Dynasty Goldfield and Copper Duke.

The Company recently announced its intention to finance the development of Copper Duke through a new 60% owned publicly-traded subsidiary; and the creation of a joint venture with Mariana Resources Ltd. to explore properties held by the two companies at the southern tip of the Dynasty Copper-Gold Belt.

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:

Murray Oliver
Tel: (604) 687-0888
Email: info@dynastymining.com
www.dynastymining.com
Brisco Capital Partners Corp.
Gordon Aldcorn
Tel: (403) 262-9888
Email: Gordon@briscocapital.com


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

Table 4: Significant Results - 2007 Drilling -
Cerro Verde District, Dynasty Gold Field


Vein and Hole No.Au
(g/t)
Ag
(g/t)
Gold equivalent*
(g/t)
Width
(m)
From
(m)
To
(m)


Linderos Vein

DDH 113D

3.2

33.0

3.8

6.8

57.8

64.6

1.2

6.2

1.4

3.0

125.0

128.0

1.8

2.3

1.8

4.2

151.8

156.0

1.1

1.0

1.1

6.0

158.0

164.0


Buele and Flaca Veins

DDH 128 D1

2.3

2.0

2.3

1.7

7.1

8.8

1.7

1.9

1.8

2.2

70.9

73.0

2.4

2.8

2.5

3.5

97.1

100.6

includes

4.3

8.8

4.5

0.9

99.7

100.6

4.5

13.5

4.7

1.7

123.6

125.4

includes

5.2

2.0

5.2

0.8

123.6

124.5

2.9

16.8

3.2

8.0

131.4

139.3

includes

4.9

34.8

5.5

2.4

136.2

138.6


Overal Vein

DDH 122D

2.8

24.0

3.3

6.4

76.1

82.5

including

6.3

34.0

7.0

0.9

78.1

79.0

including

4.8

33.2

5.4

1.1

80.2

81.3

DDH 124D

6.5

3.3

6.6

1.0

43.8

44.7

including

6.1

27.4

6.6

1.9

98.4

100.3

including

8.5

30.4

9.0

1.2

98.4

99.5


Flaca Vein and Stockwork

DDH 121D1

5.7

5.7

5.8

1.5

16.6

18.1

2.2

6.7

2.3

2.2

43.9

46.1

7.5

44.2

8.3

0.5

57.1

57.7

18.6

29.9

19.2

1.3

84.4

85.6

4.8

5.6

4.9

2.0

100.5

102.5

1.5

38.6

2.2

1.3

117.7

119.0

DDH 120D

0.6

3.2

0.6

4.7

31.5

36.2

1.6

28.0

2.1

0.5

37.3

37.8

1.6

10.0

1.8

0.9

90.1

91.0

DDH 119D

1.9

1.8

1.9

0.5

67.1

67.6

2.5

4.3

2.6

2.6

76.3

78.9

1.4

1.0

1.4

1.7

92.3

94.0


Iguana Vein

DDH 111D

2.1

21.5

2.5

0.9

26.3

27.2

1.1

1.9

1.2

1.1

84.6

85.7

4.0

33.1

4.6

1.0

99.5

100.5

1.6

9.7

1.8

0.6

129.1

129.7

2.9

94.9

4.7

0.7

133.1

133.8

7.6

16.5

7.9

0.5

156.7

157.2

DDH 112D

1.4

19.7

1.7

2.8

73.4

76.2

1.9

13.9

2.1

0.6

175.1

175.7

2.2

7.1

2.3

5.0

200.3

205.3

DDH 155D

1.1

4.0

1.2

1.8

75.7

77.5

2.1

5.6

2.2

1.0

161.2

162.2

DDH 116D

8.5

58.8

9.6

4.3

111.8

116.0

1.3

2.9

1.4

1.0

160.4

161.4

4.5

42.9

5.3

1.8

211.7

213.5

1.0

6.7

1.1

0.5

214.0

214.5

1.9

16.5

2.2

0.4

216.1

216.5

DDH 118D

2.0

6.2

2.1

0.3

235.1

235.4


Santi Vein

DDH 123D

2.6

5.3

2.7

3.4

25.8

29.2

DDH 125D

0.9

2.8

0.9

3.5

79.9

83.3

2.6

11.1

2.8

1.4

90.9

92.3

1.0

2.3

1.1

2.3

93.5

95.9

DDH 130D

1.0

4.1

1.1

6.4

0.0

6.4

9.4

0.7

9.4

1.7

88.3

90.0


Foto Vein

DDH 127D

1.6

72.2

2.9

1.2

167.6

168.8

0.5

6.1

0.6

0.8

214.0

214.8

1.0

5.7

1.1

0.7

238.5

239.2

DDH 129D

2.0

11.2

2.3

6.8

92.5

99.3

includes

3.3

46.2

4.2

1.0

1.8

2.8

0.4

157.9

158.3


Herradura Vein

DDH 110D

3.1

18.1

3.4

3.7

30.7

34.4

1.6

6.3

1.7

1.4

89.0

90.4


Clavo Vein

DDH 114D

2.3

5.4

2.4

0.8

50.8

51.6


Extrin Vein

DDH 117D1

1.8

18.3

2.1

1.8

80.0

81.7


Uvy Vein

DDH 126D1

0.5

6.8

0.6

3.0

89.4

92.3


* Gold equivalent is calculated using a 55:1 silver to gold ratio,
without regard to metallurgical recoveries.
.