Dynasty Announces Gold Production of 25,868 Ounces and Gold Sales of 28,355 Ounces for the 12 Months Ended December 31, 2014
Marketwired
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 17, 2015) - Dynasty Metals & Mining Inc. ("Dynasty" or the "Company") (DMM.TO)(DMMIF) announces that it produced 25,868 ounces of gold at an average grade processed of 8.45 grams per tonne at its Zaruma Gold Project mine for the twelve-month period ended December 31, 2014 (the "Fiscal Year 2014"). Gold production for the three-month period ended December 31, 2014 was 7,585 ounces of gold at an average grade processed of 10.59 grams per tonne.
All dollar amounts in United States dollars unless otherwise stated.
Zaruma Gold Project Production Data
12 Months Fiscal Year 2014a
3 Months Fourth Quarter 2014a
3 Months Third Quarter 2014a
3 Months Second Quarter 2014 a
3 Months First Quarter 2014 a
Mined material milled (tonnes)
101,640
23,571
23,324
37,065
17,680
Average grade (grams/tonne)
8.45
10.59
10.90
4.42
10.78
Average recovery (%)
93.7
94.5
94.5
90.4
94.7
Gold production (ounces)
25,868
7,585
7,723
4,761
5,799
Gold sales (ounces)
28,355
8,122
8,465
4,531
7,237
Production statistics are unaudited and may be subject to change
Dynasty will provide a more detailed analysis in its management discussion and analysis and financial statements for the year ended December 31, 2014, which will be released on or before March 31, 2015.
Robert Washer, the Company's President and Chief Executive Officer, commented "Fiscal Year 2014 was the first full year of commercial production at the Zaruma Gold Project and during this time the majority of production was mined from the Soroche group of veins with the processing plant operating at less than half its current capacity. The Company intends to continue to develop the mine to gain access to additional veins and increase the throughput and ounces produced at the processing plant in the coming year."
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 is currently focused on developing its Zaruma Gold Project, at which the Company is engaged in intermittent production. The Company also has the following non-producing assets: the Jerusalem Project and Dynasty Goldfield Project.
Brian Speechly, a Fellow of AusIMM (Australian Institute of Mining and Metallurgy), a director of the Company and a "qualified person" within the definition of that term in the National Instrument 43-101, has supervised the preparation of and has verified the technical information contained in this news release.
For further information please visit the Company's website at www.dynastymining.com.
Forward-Looking Information
This news release contains statements which are, or may be deemed to be, "forward-looking information" which are prospective in nature. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as "plans", "expects" or "does not expect", "is expected", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Such information in this news release includes, without limitation, statements regarding Dynasty's future plans and expectations relating to the Zaruma mine development and mineral extraction. Forward-looking information is not based on historical facts, but rather on then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including assumptions relating to the Company's ability to continue progress through its declines with minimal or no interruption, that the Company will be able to continue its progress in respect of its mines as planned, that the Company will continue to sell processed gold and silver at levels that allow it to fund the continued development of its mining projects and sustain its operations, that the Company will have access to capital if required, that all necessary approvals and arrangements will be obtained, renewed and/or finalized in a satisfactory manner in order to continue developing the Company's projects, and that the Company's equipment will operate at expected levels. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause Dynasty's actual results, revenues, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important risks that could cause Dynasty's actual results, revenues, performance or achievements to differ materially from Dynasty's expectations include, among other things, those risks found in Dynasty's Annual Information Form for the year ended December 31, 2013 and other public filing, which are available on SEDAR at www.sedar.com. Other than in accordance with its legal or regulatory obligations, Dynasty is not under any obligation and Dynasty expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
