Dynasty Metals & Mining Inc.

Dynasty Metals & Mining Inc.

March 17, 2010 08:14 ET

Dynasty Metals & Mining Inc. Announces $10,000,000 Bought Deal Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2010) -


Dynasty Metals & Mining Inc. (TSX:DMM) (the "Corporation") announces that the Corporation has entered into an agreement with Cormark Securities Inc. and Canaccord Financial Ltd. as co-lead underwriters (the "Underwriters") pursuant to which the Underwriters have agreed to purchase 2,500,000 Units on a "bought deal" private placement basis at a price of $4.00 per Unit (the 'Issue Price'). Each Unit shall consist one common share and one half of one common share purchase warrant (a "Warrant"). Each whole Warrant will be exercisable at a price of $5.00 for a period of 12 months from the closing date.

The Corporation will pay the Underwriters a cash commission equal to 6.0% of the gross proceeds of the offering and issue broker warrants to acquire up to that number of common shares as is equal to 6.0% of the aggregate number of Units issued pursuant to the Offering at a price of $4.00 (subject to TSX approval) per common share for a period of 12 months following the closing date.

Closing of the offering is anticipated to occur on or before April 1, 2010 and is subject to receipt of applicable regulatory approvals including approval of the Toronto Stock Exchange.

The proceeds of the financing will be used to fund development of the Corporation's Ecuador properties, property acquisitions as well as for general corporate purposes.

About Dynasty Metals & Mining

Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador.

The Company has the in production Zaruma Gold Project, the advanced-stage Jerusalem Project, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the advanced-stage Dynasty Goldfield.

Dynasty Metals & Mining Inc.

Robert Washer, President and CEO

The TSX does not accept responsibility for the adequacy or accuracy of this release.

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