New Trenching At Papayal And Cerro Verde Yields High Grade Gold And Silver

New Trenching At Papayal And Cerro Verde Yields High Grade Gold And Silver

April 21st, 2005

Vancouver BC, April 21, 2005 - Dynasty Metals & Mining Inc. (TSXV: DMM; the “Company”) has discovered high-grade gold and silver mineralization in an extensive trenching program over twelve separate, epithermal vein swarms at its Papayal and Cerro Verde sites. Papayal and Cerro Verde are associated with porphyry-style bodies located within the Company’s 100% owned Dynasty Copper-Gold Project, which extends along a 90km x 20km mineralized corridor, in southern Ecuador.

The new trenching was guided by the results of previous surface sampling and initial drilling and was designed to define new drill targets. It comprised a total of 206 samples taken at 1.3 to 5 metre intervals from 138 trenches, with an average depth of 1.6 metres. In total, 992 metres of trenches were dug over approximately eight kilometres. Gold bearing quartz veins varied in width from 0.5 to 7 metres.

Significant high-grade gold and silver assay results are set out in the following table. Additional assays are pending.

TrenchMetres (g/t)Au (g/t)Ag (g/t)Aueg (g/t)*

P1

0.60

24.60

87.00

26.10

P6

0.70

22.83

109.00

24.42

P8

0.70

21.50

166.00

24.30

P9

1.00

17.20

117.00

19.20

P9

1.50

46.44

101.30

47.92

P11

0.90

59.80

39.50

60.40

P12

0.80

0.10

5143.00

85.70

PX

0.70

21.50

165.50

23.90

PY

1.30

17.17

117.00

18.90

P25

1.00

9.50

pending

pending

CV8

4.52

6.95

29.00

7.32

CV20

2.60

4.70

38.00

5.30

CV23

0.50

37.60

99.00

39.20

CV24

1.70

14.40

147.00

16.80

CV25

1.64

18.00

65.00

18.95

CV32

1.15

13.70

560.00

21.80

* Aueq (gold equivalent = 60:1, Ag:Au)


Papayal and Cerro Verde contain multiple mineralized vein swarms over a 12km x 3km area. As previously reported (News Release dated March 7, 2005), the Company recently completed an initial drilling program of six, widely-spaced holes at Papayal. Gold and silver mineralization was encountered in four of the six holes. Of note, drill hole 05DDH05 intersected 3.33 metres averaging 29.43 g/t Aueq* and hole 05DDH04 intersected 0.40 metres averaging 97.73 g/t Aueq*.

President and CEO Robert Washer commented: “This trenching demonstrates the widespread nature of the high-grade gold and silver veining at Papayal and Cerro Verde. The number and grade of these showings is particularly significant and exciting for us. Drilling will be expanded on targets identified by this sampling and results will be reported when available.”

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 web-site 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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