DYNASTY
SIGNIFICANTLY INCREASES GOLD AND SILVER
RESOURCE ESTIMATE AT DYNASTY GOLDFIELD PROJECT
Vancouver, BC, November 19, 2007 - Dynasty Metals & Mining Inc. (TSX:
DMM, the "Company") has received a new, independent estimate of
gold and silver resources for the Dynasty Goldfield project in southern
Ecuador.
The new resource estimate is based upon the results of the Company's
continuing trenching and drilling program in the Cerro Verde, Papayal and
Trapichillo areas of the Dynasty Goldfield. The database includes a total
of 5,473 assays from 20,499 metres (152 drill holes) of diamond drilling
and 6,678 metres of trenching from 967 trenches.
Table 1 - New NI 43-101 Compliant Resource Estimate
for Dynasty Goldfield
Resource
Category
|
Tonnes
|
Au eq1
(ounces)
|
Gold
(g/t)
|
Gold
(ounces)
|
Silver
(g/t)
|
Silver
(ounces)
|
MEASURED
|
3,155,000
|
539,200
|
4.6
|
470,000
|
35
|
3,560,200
|
INDICATED
|
3,515,000
|
628,700
|
4.8
|
544,300
|
38
|
4,340,000
|
INFERRED
|
7,652,000
|
1,313,800
|
4.7
|
1,151,700
|
34
|
8,337,000
|
1 - Au eq (gold
equivalent) includes gold and silver only (at 51:1 Silver:Gold)
A technical report supporting the new resource estimate is being prepared
by Allen J. Maynard, BAppSc(Geol), MAIG, MAusIMM, an independent,
"qualified person", as defined by National Instrument 43-101
("NI 43-101"). Upon electronic filing with the Canadian
Securities regulators and on the Company's website, it will be available
for viewing at www.sedar.com and www.dynastymining.com.
Company President and CEO, Robert Washer, commented: "We are pleased
with the results of this independent assessment. The Dynasty Goldfield is a
new discovery, associated with one of eight porphyry-style exploration
targets that we have identified to date in the Dynasty Copper-Gold Belt.
Before our initial campaign on the Dynasty Goldfield, none of these targets
had been previously drilled, or even systematically explored. This report demonstrates
both the potential of the belt and our ability to turn exploration dollars
into ounces in the ground.
With gold and silver occurring at surface along strike and with the ongoing
trenching program having identified additional large areas of high grade
gold and silver targets we expect that our ongoing exploration will
increase the estimated resources at the Dynasty Goldfield and demonstrate
the potential for underground and bulk tonnage mining".
The Dynasty Goldfield
The Dynasty Goldfield consists of seven concessions with mapped and sampled
veins and stockworks that cover an area of approximately 30 km? within the
Company's 100% owned Dynasty Copper-Gold Belt, in south-western Ecuador. It
includes the Papayal, Cerro Verde, and Trapichillo mineralized hydrothermal
vein systems, which lie on a north east trend over a distance of 13
kilometres. In April of 2006, the Company disclosed its first NI 43-101
compliant mineral resource estimate on Dynasty Goldfield. The estimate was
supported by a technical report dated April 21, 2006 prepared by Allen J.
Maynard, BAppSc(Geol), MAIG, MAusIMM, an independent, "qualified
person", as defined by NI 43-101. The technical report is available on
SEDAR. A summary of the resource estimate appears in Table 2 below:
Table 2 - Initial NI 43-101 Compliant Resource Estimate for Dynasty
Goldfield
Resource
Category
|
Tonnes
|
Au
eq2
(ounces)
|
Gold
(g/t)
|
Gold
(ounces)
|
Silver
(g/t)
|
Silver
(ounces)
|
MEASURED
|
1,461,000
|
221,210
|
3.9
|
183,700
|
41
|
1,913,000
|
INDICATED
|
1,867,000
|
296,463
|
4.0
|
240,600
|
47
|
2,849,000
|
INFERRED
|
3,079,000
|
535,255
|
4.4
|
427,000
|
57
|
5,521,000
|
2 - Au eq (gold
equivalent) includes gold and silver only (at 50:1 Silver:Gold)
The new estimate adds 286,300 gold ounces to the measured category, 303,700
gold ounces to the indicated category and 724,700 gold ounces to the
inferred category as well as 1,647,200 silver ounces to the measured
category, 1,491,000 silver ounces to the indicated category and 2,816,000
silver ounces to the inferred category.
