Dynacor Gold Mines Inc.: Drilling at Tumipampa Reveals High Levels of Anomalous Polymetallic Grades for Ag, Cu, Mo and Zn

MONTREAL, QUEBEC–(Marketwired – May 7, 2013) – Dynacor Gold Mines Inc. (“Dynacor” or “the Company”) (TSX:DNG) is pleased to announce the first results of its 2013 exploration drilling campaign, on its 100% owned Tumipampa property. The two-fold exploration program began in December 2012 and includes a drilling program focused on Zone 4 of the skarn and the excavation of a cross-cut (adit) into gold vein structures located south of the skarn. Assay results have been received for the first 6 drill holes, and they reveal high levels of anomalous assays for zinc (Zn), copper (Cu), silver (Ag), gold (Au) and lead (Pb).

All six drilling targets were selected based on geophysics chargeability anomalies (see geophysical survey data in the press release dated September 19, 2011) and coincident surface grab sample anomalies of Au, Ag, Cu and Zn also previously reported (see press releases dated March 7, 2011 and January 27, 2010).

A total of 2,232 meters has been drilled and 510 samples were collected and analyzed from Zone 4 of the skarn. The results discussed below are preliminary and the Company is expecting further assay results on a series of subsequent drill holes including drill holes to the south of Zone 4 as well as two holes that were drilled targeting mineralized vein structures also to the south of Zone 4. Further drilling results will be published when the complete set of assay results have been received and interpreted.

Table 1 below shows the distribution of anomalous values obtained for Au, Ag, Cu, Mo, Pb and Zn using the following cutoff levels to define an anomalous value: Au (0.05 g/t), Ag (0.01 oz/t), Cu (0.005%), Mo (5 ppm), Pb (0.005%) and Zn (0.005%). The anomalous values were found in altered monzonites in proximity to the carbonates (skarns), sheared and mineralized with pyrite, chalcopyrite and sphalerite. The data is consistent with a polymetallic skarn-like deposit.

The high percentage of anomalous values for silver (Ag) 40-86% and zinc (Zn) 30-99% in all the drill holes is very encouraging and requires further investigation. Few anomalous values for gold were observed in the 6 drill holes. Drill hole HDD-03 2012, has an intersection grading 2.24 g/t Au over 1.4 meters between 40.8 m and 42.2 m.

In Table 2 below, the most significant mineralized intercepts obtained from the six drill holes have been summarized.

Table 2

Significant intercepts from the drilling data obtained from 6 exploratory drill holes

The data in Table 2 also shows a wide intersection for silver grading 0.145 oz/t Ag over 19.3m in HDD-02 2013 and for zinc grading 0.34% Zn over 15.4m in HDD 03 2012 that are very interesting. Obviously, a lot more drilling will be necessary in order to gain a better understanding of patterns of polymetallic mineralization within the skarn.

The drilling is of HQ drill core size. The core is split, sampled, bagged and sent to the Certimin SAC laboratory in Lima for ICP analysis and for assays greater than 2 g/t Au a gravimetric FAA finish assay is used. Standards, blanks and duplicates are used in the core sampling process as part of the QA/QC procedure followed by Alonso Sanchez, V.P. of Exploration for Dynacor Gold Mines, B.Eng and QP under the American Institute of Professional Geologists (AIPG).

Manto Dorado: Excavation of a Cross-Cut

Dynacor has also excavated 140 meters of a 3m by 2.5m cross-cut (adit) that is being driven towards the gold mineralized Manto Dorado structure and the Veta Rosa gold mineralized vein. The Company is planning to excavate a total length of 300 meters in 2013 and the focus of the cross-cut campaign and underground definition drilling is to upgrade the historical resources of the 500 meter x 380 meter section of the Manto Dorado structure to NI 43-101 compliant resources. As of April 30, the Manto Dorado structure has been intersected at the 135 meters mark. Underground samples have been taken in the Manto Dorado and the Company is in the process of preparing the first samples for assaying. In 2008, this structure was intersected by two drill holes, returning high-grade gold mineralization grading 23.8 g/t Au over 1.2 m and 12.8 g/t Au over 1.4 m. Also surface sampling of an outcrop of the Manto Dorado returned a grade of 6.69 g/t Au over 4.90 m.

The assay results will be published as soon as they have been received back from the laboratory and interpreted.

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 mining and exploration company active in Peru through its subsidiaries since 1996. The Company differentiates itself from pure exploration companies as it also generates income and cash flow from its wholly owned ore processing plant in Peru. The Company’s assets include five exploration properties, including the Tumipampa property, along with its 220 tpd ore processing mill at Acari. Dynacor’s mill produces gold from the processing of ore purchased from local producers. Dynacor’s strength and competitive advantage comes with the experience, knowledge and vast network 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.

Dynacor Gold Mines Inc (TSX:DNG)

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