VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2011) - Dynasty Gold Corp. (News - Market indicators)(FRANKFURT:D5G) ("Dynasty" or the "Company") announces that it plans to complete a non-brokered private placement of up to 18,500,000 units at a price of $0.09 per unit for gross proceeds of $1,665,000. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at $0.12 for two years from closing. The Company will have the right to call the outstanding Warrants for expiry upon 30 days notice in the event that the closing price of the common shares of the Company on the TSX-V is above $0.25 for 10 consecutive trading days. Finder's fees may be payable on portion of the private placement. The units issued under the private placement are subject to four month hold period and the private placement is subject to the approval of TSX Venture Exchange.

The Company will use the proceeds of the private placement to fund exploration programs at the Golden Repeat property in Nevada and the Opinaca D property in Quebec, and for general working capital.

About Golden Repeat Property

The Golden Repeat property consists of 49 claims located on the north slope of the Midas Trough, along the Carlin Trend, within the Northern Nevada Rift. These claims host many geological similarities to the well-known Midas Gold District. Ten miles to the east of the property is Newmont's Ken Snyder mine (6.41 million ounce gold reserves as of 2007 at over 14g/t), an epithermal, bonanza-type gold-silver bearing system. Additionally, three major sediment-hosted gold mines, Barrick's Getchell and Pinson Mines and Newmont's Twin Creeks Mine, lie 10-15 miles west of the property. Two distinct targets exist on the property. One is a volcanic-hosted epithermal occurrence, similar to Newmont's Ken Snyder deposit. The other is a sediment-hosted, gold mineralization beneath the tertiary volcanic rocks. The property was drilled by Goldfields in 1992 to 1994 and Romarco in 1997/1998. The most recent work done on the property was in 2006.

About Opinaca D Property

The Opinaca D property consists of 188 claims over a surface area of 98 km2. It is situated in the emerging Eleonore gold camp in the James Bay region of Quebec, and sits on the Eastmain Greenstone gold belt. The property is located about 14 km northwest of Goldcorp's Eleonore deposit. The Eleonore deposit hosts over 3 million ounces of gold reserves at a grade of 7.56 g/t gold, and over 4 million ounces of inferred resources at a grade of over 10 g/t gold.

Extensive surface exploration work done by Eastmain Resources between 2005 and 2008 has identified a number of sediment–hosted gold targets, similar to Goldcorp's Eleonore deposit in geological setting. Twelve drill targets were identified by VTEM and four coincided with significant geochemistry anomalies.

Goldcorp is currently investing $1.4 billion to build an underground mine to produce 600,000 ounces of gold from 2014. The Eleonore mine will contribute 22% of Goldcorp's total gold production. Dynasty's Opinaca D property will benefit from Goldcorp's infrastructure building in the area. In particular, a planned 60 km road, providing access to the Eleonore property, will directly crosscut the Opinaca D property. Major access to the region includes a north-south paved highway (LG2) extending from Matagami to Radisson.

About Dynasty Gold Corp.

Dynasty Gold Corp. is a Canadian gold exploration company currently focused on gold exploration in North American. Two active exploration programs in Nevada US and Quebec, Canada are underway. For more information on the Company and its projects, please refer to the website www.dynastygoldcorp.com.

ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP.

Ivy Chong, President & CEO

This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.