|
DYNASTY COMMENTS ON RECENT DEVELOPMENTS IN ECUADOR
Vancouver, BC, April 25, 2008 - Dynasty Metals & Mining Inc. (TSX:
DMM, "Dynasty" or the "Company") wishes to provide the
following comment on recent developments following the publication of a new
Mining Mandate adopted by Ecuador's Constituent Assembly on April 18, 2008.
The Company's chief executive officer, Robert Washer, and other industry
representatives, met yesterday with President Correa, the Canadian
Ambassador to Ecuador and senior ministry officials to discuss the
advancement of mining in Ecuador and the impact of the new Mandate. We believe the meeting was both positive
and productive. President Correa confirmed that he supports the development
of responsible mining. In addition, he invited industry participants to
meet with ministry officials to assist with the development of the new
mining law.
At present, we continue to employ our 400 plus workers, most of whom reside
in communities where mining is an integral part of the local economy. The
Company remains committed to the advancement of these local communities and
will continue to work with them to develop a sustainable industry.
Mine development and mill construction is well advanced at our Zaruma Gold
Project. We were operating on schedule and within budget. However, until we
receive further clarification of certain provisions contained in the Mandate,
we can not estimate the time to complete mine development and plant start
up. We will issue updates as new information becomes available.
Company President, Rob Washer, commented: "We are focussed on
working with the government towards developing an accommodation that serves
the interests of all stakeholders."
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 and Jerusalem, as well
as 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 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.
|