Dynasty Gold Corp.

Dynasty Gold Corp.

November 14, 2005 02:38 ET

Dynasty Gold Closes $1,554,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2005) - Dynasty Gold Corp. (TSX VENTURE:DYG) ("Dynasty" or the "Company") is pleased to announce that the previously announced private placement for 8,633,333 units at a price of $0.18 per unit for gross proceeds of CDN $1,554,000 is now closed. Each unit consists of one common share and one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one common share at an exercise price of $0.30 per share for up to 12 months from the date of closing. The shares and the warrants to be issued will be subject to a four month hold from the date of closing of the private placement. This private placement is subject to approval by the TSX Venture Exchange.

The proceeds of the offering will be used to fund the exploration and development of the Company's projects in North West China and cover working capital.

Caledon Resources plc ("Caledon"), of London, United Kingdom, has participated in the private placement to maintain their interest in Dynasty at approximately 15%.

Dynasty is a Canadian based junior resource company focused on acquiring, exploring and developing gold prospects in China. For more information on the company's projects please refer to www.dynastygoldcorp.com.


"Brian R. McEwen"

Brian R. McEwen, PGeol, 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

  • Dynasty Gold Corp.
    Christine Norcross or Dwayne Yaretz
    604-633-2100 or toll free 1-888-899-9669
    604-484-3559 (FAX)