Dynacor Gold Intercepts 0.73% Cu Over 10.6m Including 3.55% Cu, 72.27 g/t Ag and 1.13 g/t Au Over 2.18 m at Tumipampa

MONTREAL, QUEBEC–(Marketwire – March 22, 2011) – Dynacor Gold Mines Inc. (“Dynacor” or “the Company”) (TSX:DNG) is pleased to anno unce the results obtained from its first hole drilled in zone 2 of the Tumipampa skarn. Although preliminary, the Company wishes to release these first results from drill hole HDD-01-11. This hole is the first in a drilling campaign of 30+ drill holes adding up to a total drilling length of 16,700 meters.

This first drill hole was 356.75 meters long and was located just under a 20 meter wide outcropping of the skarn in zone 2 (the 4 zones of the Tumipampa skarn have been defined in a previous press release dated 7th of March 2011). The objective was to explore the mineralization of the skarn structure in this zone. The drill hole intercepted the skarn 80 meters below the surface outcroping and two mineralized sections with widths of 12.75 meters and 10.6 meters were found. Hematite and other iron oxides, chalcopyrite, malachite, chalcocite, pyrite and epidote have been identified in these two segments.

As shown in Table 1 below, co pper, silver and gold mineralization appears to be significant in the two mineralized segments with widths of respectively 10.6 meters and 12.75 me ters. In the 10.6 meter segment, a high grade sub-segment with a width of 2.18 meters graded 3.55% C u, 72.27 g/t Ag and 1.13 g/t Au.

Table 1. Drill Hole HDD-01-11 i n Zone 2 of the Tumipampa skarn: copper, silver and gold mineralization in two segments

These results, although quite preliminary, are very encouraging and the Company plans to aggressively pursue its drilling campaign in the next few months. Further drilling results will be released when available as the exploration campaign pro gresses.

This Press Release has been read and approved by Alonso Sanchez, P. Eng. and Chief Geologist for Dynacor Gold Mines. He acts as the qualified person (“QP”) for the Company, and is a geologist affiliated to the American Institute of Professional Geologists (AIPG).

ABOUT DYNACOR GOLD MINES INC.

Dynacor is a gold exploration and mining company active in Peru through its subsidiaries since 1996. The Company’s assets include the Acari, Casaden and Tumipampa exploration properties. Dynacor’s gold mill produces gold by custom milling. Dynacor’s strength and competitive advantage comes with the experience and knowledge the Company has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.

FORWARD LOOKING INFORMATION

Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.