Mr. Jean Martineau reports

DYNACOR GROUP FORECASTS SALES OF BETWEEN US$265 AND US$285 MILLION AND EARNINGS OF BETWEEN US$12 AND US$15 MILLION FOR 2024

Dynacor Group Inc. has released its 2024 earnings guidance, with total sales projected to increase between 6 per cent and 14 per cent compared with 2023 sales, reaching between $265-million (U.S.) and $285-million (U.S.) ($359-million and $387-million).

Net income is estimated to reach between $12-million (U.S.) and $15-million (U.S.) (between 33 U.S. cents and 41 U.S. cents per share) (45 cents and 56 cents per share), and cash flow from operating activities (before changes in working capital items) is expected to be between $15-million (U.S.) and $18-million (U.S.) (between 41 U.S. cents and 49 U.S. cents per share) (56 cents and 67 cents per share).

Sales and earnings forecasts are based on gold price estimates ranging between $2,000 (U.S.) and $2,050 (U.S.) per ounce, and various other production assumptions, including ore grades.

The company's team is fully committed to creating value for its shareholders by executing well-planned, low-risk expansions, increasing monthly dividends and implementing share buybacks that drive cash returns when capital management criteria are met.

Jean Martineau, president and chief executive officer, states: "Dynacor Group is committed to creating long-term value for our shareholders. Our team of talented professionals is dedicated to driving growth and implementing cost-efficient measures to support the continued expansion of our ASM [artisanal and small-scale miners] gold ore-processing business. With this unwavering commitment to excellence, we remain optimistic about the future of our company and confident in the opportunities that lie ahead."

Dynacor Group plans to invest up to $13-million (U.S.) in capital expenditures in 2024. This investment will be used at our Veta Dorada plant for new equipment to improve efficiency, increase tailing pond capacity and develop new projects in other jurisdictions.

Dynacor will provide regular updates throughout the year to keep shareholders informed and engaged. The next guidance update will be provided during the company's quarterly earnings report in May, 2024.

Note: Numbers in United States dollars have been converted in Canadian dollars using the exchange rate at the beginning of March, 2024.

About Dynacor Group Inc.

Dynacor is a dividend-paying industrial gold ore processor headquartered in Montreal, Canada. The corporation is engaged in gold production through the processing of ore purchased from the artisanal and small-scale mining industry. At present, Dynacor operates in Peru, where its management and processing teams have decades of experience working with ASM miners. It also owns a gold exploration property (Tumipampa) in the Apurimac department.

The corporation intends to expand its processing operations in other jurisdictions as well.

Dynacor produces environmental and socially responsible gold through its PX Impact gold program. A growing number of supportive firms from the fine luxury jewellery, watchmakers and investment sectors pay a small premium to Dynacor's customer and strategic partner for this PX Impact gold. The premium provides direct investment to develop health and education projects for the company's artisanal and small-scale miner's communities.

Dynacor is listed on the Toronto Stock Exchange.

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