Sampling Identifies High-Grade Gold And Silver Veins In The Cola District Of The Dynasty Goldfield

Sampling Identifies High-Grade Gold And Silver Veins In The Cola District Of The Dynasty Goldfield

February 15th, 2007

Vancouver, B.C., February 15, 2007 - Dynasty Metals & Mining Inc. (TSXV: DMM, the “Company”) reports that ongoing channel sampling has identified additional high-grade gold and silver surface mineralization at the “Cola” district of the Dynasty Goldfield.

Highlights of channel sampling in the Cola district include 634.58 grams per tonne (“g/t”) gold and 297 g/t silver over 0.60 metres, and 90.93 g/t gold and 56.4 g/t silver over 0.50 metres.

Exploration Results

The Cola district is located at the eastern end of the 30 km² Dynasty Goldfield, in proximity to the Papayal and Cerro Verde areas. Following on from a successful exploration program at Cola in 2005 (see news release dated July 28, 2005), channel sampling has been ongoing in the district since August 2006. The samples included in this news release come from a two km² zone of mineralization.

Current trench and channel sampling at Cola is targeting the newly-discovered, north-west trending “Sol” vein, which has now been traced at surface over 600 metres, the “Gold” vein, which runs parallel to and about 30 metres apart from the Sol vein, and a suite of related veins to the north that have a similar trend.

The “Gold” vein has been sampled along 120 metres with an average width of 0.52 metres and an average grade of 102 g/t gold and 158.59 g/t silver. Additional high-grade results were obtained from a Catherine Wheel vein structure, located just north of these veins and south of the Francisco vein, which runs at right angles to them.

Details of significant assay results from recent surface channel sampling are set out in the table below:

Significant Results - Cola District Channel Sampling - Dynasty Goldfield, Ecuador

Sample
Number
Gold
(g/t)
Silver
(g/t)
Width
(metres)
Gold Eq.*
(g/t)

D1203693

634.58

297

0.60

639.98

D1203688

90.93

56.4

0.50

91.95

D1203689

69.43

265.4

0.40

74.25

D1203710

68.33

174.2

0.60

71.49

D1203644

51.40

89.2

0.60

53.02

D1203643

49.60

77.8

0.60

51.01

D1203676

36.70

62.2

0.60

37.83

D1203694

33.07

369.0

0.50

39.77

D1203687

31.30

54.7

0.50

32.32

D1203678

31.30

91.6

0.60

32.96

D1203708

24.33

13.4

1.00

24.57

D1203691

20.80

316

0.60

26.54

D1203682

19.53

29.4

0.60

20.06

D1203679

17.47

77.1

0.70

18.87

D1203685

17.47

21.3

0.70

17.85

D1203642

16.40

67.9

0.60

17.63

D1203692

16.00

30

0.50

16.54

D1203675

14.60

44.3

0.80

15.40

D1203699

14.27

116.7

0.50

16.39

D1203639

14.13

96.9

1.20

15.89

D1203652

14.13

150.0

0.40

14.40

D1203669

13.93

28.4

0.40

14.44

D1203698

13.27

73.5

0.40

14.60

D1203634

12.93

128.7

0.80

15.27

D1203653

11.13

30.2

0.40

11.67

D1203672

11.07

36

1.00

11.72

D1203677

10.20

24.9

0.60

10.65

D1203690

10.20

78.6

1.50

11.62

D1203629

10.07

5.7

0.60

10.17

D1203648

9.13

59.4

0.40

10.21

D1203631

8.06

28.6

0.40

8.58

D1203668

7.33

24.1

0.30

7.76

D1203637

2.39

399.0

1.40

9.64


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


The next program of field work in the Cola district will consist of further sampling of these veins, their extensions, and the intervening wall rocks. The results of this exploration will be used as the basis for an initial drill program.

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 in a mostly unexplored area. Mineralization occurs within a 30 km2 area in an extensive epithermal gold/silver vein system that is thought to be related to porphyry intrusions at depth. The vein systems are hosted by Tertiary andesitic volcanics and appear to be dilational structures.

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.

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

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

Dynasty Metals & Mining Inc.
Robert Washer, President and CEO

For further information, please contact Murray Oliver at (604) 687-0888 or info@dynastymining.com or visit the Company’s website atwww.dynastymining.com.

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