TSX-V: CGLD $0.18 OTCQX: CGLDF $0.13 Gold: $1,512/oz Copper: $2.58/lb


2005 News

Vancouver, BC, June 21, 2005 - Dynasty Metals & Mining Inc. (TSXV: DMM; the "Company") announces that it has acquired the Copper Mountain copper-gold porphyry property in southern Ecuador.

Copper Mountain is located approximately 110 km north-east of the Company's Zaruma gold project, and 40 km from Iamgold Corp.'s advanced Quimsacocha gold project. Copper Mountain is a 3 km x 6 km, porphyry-style system featuring advanced high-temperature argillic alteration.

Previous exploration at the property identified a large copper, gold and molybdenum anomaly on porphyry, within a regional, nine sq. km volcanic caldera structure. Approximately 320 soil samples, on 100 metre spacing over leached soils, outlined an anomaly of 1.2 km x 1.0 km in copper and molybdenum with values ranging from 33 to 105 ppm and 2 ppm to 14 ppm, respectively.

Copper Mountain also includes a 200 m x 1200m epithermal vein system, comprising two major outcropping veins, 1.5 km to the west of the porphyry system. Previous exploration of these leached quartz-sulphide veins included a total of 15 channel rock samples with results ranging from 0.1 g/t gold to 1.0 g/t gold and 2 g/t silver to 10 g/t silver, over an average width of six metres.

The Company will now proceed to map the surface anomaly so as to understand structural controls and the possible depletion of mineralization in the surface weathering environment. The anomaly appears to be similar to the iron oxide copper-gold Candelaria deposit in Chile and is extensively soil covered in the north, suggesting the possibility of future expansion in that direction.

Other Projects

The Company continues to advance its other gold projects in southern Ecuador. Drilling is ongoing at the Company's Dynasty Copper-Gold Belt where results to date suggest the the existence of a new gold-bearing system. Intersections of 17.38 g/t gold and 723 g/t silver over 3.3 metres and 2.16 g/t gold and 21 g/t silver over 50.40 metres in holes 05DDH05 and 05DDH13, respectively were announced in the Company's news release dated May 19, 2005.

On the Company's Zaruma and Jerusalem Gold Projects, underground and surface exploration and scoping studies are in progress.

Quality Control and Assurance

Exploration of the Company's properties is under the supervision, of Greg Whitfield, the Company's Exploration Manager and a "qualified person", as defined by National Instrument 43-101. Mr. Whitfield 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 Lima, Peru for preparation and gold fire assay. Sample pulps are shipped by BSI Inspectorate to its laboratory in Reno, Nevada for silver and multi-element ICP analysis.

About Dynasty

Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador. For further information about the Company, please contact Murray Oliver at (604) 687-0888 Ext. 3 or info@dynastymining.com or visit the Company's website at www.dynastymining.com.

Dynasty Metals & Mining Inc.

Robert Washer, President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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