Dynasty Comments on Ecuadorian Mining Regulations

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Vancouver, BC, November 30, 2009 - Dynasty Metals & Mining Inc. (TSX: DMM, "Dynasty" or the "Company") confirms that the long awaited Mining Regulations signed by President Correa of Ecuador have been recorded in the official law registry and are now enacted.

Dynasty CEO Robert Washer Greets President Correa During April Visit to Zaruma Plant

We are very pleased that Ecuador, under the watch of President Correa, has taken another step towards the development of a sustainable mining industry.

Dynasty Metals & Mining Inc. (TSX: DMM, "Dynasty" or the "Company") confirms that the long awaited Mining Regulations signed by President Correa of Ecuador have been recorded in the official law registry and are now enacted.

Robert Washer, the Company's Chief Executive Officer, commented "We are very pleased that Ecuador, under the watch of President Correa, has taken another step towards the development of a sustainable mining industry. The framework set out in the Regulations is competitive with that which governs other successful mining jurisdictions."

In a speech made at the signing ceremony on November 4, 2009, President Correa commented: "… the sustainable development of mining is fundamental for the development of the Country."

The Company has reviewed the Regulations and is satisfied that it complies with all of its material requirements. The Company's next step is to negotiate an exploitation contract with the government of Ecuador and will continue operations while doing so.

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 owns three gold projects: Zaruma Gold, the first large scale modern mine and processing facility in Ecuador; Jerusalem Gold, an early stage mine development project: and the Dynasty Copper-Gold Belt, which includes the Dynasty Goldfield, a highly prospective exploration project.

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.
Murray Oliver
Tel: (604) 687-0888

Brisco Capital Partners Corp.
Gordon Aldcorn
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 estimation of mineral resources, the realization of mineral resources estimates, 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 25, 2009 filed with the Canadian Securities Administrators and available at http://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.

Web Links:

Home Page - http://www.dynastymining.com/
About Ecuador - http://www.dynastymining.com/ecuador/
Properties - http://www.dynastymining.com/properties/
Management - http://www.dynastymining.com/management/
Investor Relations - http://www.dynastymining.com/investors/
Contact Us - http://www.dynastymining.com/contact/

For more information on Dynasty Metals and Mining visit http://www.dynastymining.com or contact:

Dynasty Metals & Mining Inc.
Suite 270 - 666 Burrard Street
Vancouver, B.C. V6C 2X8
Phone: 604-687-0888
Fax: 604-687-0885

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