New High-Grade Veins Discovered At Jerusalem

New High-Grade Veins Discovered At Jerusalem

June 7th, 2006

Vancouver, BC, June 7, 2005 - Dynasty Metals & Mining Inc. (TSXV: DMM; the “Company”) reports that it has discovered four new, high-grade, gold and silver quartz-sulphide veins at its 100% owned Jerusalem Gold Project, in southern Ecuador. The veins were discovered in the course of a surface reconnaissance program in the western sector of the project.

Management believes that these significant polymetallic veins - the Diablo, Externa, Baja and Colorado Veins - should add to the global resource estimate at Jerusalem, which currently stands at 585,100 measured and indicated ounces of gold from 1,446,700 tonnes of ore at an average grade of 12.6 g/t gold, and 710,130 inferred ounces of gold from 1,927,600 tonnes of ore at an average grade of 11.5 g/t from nine main veins (see news release dated February 10, 2005).

A total of 35 rock channel samples were taken from the four new veins as part of exploration that included the opening of the new adits and geological mapping and sampling over a two square kilometre area. The new veins comprise a parallel vein system hosted by granodiorite, which is understood to be a new host rock to veining at Jerusalem, as previous veining is situated within the Chinapintza Porphyry.

Assay results ranged from 16.3 g/t Au and 76 g/t Ag (17.57 Aueq) to 0.95 g/t Au and 11 g/t Ag (1.13 g/t Aueq*) over an average vein width of 0.5 metre. The strike lengths of each vein vary from 100 metres to 245 metres and are open-ended. Significant assay results are summarized in the following table.

Sample
Number
Gold
(g/t)
Silver
(g/t)
Gold Equivalent*
(g/t)
Lead
(%)
Zinc
(%)
Sample Width
(m)


Diablo Vein

J0103025

16.30

76

17.57

>1.00

0.23

0.4

J0103027

10.10

200

13.43

5.09

6.71

0.6


Externa Vein

J0103015

15.67

63

16.72

0.39

0.40

0.5


Baja Vein

J0103017

11.27

22

11.64

0.15

0.12

0.5


Colorada Vein

J0103029

9.00

124

11.07

3.25

4.14

0.4

(* Aueq = gold : silver = 1 : 60)

Ongoing Exploration

Future exploration at Jerusalem will include underground driving and tunnelling on the Teniente Vein - one of the main veins at Jerusalem, from which previous underground sampling results averaged 32.20 g/t Au, 657 g/t Ag, 2.3% Pb and 9.2% Zn over 0.5 metre widths. Trenching and sampling along the new veins in granodiorite for strike extensions is also planned.

About Jerusalem

The Jerusalem Gold Project comprises a single concession covering 225 hectares in the Sierra del Condor of the Ecuadorian Amazon region. The concession is located in a mineralized district that contains several styles of precious and base metals. The main feature is an intrusive-volcanic complex, the Chinapintza Porphyry, consisting of andesite, dacite and rhyodacite porphyry bodies, cut by numerous dykes of similar composition. The Chinapintza Porphyry hosts a 1.5 kilometre long vein system featuring at least ten main high-grade gold and silver veins.

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.
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