New Papayal And Cerro Verde Drilling Confirms Extensive Gold Mineralisation

New Papayal And Cerro Verde Drilling Confirms Extensive Gold Mineralisation

May 19th, 2005

Vancouver, BC, May 19, 2005 - Dynasty Metals & Mining Inc. (TSXV: DMM; “Dynasty” or the “Company”) reports that assay results from an additional 14 diamond drill holes have confirmed the presence of an extensive gold bearing system at Papayal and Cerro Verde in its 100% owned Dynasty Copper-Gold Belt, in southern Ecuador. All 23 holes completed to date in two separate, one kilometre by one kilometre, sections of Papayal and Cerro Verde have encountered quartz-sulphide veins.

The latest results include hole 05DDH13 at the La Esperanza zone in Cerro Verde, which intersected 50.40 metres grading 2.16 grams/tonne (“g/t”) gold and 21g/t silver, hole 05DDH19 at the La Foto zone in Cerro Verde, which intersected 8.6 metres grading 3.69 g/t gold and 66 g/t silver, and hole 05DDH10 at Papayal No.3, which intersected 15.03 metres grading 2.61g/t gold and 21g/t silver.

The widely-spaced exploration drilling is designed to test the extension to depth of high-grade gold and silver mineralization discovered at surface in soil and rock chip channel sampling and trenching programs (see Dynasty news releases dated September 20, 2004 and October 14, 2004).

Company President and CEO Robert Washer commented: “These results suggest the discovery by Dynasty of a significant new gold district with the potential for bulk tonnage gold and silver deposits. This district is an area in which there has been little previous exploration and no drilling. The potential of this discovery will be better understood as our drilling progresses.”

Exploration drilling continues at Papayal and Cerro Verde, with 1,910 metres (23 holes) now completed. Logging of drill core reveals that all holes completed to date cut quartz-sulphide veins and the majority of holes cut multiple quartz-sulphide veins and quartz stockworks. Additionally, assays for all of the first 20 holes for which results have been received show gold and silver mineralization.

The following table provides a summary of significant assay results from the first 20 holes of this program and highlights significant results from the most recently received assay data for holes 05DDH07 to 05DDH20. A summary of assay results for the first six holes in this program was reported in the news release dated March 7 2005. Assays for some holes are pending:

Hole #GOLD
(g/t)
SILVER
(g/t)
GOLD
EQUIVALENT*

(g/t)
LENGTH**
(metres)
FROM
(metres)
TO
(metres)


PAPAYAL


Papayal No. 3

04DDH03

1.53

602

11.56

2.65

113.1

115.75

05DDH05

17.38

723

29.43

3.33

7.05

10.38

05DDH06

5.67

21

6.02

1.2

31.45

32.65

05DDH07

3.1

172

5.97

1.57

30.15

31.72

05DDH10

2.61

21

3

15.03

51.2

66.23


Papayal No. 5

05DDH04

9.18

101

10.86

3.39

19.61

23

and

19.22

64

20.28

2.8

50.29

53.09

including

96.93

48

97.73

0.4

51.75

52.15

and

13.81

117

15.76

0.78

59.18

59.96


Papayal No. 1

05DDH12

1.01

115

2.93

1.12

51.38

52.5

and

1.38

160

4.05

1.7

55.4

57.1


CERRO VERDE


La Esperanza

05DDH13

2.16

21

2.51

50.4

21.9

72.3

including

3.92

116

5.85

4.65

22.7

27.35

including

5.21

21

5.56

4.63

40.64

45.27

05DDH14

2.05

10

2.22

3.85

36.95

40.8


Los Encuentros

05DDH16

4.31

63

5.36

5.65

22.85

28.5

including

10.65

96

12.25

1.3

27.2

28.5


La Gorda

05DDH17

3.53

18

3.83

3.72

32

35.72


La Foto

05DDH18

6.05

44

6.78

3.52

25.23

28.75

including

23.77

11

23.95

0.45

28.3

28.75

05DDH19

3.69

66

4.79

8.6

14.6

23.2

including

11.94

165

14.69

1.35

17.63

18.98


La Foto South

05DDH20

7.36

135

9.61

1.07

24.17

25.24

and

7.57

72

8.77

2.74

28.1

30.84

including

18.1

104

19.83

0.42

29.27

29.69

* Gold Equivalent = 60:1 Ag:Au ** Core length

The Dynasty Copper-Gold Belt includes seven copper-gold porphyry-style systems that have been identified to date. The 12 kilometre by 3 kilometre Papayal-Cerro Verde target area is located in proximity to two of these systems and includes at least twelve separate vein swarms.

Quality Control and Assurance

Drilling is by diamond drill, using an HQ size drill (63.6 mm) for increased drill sample volume. Core samples, each weighing between 1 kg and 3 kg, are collected and transported from the Papayal-Cerro Verde site for assay by the BSI Inspectorate laboratory of Lima, Peru. Standards are regularly inserted into the sampling sequence for quality control and a split of the core is maintained at Dynasty’s warehouse in Celica for check assay and metallurgical testing. Drilling is by Paragon Drilling, based in Cuenca, Ecuador.

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.

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@pemcorp.com or visit the Company’s website atwww.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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