Dynacor Gold Mines Inc.
TSX : DNG
OTC PINK : DNGDF

Dynacor Gold Mines Inc.

July 21, 2017 12:08 ET

Dynacor: June Gold Production Increases Sharply to 6,895 oz.

MONTREAL, QUEBEC--(Marketwired - July 21, 2017) - Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to report that gold production in June was the best month so far in 2017 and reached 6,895 oz. as compared to 5,865 oz in June 2016, an increase of 1,030 ounces (+18%).

In Q2, monthly gold production has progressively increased and reached a yearly high in June of 6,895 oz. representing an increase of 35% as compared to the production in April 2017 (5,087 oz.). Total quarterly gold production (18,185 oz) increased by 6% as compared to Q1-2017 (17,125 oz.). Monthly gold production* data for Q2 in 2017 and 2016 are presented in Table 1 below.

Table 1. Monthly Gold production* for Q2 in 2017 and 2016

April
(Au oz.)
May
(Au oz.)
June
(Au oz.)
Q2 total
(Au oz).
2017 5,087 6,203 6,895 18,185
2016 5,801 5,859 5,865 17,525

*- Final adjusted production data for April to June 2017

Gold production for the first 6 months of 2017 amounted to 35,310 oz (33,332 oz. in 2016) an increase of 6%. This is below our planned production target due to a lower availability of ore which was the result of an extreme weather event in 2017 (see press release dated June 19, 2017 and April 20, 2017). We expect that gold production will now continue to trend higher over the next 6 months.

Jean Martineau, Dynacor's CEO and President commented "We have achieved solid operational results and production is steadily increasing at our new Veta Dorada plant in Chala. We expect this trend to continue into Q3 and Q4. I am particularly pleased to report that the metallurgical yield is now better than at our old plant and in fact reached an all-time record during Q2-2017."

Earthquake in southern Peru

An earthquake of magnitude 6.4 at a depth of 44.1 km occurred on the 17th of July at Atico which is 91 km south of Chala and 98 km WNW of Camana in Southern Peru. Dynacor is pleased to report that no damage was done to its Chala plant which remains fully operational. The Huanca plant and its tailing ponds which are on care and maintenance did not suffer any damage. However, the Panamerican highway was impacted and the government is working to restore the damage and traffic as soon as possible.

ABOUT DYNACOR GOLD MINES INC.

Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through its government approved ore processing operations. At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2016, Dynacor produced 73,476 ounces of gold, a 9% increase as compared with 2015 (67,603 ounces in 2015). Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).

FORWARD LOOKING INFORMATION

Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release.

Dynacor Gold Mines Inc. (TSX:DNG)

Website: http://www.dynacor.com

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Contact Information

  • Dynacor Gold Mines Inc.
    Jean Martineau
    President and CEO
    514-393-9000 ext. 228

    Dynacor Gold Mines Inc.
    Dale Nejmeldeen
    Director, Investor Relations
    604.492.0099 / M: 604.562.1348
    nejmeldeen@dynacor.com