TSX-V: CGLD $0.23 OTCQX: CGLDF $0.19 Gold: $1,523/oz Copper: $2.62/lb


2007 News

Vancouver, BC, October 11, 2007 - Dynasty Metals & Mining Inc. (TSX: DMM, the "Company") reports the completion of its previously-announced bought deal offering of 1,200,000 common shares at $8.25 per share for gross proceeds of $9,900,000.

The Company intends to use the net proceeds of the offering to fund exploration and development of its properties in Ecuador, including the completion of plant construction and mining start-up at the Company's Zaruma Gold Project, as well as for general corporate purposes.

The offering was underwritten by Cormark Securities Inc. ("Cormark"). The Company paid to Cormark a cash commission equal to 6% of the gross proceeds and issued warrants to Cormark and to Shoreline Pacific Canada Inc. to purchase an aggregate 72,000 common shares at $8.50 per share, exercisable until October 11, 2008.

The shares issued in the financing and any shares issued upon the exercise of the broker warrants are subject to resale restrictions until February 12, 2008.

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, Jerusalem and Zaruma, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the Dynasty Goldfield, the Copper Duke Project and the Marianna Joint Venture among other prospects.

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

Dynasty Metals & Mining Inc.
Murray Oliver
Tel: (604) 687-0888
Email: info@dynastymining.com
Brisco Capital Partners Corp.
Gordon Aldcorn
Tel: (403) 262-9888
Email: Gordon@briscocapital.com

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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