IRVING, TX--(Marketwired - Mar 6, 2017) - DynaResource, Inc. (OTCQB: DYNR) ("DynaUSA", and "the Company") is pleased to announce that Mr. Eduardo Luna has been appointed to the Company's Board of Directors, effective March 1, 2017. Mr. Luna's appointment was formalized by Mr. K.D. Diepholz, Chairman/CEO of the Company, utilizing the shares of Series A Preferred Stock held by Mr. Diepholz.
Concurrently, DynaUSA is pleased to announce that its wholly owned subsidiary, Mineras de DynaResource S.A. de C.V. ("DynaMineras"), the exclusive operator of the San Jose de Gràcia Project ("SJG") in the State of Sinaloa, México, has appointed Mr. Luna as Special Advisor to the President of DynaMineras.
Mr. Luna is a respected, successful senior executive with over 40 years' experience in the mining industry. Mr. Luna's experience includes serving as a Member of the Board of Directors for major mining companies which have achieved success at the highest level of the mining industry. Mr. Luna currently serves as a member of the Board of Directors of Silver Wheaton Corp., which is the largest pure precious metals streaming company in the world. Mr. Luna has also served as a Member of the Board of Directors of Goldcorp Inc., Alamos Gold Inc., and Primero Mining Corp.
In addition to his roles on company boards, Mr. Luna has served in a variety of operational capacities. From 1991 to 2005, Mr. Luna served as President of Luismin SA de CV in Mexico, which operated the Tayoltita Project for Goldcorp in Mexico. Mr. Luna also served as an Executive Vice President of Goldcorp. More recently, Mr. Luna served as President of Mexican Operations for Primero Mining from 2010-2015, during which time Primero Mining operated the Tayoltita Project.
During his distinguished career, Mr. Luna has received several mining industry recognitions and appointments, which include:
- National Mining Award, Mexico, 1997;
- President of the Mexican Chamber of Mines;
- President of the Consulting Board for the School of Mines, Universidad de Guanajuato;
- Member of the Advisory Boards of the School of Mines of National University of Mexico and University of Zacatecas;
- President of The Silver Institute 2002 - 2003.
Mr. Luna received a Bachelor's degree in Mining Engineering from Universidad de Guanajuato, 1971; an MBA from Tecnológico de Monterrey, 1979; and an Advanced Management degree from Harvard Business School.
In 1997 Mr. Luna was appointed Trustee of Fundación Pro Niños de la Calle, a charity that works with children living on the streets of Mexico City.
Mr. K.D. Diepholz, Chairman/CEO of DynaUSA, said, "Mr. Luna is a consummate professional in the mining industry. His stature and successes in the industry are well known. Mr. Luna will provide guidance directly to me, as President of DynaMineras, for the operations and project development at SJG. Mr. Luna's vast experience and success at the Tayoltita Property will transfer immediately to the underground test mining operations at SJG. In addition to the current underground mining development, we believe future development at SJG will include an expansion of the underground mining and pilot production activities, as well as the defining, and subsequent development of an open pit resource. We expect DynaMineras to accomplish a preliminary economic assessment report, scoping study, or similar report, which will be expected to support the project financing of the open pit operations at SJG.
"I am delighted to welcome Mr. Luna to the DynaResource family of companies. I expect Mr. Luna to provide leadership and advice to the DynaResource family of companies in order that the DynaResource Companies continue the development of SJG into a world class project. I am excited to welcome Mr. Luna to the DynaResource Companies and I look forward to working with him."
Mr. Luna said, "The DynaResource companies and the SJG Project offer a unique and substantial combination of opportunities. I recognize the possibility for the continued development of DynaResource into a mid-tier producer in the short term, and a first-class mining company in the longer term. I am very excited to join a very talented professional and management staff already in place at the DynaResource family of companies, both in the US and in Mexico. I am looking forward to providing leadership, advice and guidance for the DynaResource Companies at this exciting growth phase for the Companies, and I'm looking forward to the continuing development of the SJG Project into a world class mining property."
On behalf of the Board of Directors,
DynaResource, Inc; Chairman and CEO
IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an "OTC Reporting Issuer" as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions.
Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC") applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC and not subject to Canadian securities legislation. This news release or other disclosure provided by the Company may use the terms "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, "inferred mineral resources" have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, although they may form, in certain circumstances, the basis of a "preliminary economic assessment" as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This News release contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed "forward-looking". All statements in this news release, other than statements of historical fact, that address events or developments that DynaResource expects to occur, are "forward-looking information". These statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of DynaResource. These forward-looking statements reflect the Company's current internal projections, expectations or beliefs and are based on information currently available to DynaResource. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the Company's plans at the San Jose de Gràcia property. Many of these assumptions are based on factors and events that are not within the control of DynaResource and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and México; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaResource currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaResource does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the Annual Report for DynaResource available at www.sec.gov. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although DynaResource believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.