Sutter Gold Mining Inc.
TSX VENTURE : SGM

Sutter Gold Mining Inc.

September 19, 2005 13:17 ET

Sutter Gold Sells Ecuador Mineral Claims

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 19, 2005) - Sutter Gold Mining Inc. (TSX VENTURE:SGM) ("Sutter", formerly known as Globemin Resources Inc. "Globemin") announced that it has entered into a letter agreement with Dynasty Metals & Mining Inc. ("Dynasty") (TSX VENTURE:DMM) to sell Sutter's three concessions located in the Portovelo region of southern Ecuador to Dynasty.

Dynasty is a Canadian based exploration company focused on gold exploration and development in southern Ecuador. Dynasty, through its indirect wholly owned subsidiary Elipe S.A., owns a 100% interest in three gold projects in Ecuador including a project comprising 41 concessions in the Portovelo region of Southern Ecuador (the "Zaruma Project").

Given that Sutter's Ecuador properties border Dynasty's Zaruma project and that Dynasty has an experienced exploration team in Ecuador lead by its president Robert Washer, the two companies agreed that the sale of the these concessions to Dynasty was the best way to advance exploration on the properties. Sutter can now focus its efforts on the Sutter Gold project in California.

Sutter has agreed to sell to Dynasty 100% of all right, title and interest in and to the three concessions free and clear of all encumbrances for 30,000 common shares of Dynasty. Dynasty will also be responsible for making all necessary payments to bring the properties into good standing. Sutter will retain a 2% NSR royalty on the properties, 50% of which Dynasty may purchase at any time from Sutter for $500,000. Sutter has retained a right of first refusal to re-acquire the properties from Dynasty in the event Dynasty elects to abandon them. The agreement is subject to TSX Venture Exchange approval.

About Sutter Gold Mine

The Sutter Gold project is situated on a contiguous 535-acre block of mining claims 45 miles east-southeast of Sacramento, California, in the central part of the 121-mile-long Mother Lode gold belt. The Sutter Gold project has been the subject of considerable modern exploration activity, most of it centering on the Lincoln and Comet zones, which are adjacent to each other and together referred to as the Lincoln project. A total of 85,085 feet of drilling have been accomplished in 190 diamond drill holes, and modern underground development consists of a 2,850-foot declined ramp with 2,400 feet of crosscuts plus four raises.


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