Combined Total Resource Estimate
The Company now has, for its Dynasty Goldfield, Zaruma and Jerusalem
projects, combined total estimated resources as follows:
Table 3 - Combined Total Resource Estimate for Dynasty Metals and Mining
Estimated
Gold
Resources
|
Tonnes
(000)
|
Grade
(g/t)
|
Measured
(ounces)
|
Tonnes
(000)
|
Grade
(g/t)
|
Indicated
(ounces)
|
Tonnes
(000)
|
Grade
(g/t)
|
Inferred
(ounces)
|
Dynasty Goldfield
|
3,155
|
4.6
|
470,000
|
3,516
|
4.8
|
544,300
|
7,652
|
4.7
|
1,151,700
|
Zaruma
|
1,568
|
13.9
|
702,100
|
915
|
13.9
|
408,100
|
3,382
|
12.7
|
1,383,400
|
Jerusalem
|
602
|
12.6
|
239,730
|
864
|
12.5
|
345,370
|
1,927
|
11.5
|
710,000
|
Total
|
5,325
|
8.2
|
1,411,830
|
5,295
|
7.6
|
1,297,770
|
12,961
|
7.8
|
3,245,100
|
Estimated
Silver
Resources
|
Tonnes
(000)
|
Grade
(g/t)
|
Measured
(ounces)
|
Tonnes
(000)
|
Grade
(g/t)
|
Indicated
(ounces)
|
Tonnes
(000)
|
Grade
(g/t)
|
Inferred
(ounces)
|
Dynasty Goldfield
|
3,155
|
35
|
3,560,200
|
3,516
|
38
|
4,340,000
|
7,652
|
34
|
8,337,000
|
Zaruma*
|
n/a
|
n/a
|
n/a
|
n/a
|
n/a
|
n/a
|
n/a
|
n/a
|
n/a
|
Jerusalem
|
602
|
90
|
1,760,400
|
864
|
95
|
2,627,000
|
1,927
|
101
|
6,276,470
|
Total
|
3,757
|
44
|
5,320,600
|
4,380
|
49
|
6,967,000
|
9,579
|
47
|
14,613,470
|
*No silver (Ag)
analyses were done for Zaruma.
For further information regarding the Zaruma and Jerusalem resource
estimates, readers are referred to the technical report entitled
"Independent Preliminary Assessment, Jerusalem Project, Zamora
Chinchipe, Ecuador" by WJ Holly, MAusIMM FFin and AJ Maynard, MAIG
MAus IMM effective February 27, 2006 (revised January 21, 2007) and the
technical report entitled "Independent Preliminary Assessment, Zaruma
Project, El Oro Province - Ecuador" by WJ Holly, MAusIMM FFin and AJ
Maynard, MAIG MAus IMM dated August 21, 2006, both of which are available
on SEDAR.
Quality Control and Assurance
Exploration of the Company's properties is under the supervision of Pippa
Jeffcock, the Company's Exploration Manager and a "qualified
person", as defined by NI 43-101. Ms. Jeffcock 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
Quito, Ecuador for preparation. Sample pulps are shipped by BSI
Inspectorate to its laboratory in Lima, Peru for gold fire assay, silver
and multi-element ICP analysis.
Dynasty Metals & Mining Inc.
Robert Washer, President and CEO
For further information please visit the Company's website at www.dynastymining.com, or
This news release includes "forward-looking information", as
such term is defined in applicable securities laws. The forward-looking
information includes, without limitation, statements relating to the
economic feasibility of, and the nature and timing of mine construction and
mining operations at, the Company's Zaruma Gold Project; 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 February 19, 2007 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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