Dynasty Metals & Mining Inc.

Dynasty Metals & Mining Inc.

May 30, 2006 09:00 ET

Dynasty Metals & Mining Inc.: Surface Sampling Encounters 1 oz Gold Over 2 Metres at Copper Duke

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 30, 2006) - Dynasty Metals & Mining Inc. (TSX VENTURE:DMM) (the "Company") reports that ongoing rock channel sampling has returned 51.87 grams per tonne ("g/t") gold and 991 g/t silver over 0.6 metres and 31.23 g/t gold and 20 g/t silver over 2 metres in the Huato area of its Copper Duke Project, in southern Ecuador.

Copper Duke covers 10 km x 5 km within the Company's, 100% owned, 90 km x 20 km, Dynasty Copper-Gold Belt. It is a large, porphyry-style, target with high-grade epithermal gold and silver vein swarms and stockworks peripheral to the main, disseminated, mineralization. The Dynasty Copper-Gold Belt hosts eight such porphyry-style systems with associated large quartz-sulphide vein swarms and stockworks.

"Huato" and "Blanquillo" comprise two target areas, 6 km apart, at Copper Duke, where a strongly altered (propylitic) Tertiary andesitic volcanic sequence has been intruded by a number of porphyries with epithermal vein swarms (see news releases dated January 23, 2006 and April 12, 2006).

New Channel Sampling

The Company has now received assay results from an additional 61 channel rock chip samples taken over an area of 3 km x 2.5 km, on newly-discovered, epithermal vein swarms at Huato. Results range from 0.1 g/t to 51.87 g/t gold and 0.2 g/t to 991 g/t silver. The channel samples vary in width from 0.2 m to 2.1 m and average 1.0 m. Results are positive and significant values are tabulated below:

Sample Gold Silver Gold Equivalent(i) Width
Number (g/t) (g/t) (g/t) (m)
D0803796 51.87 991 69.89 0.6
D0803775 31.23 20 31.59 2.0
D0803799 13.73 141 16.29 0.7
D0803757 12.03 4 12.10 0.6
D0803795 8.65 100 10.47 0.7
D0803777 8.87 6 8.98 0.6
D0803804 6.20 17 6.51 0.7
D0803793 5.46 2 5.84 0.5
D0803776 3.68 34 4.30 0.3
D0803803 4.40 4 4.47 0.6
(i) Gold Equivalent equals 55:1 silver:gold

Additional Exploration

A ground magnetic survey has also now been completed at Huato. The survey covered 4.5 sq. km, with 25 line km being measured for magnetics. Results currently are being compiled and evaluated.

Dynasty Goldfield

Drilling continues at the Dynasty Goldfield, with two diamond drilling rigs turning. The new drill holes are testing recently-discovered vein systems in the project.

On April 24, 2006, the Company reported initial estimates by Al Maynard & Associates, of Perth, Australia, of resources in the Dynasty Goldfield. The estimates, based on the results of earlier exploration, were 424,422 ounces of gold and 4,762,935 ounces of silver in the "measured and indicated" category and 427,017 ounces of gold and 5,521,474 ounces of silver in the "inferred" category. See table, below, for full details. Estimated resources are expected to increase with continuing exploration of this grassroots discovery.

Initial Resource Estimates - Dynasty Goldfield
Resource Equivalent Gold Gold Silver Silver
Category Tonnes g/t g/t Ounces g/t Ounces
MEASURED 1,461,271 4.73 3.91 183,763 41 1,913,735
INDICATED 1,867,112 4.95 4.01 240,659 47 2,849,200
INFERRED 3,019,396 5.54 4.40 427,017 57 5,521,474
(i) Gold Equivalent equals 50:1 silver:gold

Quality Control and Assurance

Exploration of the Company's properties is under the supervision, of Greg Whitfield, the Company's Exploration Manager and a "qualified person", as defined by National Instrument 43-101. Mr. Whitfield is responsible for the preparation of technical information in this news release. Rock channel sample widths are those of the samples and may not be true widths of the mineralized vein structures. Samples are sealed on the property and shipped to the BSI Inspectorate laboratory in Quito, Ecuador for preparation. Sample pulps are shipped by BSI Inspectorate to its laboratory in Lima, Peru for gold fire assay, silver and multi-element ICP analysis.

About Dynasty

Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador. The Company has two advanced stage projects, Jerusalem and Zaruma, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the Dynasty Goldfield.

Dynasty Metals & Mining Inc.

Robert Washer, President and CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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