DYNASTY AND
IAMGOLD EXTEND OPTION PERIOD
Vancouver, BC,
June 30, 2009 - Dynasty Metals & Mining Inc. (TSX: DMM,
"Dynasty" or the "Company") is pleased to announce that
IAMGOLD Ecuador S.A. ("IAMGOLD") has agreed to extend by three
months the option period during which Dynasty may purchase the remaining
1�% Net Smelter Returns Royalty ("NSR Royalty") on certain
concessions at the Company's Zaruma Gold Project that were acquired from
IAMGOLD in 2004. Dynasty will now have until September 30, 2009 to exercise
the option.
In December 2007, the Company exercised its first option to purchase one-half
of the original 3% NSR Royalty for US$1 million. The exercise price to
purchase the remaining 1�% NSR Royalty remains unchanged at US$5 million.
Company President,
Rob Washer, commented "I would like to thank IAMGOLD
for their continuing cooperation and their agreement to extend the option
period."
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 the near production Zaruma project, the advanced-stage
Jerusalem project, and 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. Users of
forward-looking information are cautioned that actual results may vary from
forward-looking information contained herein. The forward-looking information
includes, without limitation, the anticipated dates that the different
phases of commissioning will be completed, the amount and grade of material
that the Company plans to process, the timing and ability of the Company to
mine and deliver material to the processing plant, the anticipated date of
commencement of production, statements regarding the new regulations to the
Mining Law and other similar statements concerning anticipated future
events, conditions or results that are not historical facts. In certain
cases, forward-looking information was developed using the material factors
or assumptions stated herein. Such factors and assumptions include, amongst
others, the effects of general economic conditions, the price of gold,
changing foreign exchange rates and actions by government authorities,
uncertainties associated with legal proceedings and negotiations and
misjudgements in the course of preparing forward-looking information. In
addition, there are also known and unknown risk factors which could cause
the Company's actual results, performance or achievements to differ
materially from any future results, performance or achievements expressed
or implied by the forward-looking information. Known risk 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; uncertain mining legislation; 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 25, 2009 filed with
the Canadian Securities Administrators and available at www.sedar.com.
Although the Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking information, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking information, or
the material factors or assumptions used to develop such forward looking
information, will prove to be accurate. Accordingly, readers should not
place undue reliance on 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 except as
required by law.
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