Dynasty Gold Corp.

Dynasty Gold Corp.

October 19, 2007 11:29 ET

Dynasty Gold Announces Close of the First Tranche of the Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2007) - Dynasty Gold Corp. (TSX VENTURE:DYG)(FRANKFURT:D5G) ("Dynasty" or the "Company") announces that it has received the TSX Venture approval of the 7,000,000 units private placement previously announced on October 5, 2007. This is the first tranche of the 10,000,000 units to be issued. The 7,000,000 unit private placement was closed for gross proceeds of $700,000. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at CDN$0.15 on the first anniversary from the date of closing (the "Closing Date"), and CDN$0.20 on the second anniversary from the date of closing. Finder's fees and warrants may be payable. The shares and warrants issued are subject to a four month hold from the date of closing of the private placement.

The Company will use the proceeds of the private placement to fund Hatu exploration program and for new project evaluation currently underway in the Qinghai Province of People's Republic of China.

Dynasty Gold Corp. is a Canadian gold exploration company working in China with three prospective gold properties currently being explored through partnerships with AngloGold Ashanti and Avocet Mining.


Ivy Chong, Interim 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.

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