DYNASTY ENTERS INTO REVISED AGREEMENT TO
SPIN-OFF COPPER DUKE GOLD/COPPER PROJECT TO SBI
Vancouver, BC, April 15, 2008 - Dynasty Metals & Mining Inc.
(TSX: DMM, "Dynasty" or the "Company") has entered into
a revised agreement with SBI Skin Biology Incorporated ("SBI"),
to sell the core concessions of its Copper Duke gold/copper project to SBI.
The revised agreement replaces the agreement previously announced by the
Company on May 23, 2007 and is conditional upon, among other things, SBI
obtaining all necessary regulatory approval and SBI completing a concurrent
financing.
Under the terms of the revised agreement, SBI will now issue to the Company
58 million common shares and raise $6 million by way of private placement
of 15 million common shares at $0.40 each. The other terms of the agreement
announced on May 23, 2007 remain unchanged. As a consequence, upon closing,
the Company will still own approximately 60% of the issued and outstanding
shares of SBI and will have the right to nominate a majority of the SBI
Board of Directors.
Company President, Rob Washer, commented: "We are pleased to be moving
forward with SBI and wish to thank Ian Telfer and other SBI representatives
for their continued enthusiasm for the project. Upon completion, we will be
positioned to fast track our exploration plans at Copper Duke."
About Copper Duke
The Copper Duke project consists of 11 mineral concessions covering a
number of gold and copper porphyry occurrences in an area of approximately
100 square kilometres. The project is located in Catacocha (Paltas) county,
Province of Loja, Ecuador, approximately 60 kilometres south-west of La
Toma, the nearest commercial airport.
To date, a major copper-gold porphyry complex, EL Huato, and an
additional four porphyry copper systems and two gold targets have been
identified. Of the porphyry copper systems, Loma Redonda is
currently being explored, while three others, Rio Catamayo, Landaluma
and Barbasco are at the prospecting stage. Both of the gold targets,
Ningomine and El Palton, are being actively explored.
Rob Washer
President & Chief Executive Officer
About Dynasty Metals & Mining
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, Zaruma, which is nearing production, and
Jerusalem, as well as a highly prospective exploration project, the Dynasty
Copper-Gold Belt, which includes the Dynasty Goldfield, the Copper Duke
Project and the Marianna Joint Venture among other prospects.
Dynasty Metals & Mining Inc.
Robert Washer, President and CEO
For further information please visit the Company's website at www.dynastymining.com, or please contact
This news release includes "forward-looking information", as
such term is defined in applicable securities laws. The forward-looking
information includes, without limitation,the success of exploration
activities and other similar statements concerning anticipated future
events, conditions or results that are not historical facts. These
statements reflect management's current estimates, beliefs, intentions and
expectations; they are not guarantees of future performance. The Company
cautions that all forward-looking information is inherently uncertain and
that actual performance may be affected by a number of material factors,
many of which are beyond the Company's control. Such factors include, among
others, risks and uncertainties relating to exploration and development;
the ability of the Company to obtain additional financing; the Company's
limited operating history; the need to comply with environmental and
governmental regulations; political and economic instability and general
civil unrest in Ecuador; potential defects in title to the Company's
properties; fluctuations in currency exchange rates; fluctuating prices of
commodities; operating hazards and risks; competition; and other risks and
uncertainties, including those described in the Company's Annual
Information Form dated March 26, 2008 filed with the Canadian Securities
Administrators and available at www.sedar.com. Accordingly, actual future
events, conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. All statements are made as of the date of this
news release and the Company is under no obligation to update or alter any
forward-looking information.
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