This is a significant moment in the Company's history and for the development of a modern mining industry in Ecuador. We would like to thank the government of Ecuador for its ongoing support for the development of the Zaruma Gold Project, which is the first large scale modern mining operation in Ecuador's history.
Vancouver, BC (PRWEB) September 30, 2009
The management of Dynasty Metals & Mining Inc. (TSX: DMM, "Dynasty" or the "Company") is very pleased to announce the Company has poured its first gold at its recently commissioned gold processing plant at Zaruma in Ecuador. In total, the dory bars poured by the Company contained approximately ten kilograms (320 ounces) of gold and 50 kilograms (1,600 ounces) of silver.
Robert Washer, the Company's President and Chief Executive Officer commented: "This is a significant moment in the Company's history and for the development of a modern mining industry in Ecuador. We would like to thank the government of Ecuador for its ongoing support for the development of the Zaruma Gold Project, which is the first large scale modern mining operation in Ecuador's history."
The Company has now successfully commissioned all sections of the plant. The Company will continue to optimize plant operations by processing material mined during the ongoing development of the declines.
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 the producing Zaruma Gold Project, the first large scale modern mine and processing facility in Ecuador which was constructed on budget in a country that lacks an infrastructure for large scale mining. In addition, the Company has the advanced-stage Jerusalem Project, 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 http://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. Users of forward-looking information are cautioned that actual results may vary from forward-looking information contained herein. The forward-looking information includes, without limitation, plans to apply for additional mining permits, the timing of commencement of mining operations and the future production capacity at the Zaruma plant, the identification and construction of declines, the potential size and grade of resources, the finalization of mining regulations in Ecuador and the completion of an exploitation contract with the Ecuadorian government, the sufficiency and availability of cash, the proposed construction of a plant at the Jerusalem Project and the commencement of production, the availability of an adequate power source at the Zaruma plant, the timing and ability of the Company to mine and deliver material to the Zaruma plant and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking information was developed using the material factors or assumptions stated herein. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of gold, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Known risk 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; uncertain mining legislation; 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 25, 2009 filed with the Canadian Securities Administrators and available at http://www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. Accordingly, readers should not place undue reliance on 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 except as required by law.