Dynasty Metals & Mining Inc.

Dynasty Metals & Mining Inc.

June 30, 2009 14:55 ET

Dynasty and IAMGOLD Extend Option Period

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2009) - Dynasty Metals & Mining Inc. (TSX:DMM) ("Dynasty" or the "Company") is pleased to announce that IAMGOLD Ecuador S.A. ("IAMGOLD") has agreed to extend by three months the option period during which Dynasty may purchase the remaining 1 1/2% Net Smelter Returns Royalty ("NSR Royalty") on certain concessions at the Company's Zaruma Gold Project that were acquired from IAMGOLD in 2004. Dynasty will now have until September 30, 2009 to exercise the option.

In December 2007, the Company exercised its first option to purchase one-half of the original 3% NSR Royalty for US$1 million. The exercise price to purchase the remaining 1 1/2% NSR Royalty remains unchanged at US$5 million.

Company President, Rob Washer, commented "I would like to thank IAMGOLD for their continuing cooperation and their agreement to extend the option period."

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 near production Zaruma project, the advanced-stage Jerusalem project, 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

For further information please visit the Company's website at www.dynastymining.com.

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