Dynasty Gold Corp.

Dynasty Gold Corp.

November 14, 2005 02:46 ET

Dynasty Gold Forms Strategic Alliance With Gold Producer Avocet Mining

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2005) - Dynasty Gold Corp. (TSX VENTURE:DYG) ("Dynasty" or the "Company") is pleased to announce a strategic alliance with Avocet Mining PLC ("Avocet") of London, England. Avocet has made an offer to purchase shares and rights to shares of Dynasty Gold, subject to regulatory approval, for an undiluted interest of up to 35.6% of the Company.

Avocet will purchase the shares and rights from Dynasty shareholders Tou Yeung, Wayne Koshman, Brilliance Holdings Inc. and Koshman International Holdings Ltd. In addition, Avocet has taken 2.75 million units in Dynasty's recently announced private placement (see Dynasty Press Release, November 14th, 2005.) Completion of the former transaction is expected by the end of November, at which time Avocet will own 21.4% of Dynasty. This interest will increase up to 35.6% if and when shares are issued by Dynasty under purchase agreements which have been assigned to Avocet.

Avocet is a mining company listed on London Stock Exchange's Alternative Investment Market (AIM). Avocet's principal activities are gold mining and exploration in Asia and it currently produces over 200,000 oz of gold per year from its three mining operations in Malaysia, Tajikistan, and Indonesia. Avocet views its investment in Dynasty as a strategic step towards expanding its gold resources in Central Asia. Avocet has proven experience in the development and operations of projects similar to that of Dynasty's Hatu project, and has taken the view that Hatu has the potential to be put into production within a relatively short time period. For more information on Avocet Mining, including its recent news release on this alliance, please refer to its website at www.avocet.co.uk .

Dynasty's President, Brian McEwen, views this alliance as a powerful asset for the Company. "Through a strategic alliance with Avocet, Dynasty gains both an experienced mining partner to help move our projects forward and an investor with a long-term vision for the company. We look forward to the benefits from the synergy of technical and corporate resources offered by this partnership."

Dynasty Gold would like to acknowledge the efforts of Caledon Resources plc, also a major shareholder of the Company, in the introduction of Avocet to the Company. Caledon's management has had a long-standing relationship with Avocet management on past mining related business in Asia.

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)