Dynasty To Acquire Additional Concessions In Portovelo-Zaruma Gold Camp
September 19th, 2005
Vancouver, BC, September 19, 2005 - Dynasty Metals & Mining Inc. (TSXV: DMM; the “Company”) has entered into an agreement to acquire three additional mineral concessions bordering its 100% owned Zaruma Gold Project. The concessions cover 1,427 hectares near the towns of Portovelo and Zaruma, in the El Oro Province of south-western Ecuador. Upon completion of this acquisition, the Company’s Zaruma project will include a total of 44 mineral concessions, covering an estimated 10,300 hectares.
Under the agreement with Sutter Gold Mining Inc. (“Sutter Gold”), the Company must issue 30,000 common shares and grant a 2% net smelter returns royalty in favour of Sutter Gold once the concessions are transferred to the Company. The Company is entitled to purchase one-half of the royalty at any time for $500,000. The agreement is subject to regulatory approval.
About the Zaruma Gold Project
The Company is the largest holder of mineral concessions in the historic Portovelo-Zaruma gold camp. An initial, independent study of its Zaruma Gold Project estimates that it contains an indicated gold resource of approximately 644,000 ounces and an additional, inferred gold resource of 817,000 ounces. A technical report prepared by an independent “Qualified Person” in accordance with National Instrument 43-101 is available for viewing at www.sedar.com.
The Company has commenced an engineering scoping study of the Zaruma project to serve as a basis for the further development of the project and for discussions with potential joint venture partners. In addition, the Company continues to explore Zaruma to increase and upgrade its estimated gold resources.
About the Company
Dynasty Metals & Mining Inc. is a Canadian based mining company focused on the exploration and development of mineral properties in southern Ecuador. It is currently working two development-stage gold projects, the Zaruma and Jerusalem projects, and a large grass-roots discovery, the Dynasty Copper-Gold Belt. Both the Zaruma and the Jerusalem gold projects contain independently-estimated gold resources, determined in accordance with the requirements of the Canadian Securities Administrators’ National Instrument 43-101.
For further information about the Company, please contact Murray Oliver at (604) 687-0888 Ext. 3 or firstname.lastname@example.org or visit the Company’s website at www.dynastymining.com
Dynasty Metals & Mining Inc.
Robert Washer, President and CEO
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