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
|Dynasty Metals & Mining Inc.|
Tel: (604) 687-0888
|Brisco Capital Partners Corp.|
Tel: (403) 262-9888
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.