TSX-V: CGLD $0.24 OTCQX: CGLDF $0.18 Gold: $1,490/oz Copper: $2.60/lb


2005 News

Vancouver, BC, February 1, 2005 - Dynasty Metals & Mining Inc. (TSXV: DMM; the "Company") announces encouraging results from its initial work program at Copper Ridge. Channel sampling and geophysical survey results indicate the potential for a large mineralized body.

Copper Ridge is one of six copper-gold porphyry-style systems that the Company has identified within the Dynasty Copper-Gold Belt, which comprises a 90 km x 20 km north-east trending structural corridor in southern Ecuador. (see www.dynastymining.com for maps).

A total of 23 rock chip channel samples were taken, approximately 20 meters apart, over a 500m central section of an altered and highly-leached area at Copper Ridge. Earlier mapping had identified copper mineralization at the surface of this area. Results ranged from 0.01% to 1.54% copper and 0.01 grams per ton ("g/t) to 0.58 g/t gold over widths of 2m to 10m. The average copper value over the 500m was 0.34% and includes a 220m wide section averaging 0.49% copper. These are encouraging copper results from a highly-leached porphyry target.

More significant results are summarized below:

Length (m)

Concurrently, results from an initial geophysical survey at Copper Ridge show indications of sub-surface sulphides - typical of a porphyry copper-gold mineralized system. The survey, conducted by Arce Geofisicos of Peru, covered 10 line kilometres and identified two major induced polarization (IP) target zone anomalies of high chargeability-low resistivity, covering areas of 700m x 600m and 800m x 300m , respectively.

The coincident wide-spread copper mineralization at surface, channel sampling results from surface leached rock, and IP anomalies provide consistent indications that Copper Ridge contains a large mineralized body with depth. The Company's work in the area continues in order to define drill targets.

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 web-site 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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