Mr. Keith Piggott reports

DYNASTY COMPLETES US$500,000 PRIVATE PLACEMENT

Dynasty Metals & Mining Inc. has completed a non-brokered private placement of a secured convertible debenture of the company in the aggregate principal amount of $500,000 (U.S.) to Credipresto SA de CV SOFOM ENR.

The debenture matures two years from the date of issuance, bears interest at a rate of 12 per cent per annum, payable quarterly in cash, and is fully secured through a pledge of all the issued and outstanding share capital of Elipe SA, an indirect wholly owned subsidiary of the company, ranking behind the outstanding loans from Vertex Managed Value Portfolio and Vertex Enhanced Income Fund. The principal amount of the debenture is convertible at any time at the option of the holder into common shares of the company at a price of 25 cents per common share, based on a Canadian-dollar/U.S.-dollar exchange rate of 1.3322. An aggregate of up to 2,664,400 common shares is issuable by the company on conversion of the debenture, representing approximately 3.03 per cent of the issued and outstanding common shares on completion of the private placement.

The company intends to use the net proceeds from the private placement for working capital and general corporate purposes.

In connection with the private placement, the company issued to Credipresto warrants to purchase 750,000 common shares in lieu of a cash corporate finance fee. Each warrant will entitle the holder thereof to acquire one additional common share at a price of 33 cents per common share for a period of two years from the date of issuance. In connection with the private placement, Credipresto has also agreed to forgive debt outstanding by the company in the aggregate amount of $50,000.

About Dynasty Metals & Mining Inc.

Dynasty Metals & Mining is a Canadian-based mining company involved in the mining, exploration and development of mineral properties in Ecuador. The company is currently focused on gold production and continued development at its Zaruma gold project. The company also owns the Dynasty goldfield project, a permitted property 180 kilometres southwest of the Zaruma project, and the Jerusalem project, an exploration property immediately south of the Fruta del Norte project.

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