Vancouver, B.C. (PRWEB) October 2, 2010
Dynasty Metals & Mining Inc. (TSX: DMM, "Dynasty" or the "Company") is pleased to announce that it has delivered its second shipment of gold dore, containing approximately 1,250 troy ounces of fine gold, with an approximate value of US$1.6 million, produced from its Zaruma Gold Project in Ecuador to a refinery in Canada. The Company continues to have a strong cash position and expects operations to be cash flow positive for the remainder of the year.
Ecuadorian Police Protests
Certain members of the Ecuadorian police are currently protesting a new law that would potentially lead to a reduction in their benefits. This has led to some road closure in the capital, Quito, as well as the closure of Quito airport. Protests have also been reported elsewhere in the Country, including Guayaquil.
These protests, have not, and are not expected to affect the Company's operations in Southern Ecuador. The Company's mining and processing operation in Zaruma continues to be operating on a shift basis twenty four hours a day.
President & Chief Executive Officer
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 in production Zaruma Gold Project, the advanced-stage Jerusalem Project, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the advanced-stage Dynasty Goldfield.
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, the amount of money the Company anticipates that it will receive from the sale of gold delivered to the refinery; the Company's expectations as to the effect of the police protests on its operations; the Company's expectations that it will be cash flow positive; 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, the actions of police and 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 26, 2010 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.