Dynasty Gold Corp.

Dynasty Gold Corp.

August 03, 2011 09:30 ET

Dynasty Gold Announces Opinaca D 2011 Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 3, 2011) - Dynasty Gold Corp. (TSX VENTURE:DYG)(FRANKFURT:D5G) ("Dynasty" or the "Company") is pleased to announce 2011 exploration program on its Opinaca D property in the James Bay Region of Northern Quebec. The Opinaca D property is located 14 km north northwest of Goldcorp's Eleonore deposit and shares many geological similarities as Eleonore deposit. The Company signed a binding Letter of Intent with Azimut Exploration for the property on December 13, 2011 (please refer to December 21, 2010 press release for details).

Prior work conducted by Eastmain Resources on the property includes 3,093 soil geochemistry samples, 785 grab rock samples, and a helicopter-borne magnetic and VTEM survey covering 1,047 line-km. The soil samples revealed up to 7.3 g/t of gold. Several strong arsenic anomalies in lake-bottom sediment cover a large part of west, south and southeast side of the property. Eastmain's work has also identified a number of sediment–hosted gold targets, comparable to Goldcorp's Eleonore deposit in geological setting. The Eleonore deposit currently hosts over 3 million ounces of gold reserves at a grade of 7.56 g/t gold, and over 4 million ounces of inferred resources at a grade of over 10 g/t gold.

Dynasty's geological team was mobilized to a camp close to the property, La Sarcelle camp on July 27. The goal of this season's field work is to confirm drill targets previously identified by Eastmain Resources. The team will focus on 1:5000 geological and structural mapping of six priority target areas on the west corridor of the property and on the south southeast side of the property which is the closest to Eleonore Mine. The emphasis will be on four areas where geophysics and significant geochemistry anomalies pointed to the same drill target areas.

The summer exploration program also includes further soil and rock sampling. The sampling objectives are to increase sampling density on existing and known targets to close in on potential drill location. The pre-drilling field work is expected to be completed by the third week of August. Depending on geochemistry assay results and geological interpretation of data from mapping, the Company may initiate a drill program if drill locations can be confidently placed as a result of the field work currently underway.

The geological team is led by Michel Proulx, P. Geo. M.Sc, a member of the Ordre des géologues du Québec. Mr. Proulx has over 30 years of experience in exploration, and managed many exploration projects in Quebec for mining and exploration companies including Agnico-Eagle Mines Ltd, Virginia Mines and Osisko Mining Corporation. Mr. Proulx's expertise is in prospection and compilations, geological and geochemical survey, diamond drill management and core logging.

"We are very pleased with Michel's involvement, Michel's regional knowledge and past work experience in the area has added tremendous value and advantage to our program," commented Ivy Chong, the President and CEO. "We are also very grateful to Goldcorp's help in providing accommodation for our crew, and share many of their amenities. Their support has given us a huge lift in getting the program started on time, and under budget."

About Golden Repeat Property

The Company started exploration program on its other property, Golden Repeat in Nevada on July 7. Please refer to July 13, 2011 press release for details.

The Golden Repeat property consists of 49 claims located on the north slope of the Midas Trough, along the Carlin Trend, within the Northern Nevada Rift. These claims host many geological similarities to the well-known Midas Gold District. Ten miles to the east of the property is Newmont's Ken Snyder mine (6.41 million ounce gold reserves as of 2007 at over 14g/t), an epithermal, bonanza-type gold-silver bearing system. Additionally, three major sediment-hosted gold mines, Barrick's Getchell and Pinson Mines and Newmont's Twin Creeks Mine, lie 10-15 miles west of the property. Two distinct targets exist on the property. One is a volcanic-hosted epithermal occurrence, similar to Newmont's Ken Snyder deposit. The other is a sediment-hosted, gold mineralization beneath the tertiary volcanic rocks. The property was drilled by Goldfields in 1992 to 1994 and Romarco in 1997/1998. The most recent work done on the property was in 2006.

About Opinaca D Property

The Opinaca D property consists of 188 claims over a surface area of 98 km2. It is situated in the emerging Eleonore gold camp in the James Bay region of Quebec, and sits on the Eastmain Greenstone gold belt. The property is located about 14 km northwest of Goldcorp's Eleonore deposit. The Eleonore deposit hosts over 3 million ounces of gold reserves at a grade of 7.56 g/t gold, and over 4 million ounces of inferred resources at a grade of over 10 g/t gold.

Extensive surface exploration work done by Eastmain Resources between 2005 and 2008 has identified a number of sediment–hosted gold targets, similar to Goldcorp's Eleonore deposit in geological setting. Twelve drill targets were identified by VTEM and four coincided with significant geochemistry anomalies.

Goldcorp is currently investing $1.4 billion to build an underground mine to produce 600,000 ounces of gold from 2014. The Eleonore mine will contribute 22% of Goldcorp's total gold production. Dynasty's Opinaca D property will benefit from Goldcorp's infrastructure building in the area. In particular, a planned 60 km road, providing access to the Eleonore property, will directly crosscut the Opinaca D property. Major access to the region includes a north-south paved highway (LG2) extending from Matagami to Radisson.

About Dynasty Gold Corp.

Dynasty Gold Corp. is a Canadian gold exploration company currently focused on gold exploration in North American. Two active exploration programs in Nevada US and Quebec, Canada are underway. For more information on the Company and its projects, please refer to the website www.dynastygoldcorp.com.


Ivy Chong, 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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