Dynasty Gold Corp.
TSX VENTURE : DYG

Dynasty Gold Corp.

July 20, 2005 12:15 ET

Dynasty Gold Announces Drilling Program at the Hatu Property, Northwest China

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 20, 2005) - Dynasty Gold Corp. (TSX VENTURE:DYG) ("Dynasty" or the "Company") announces that drilling has begun at the Hatu property, Xinjiang Province, northwest China. An initial six holes have been laid out based on the results of recent geological, geophysical and structural analysis. The Company plans to drill approximately 2000 m this year.

Dynasty has negotiated a release from the contract with the drilling company that was to start work at the end of May. A new contract has been signed with a local company which offers a substantial improvement in drilling costs while still supplying western-style drilling equipment and trained crews. The July start is not expected to impact the amount of drilling completed in the season.

The Hatu property hosts the Qi-2 deposit with an inferred resource of 912,600 ounces gold (see Dynasty News Release June 6, 2005). Using the interpretation from recent geological and magnetic surveys as well as previous drilling, four drill holes will be placed to test for an extension of the deposit to the east of the known mineralization, in an effort to increase the resource. A single hole will be drilled in the centre of the Qi-2 deposit to expand the knowledge of the geology and mineralization. A sixth hole will be drilled in the area one kilometer south of the Qi-2 deposit, where last years soil sample program outlined a large zone of anomalous gold values. The remaining holes will be situated based on the results of the initial holes.

Exploration Update

Hatu Project, Xinjiang Uygur Autonomous Region

The 2005 exploration program at Hatu is budgeted at approximately US$840,000. The following work has been completed to date this season:

- Emplacement of a 750 m trench across the soil anomaly zone

- Sampling of the above trench (assays pending)

- Soil, rock sampling (assays pending)

- Magnetometer survey over the Qi-2 deposit and surrounding area

The results from the initial stage of the magnetic survey over the Qi-2 deposit indicate a magnetic low coincident with the deposit area, and extending to the east. The relationship between the magnetic low and mineralization will be tested with some of the planned drill holes, and the magnetic survey will be expanded throughout the property area to look for similar targets. (To view the survey results please refer to the June Exploration Update on Dynasty's website, www.dynastygoldcorp.com.)

Red Valley Project, Qinghai Province

The Red Valley exploration program for 2005 is budgeted at approximately US$480,000. The camp was set up in May and geologists have completed the mapping of target areas and the collection of several hundred soil and rock samples, with assay results pending. Extensive trenching is underway across anomalies defined by the 2004 soil sampling program.

Wild Horse Project, Gansu Province

In April over 2000 square kilometres of exploration licenses were obtained within the Wild Horse project area. Consulting geologists have completed a detailed reconnaissance program of the license areas to establish target zones for exploration. Some samples were collected and the results of those assays and the consultants report are expected later in July.

Dynasty Gold Corp. is a Canadian based junior resource company focused on acquiring, exploring and developing gold projects in China.

ON BEHALF OF THE BOARD OF

DYNASTY GOLD CORP.

Brian R. McEwen, President

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

  • Dynasty Gold Corp.
    Christine Norcross
    (604) 633-2100 or Toll-Free: 1-888-899-9669
    or
    Dynasty Gold Corp.
    Dwayne Yaretz
    (604) 633-2100 or Toll-Free: 1-888-899-9669
    (604) 484-3559 (FAX)
    www.dynastygoldcorp.com