TSX-V: CGLD $0.25 OTCQX: CGLDF $0.18 Gold: $1,468/oz Copper: $2.65/lb


2009 News

January 30, 2009 - Dynasty Metals & Mining Inc. (TSX: DMM, the "Corporation") announces that the Corporation has entered into an agreement with Cormark Securities Inc. as lead underwriter and including Canaccord Capital Corporation (the "Underwriters") pursuant to which the Underwriters have agreed to purchase 2,500,000 common shares on a "bought deal" private placement basis at a price of $4.00 per share (the 'Issue Price').

The Corporation will pay the Underwriters a cash commission equal to 6.0% of the gross proceeds of the offering and issue broker warrants to acquire up to that number of common shares as is equal to 4.0% of the aggregate number of Common Shares issued pursuant to the Offering at a price of $4.00 per common share for a period of 12 months following the closing date.

Closing of the offering is anticipated to occur on or before February 19, 2009 and is subject to receipt of applicable regulatory approvals including approval of the Toronto Stock Exchange.

The proceeds of the financing will be used to fund development of the Corporation's Ecuador properties, property acquisitions as well as for general corporate purposes.

The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the "1933 Act"), as amended, or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

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 Corporation has two advanced-stage projects, Jerusalem and Zaruma, 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:

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

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

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