Dynasty Gold Corp.

Dynasty Gold Corp.

August 23, 2007 08:30 ET

Dynasty Expands Exploration at Hatu Gold Project, China

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 23, 2007) - Dynasty Gold Corp (TSX VENTURE:DYG)(FRANKFURT:D5G) ("Dynasty" or the "Company") announces that it has initiated an exploration program to further evaluate the potential of the 600 square kilometers of exploration licenses it holds at the Hatu Gold Project. The company holds the licenses within its Sino-Foreign joint venture (SJV) with Xinjiang Non-Ferrous Metals Industry Group Co. ("XNF") of the Xinjiang Uygur Autonomous Region of the P.R. of China.

As per Dynasty press release dated June 9, 2007, exploration work at Hatu this year has been focused on metallurgy and developing a better geological model of the Qi-2 deposit. The work is being conducted by Avocet Mining PLC, which has a pre-emptive right to the project until September 2007.

For Dynasty to maintain the exploration licenses and the SJV in good standing, expenditures must be made on the licenses prior to the end of October 2007. Dynasty and the SJV partner have therefore designed a program of geological mapping, soil sampling, trenching and ground magnetics to delineate drill targets for next year. The estimated budget for this program is US$300,000. The program will commence immediately and be complete by the end of the year.

Other Projects

Red Valley Gold Project - Exploration is underway at the Red Valley Gold project in Qinghai province. Fifteen diamond drill holes for a total 2,353 meters have been completed and the company is currently compiling information and awaiting assay results. The proposed budget for this work is $1.5 million and could include up to 5,000 metres of drilling (See Dynasty Press Release June 15, 2007).

Gansu Gold Project - Both Dynasty Gold and AngloGold Ashanti are keen to initiate work at the Gansu property, however the business license for the Chinese joint venture operating company has still not been issued by the government. Significant exploration will not occur until the business license is received.

Dynasty Gold Corp. is a Canadian gold exploration company active in China. The company has exploration programs underway at three prospective gold properties and partnerships with AngloGold Ashanti and Avocet Mining.

For more information on the company and its projects, please refer to the website, www.dynastygoldcorp.com.


Brian R. McEwen, President & CEO

This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information