Dynacor: Custom milling capacity increases by 75% at Acari plant
Montr�al, Qu�bec, November 12, 2008 � Dynacor Gold Mines Inc. (TSX: DNG) is pleased to report that the ore milling capacity of its Acari plant has been successfully increased by 75% during the first nine months of 2008. This has led the Company to revise upwards its sales target for 2008. Management now expects to produce close to 35,000 ounces of gold, through custom milling, in 2008.
Milling capacity at the Acari plant reached 160 tons per day since the 15th of October, surpassing the Company�s target of 150 tons per day that had been planned for the end of 2008 (see Press Release dated January 16, 2008). The plant buys its ore from many different gold mining operations throughout the region.
The gradual increase in the milling rate from 90 tons per day to the current rate of 160 tons per day is due to new equipment that has been installed at Acari and the opening of a new ore purchasing office in Espinar/Cuzco (see Press Release dated April 16, 2008).
Despite the very difficult current economic environment, Dynacor Gold Mines has continued its growth. In fact, Jean Martineau the Company�s President and CEO has recently stated that �under the current volatile market conditions Dynacor Gold -because of its custom milling approach - is well positioned not only to survive but actually to grow since its base purchasing cost of gold ore is directly pegged to the world market price of gold.�
Furthermore, he underlined that �the company�s milling profit margin is not influenced by the price of gold at a given moment in time in contrast to most other more traditional mining companies. The Company plans to take full advantage of this in the coming year by continuing to grow as well as finance its ongoing exploration campaign.�
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold exploration and mining company, that has been active in Peru through its subsidiaries since 1996. The Company�s assets include the Acari, Casaden and Tumipampa exploration properties. The Acari mill produces gold by custom milling. Dynacor�s strength and competitive advantage comes with the experience and knowledge the Company has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.
For more information, please contact:
Jean Martineau
President & CEO
Dynacor Gold Mines Inc.
514 288-3224
Renmark Financial Communications Inc.
Barbara Komorowski : bkomorowski@renmarkfinancial.com
Ryan van de Polder : rvandepolder@renmarkfinancial.com
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