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

Dynacor Gold Mines Inc.

June 03, 2015 06:30 ET

Dynacor: Nominates Jean Depatie to the Board

MONTREAL, QUEBEC--(Marketwired - June 3, 2015) - The Chairman of the Board and the Directors of Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) ("Dynacor" or the "Corporation") are pleased to announce the appointment of Jean Depatie as a Director of the Corporation. The Board and the Corporation's senior managers also wish to thank Denis Lachance, who resigned for personal reasons from the Board in April 2015, for his contribution to the development of the Corporation and his expert advice.

Jean Depatie has been at the forefront of the mining industry in Québec and in Canada for the past 45 years. He is an internationally recognised expert in the mining world in financing, takeovers, mergers and acquisitions. He is a past director of Glamis Gold that was sold to Goldcorp creating a 21.3 billion dollar entity, a past Director of Novicourt Inc (taken over by Xtrata), a past Director of Consolidated Thomson Iron Mines (taken over by Cliff Resources in a 4.9 billion dollar transaction in 2011). As the Vice-President Exploration of Sullivan Mines, he was directly involved in the reactivation of the Win-Eldrich gold mine. As the President and CEO of Louvem Mines he was instrumental in the discovery of the Louvicourt base metal mine and the development of the Beaufor gold mine in Quebec (later sold to Richmont Mines). In Peru, as a Director of Gold Hawk Resources he was involved in the acquisition and reactivation of the Cobre San Juan base metal mine located in San Mateo (later sold to Nystar a Dutch Company).

Jean Depatie has served many public companies at the highest levels: CEO, President and Chairman of the Board. He has also been actively involved in exploration and economic geology, both as an independent consultant and as a senior officer; for instance he was Vice-President Exploration for SNC Lavalin for 7 years. He has a very extensive international experience and has worked in more than 20 countries.

He received the 1990 Prix d'Excellence from Québec Ministry of Mines and Energy for having financed and put into production the most important graphite mine in North America. Jean Depatie is a graduate of the University of Montréal where he obtained a B.A in Mathematics and Physics and a BSc in Geology and a MSc in Geology from Laval University in 1964. He is a former President of the Association professionnelle des géologues et des géophysiciens du Québec.

The Board and Dynacor's senior management are looking forward to working with Jean Depatie as Dynacor continues to grow and create value for its shareholders over the next few years.

Jean Depatie after recently visiting Dynacor's operations in Peru stated "I am very impressed with both Dynacor's ore processing business and its amazing gold Tumipampa project. I believe that Dynacor's business model whereby exploration is self-financed by profits generated from ore processing is very original and generates value for its shareholders. I am really very pleased to join Dynacor's Board at this pivotal time in the Corporation's growth"

ABOUT DYNACOR GOLD MINES INC.

Dynacor is a gold ore-processing and exploration Corporation active in Peru since 1996. The Corporation differentiates itself from pure exploration companies as it generates income from its wholly owned ore-processing plant. Dynacor's basic share count at 36.3 million outstanding is in the lowest quartile of the resource sector. The Corporation's assets include three exploration properties, including the advanced high-grade gold Tumipampa property and an operating 85,000 TPA gold and silver ore processing mill at Metalex-Huanca. The Corporation recently obtained its permit to construct a brand new 300 tpd mill in Chala Peru. This represents an important milestone for the Corporation's future growth. The Corporation's strength and competitive advantage comes with the experience and knowledge it has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.

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

Twitter: http://twitter.com/DynacorGold

Facebook: http://www.facebook.com/pages/Dynacor-Gold-Mines-Inc/222350787793085

Shares outstanding: 36 425 667

Contact Information

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

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