Dynasty Metals & Mining Inc.

Dynasty Metals & Mining Inc.

January 23, 2006 08:30 ET

Dynasty Commences 2006 Exploration at Copper Duke Porphyry

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 23, 2006) - Dynasty Metals & Mining Inc. (TSX VENTURE:DMM) (the "Company") has resumed exploration on its 100% owned Copper Duke porphyry project.

Copper Duke is located within the 90 km by 20 km Dynasty Copper-Gold Belt, approximately 18 km east of the Company's Dynasty Goldfield and 40 km south from Dynasty's Zaruma Gold Project. The porphyry-style system covers 10 km x 5 km and was acquired in early 2005 (see news release dated January 24, 2005).

Previous Exploration

A recent search of the Ecuadorian government's archives has uncovered an extensive report on exploration conducted in 1978 in the Copper Duke project area by Adaro, a Spanish government company. The report, under seal of the Ecuadorian Ministry of Energy and Mines, contains the results of a geophysical survey that outlined an anomaly coincident with positive results obtained by the United Nations in a 1968 sampling program.

Adaro subsequently drilled two closely-spaced holes, each 220 metres deep, into porphyry on this anomaly. Significant assay results from this drilling, taken from the Adaro report, are shown in the table below. Dynasty has now confirmed the drill platforms for both of these holes in the field:

Hole # (g/t) (g/t) (ppm) (metres) (metres) (metres)
1 2.5 5.6 349 33.1 9.0 42.1
includes 4.0 6.0 180 1.4 33.1 34.5
2.5 1.0 320 2.5 45.3 47.8
2.3 2.0 252 4.5 49.2 53.7

2 2.1 7.0 151 39.6 0.0 39.6
includes 4.0 10.0 180 4.7 26.7 31.4
2.0 8.0 335 2.2 43.2 45.4
2.0 8.7 667 10.9 51.9 62.8
(ii) Core length

Dynasty Exploration in 2005

The Company conducted initial, regional exploration at Copper Duke in 2005. In areas surrounding the Adaro drilling, assay results from 110 surface rock channel samples ranged from 0.1 g/t to 12.1 g/t gold ("Au"), 1 g/t to 251 g/t silver ("Ag"), 0.03% to 1.4% Cu and 1 ppm to 61 ppm Mo. A new anomaly, discovered 800 m east of the original Adaro anomaly, features strong argillic alteration with quartz stockworks in oxidized quartz porphyry. Taken together, this area is referred to as the "Huato" anomaly.

New Exploration

The Company believes that the Huato and Blanquillo anomalies at Copper Duke are significant disseminated gold and copper targets. They are approximately six km apart. The Blanquillo anomaly, first identified by the Company in 2004, is 0.8 km by 0.8 km. The Huato anomaly is 1.0 km by 1.5 km. Both targets have porphyry with associated high-grade epithermal gold and silver veins and stockworks.

The current program of follow-up field work and previous drill results will include additional mapping, soil sampling and rock chip sampling.

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. Samples are sealed on the property and shipped to the BSI Inspectorate laboratory in Lima, Peru for preparation and gold fire assay. Sample pulps are shipped by BSI Inspectorate to its laboratory in Reno, Nevada for silver and multi-element ICP analysis.

Readers are cautioned that, while the Company has no reason to doubt the accuracy of the historical results reported in this news release, it can provide no assurance as to the accuracy of any such results that are not expressly stated to have been confirmed by its own exploration.

About Dynasty

Dynasty Metals & Mining Inc. is a Canadian mining company focused on the exploration and development of mineral properties in Ecuador.

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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