Dynasty Gold Announces Discovery of 15 Additional Historic Drill Data Assayed at 1.74 g/t over 125 Meters, Including 14.85 g/t over 3 Meters and Provides Airborne Magnetic Survey Details

Vancouver, British Columbia–(Newsfile Corp. – May 5, 2022) – Dynasty Gold Corp. (TSXV: DYG) (FSE: D5G1) (OTC PINK: DGDCF) (“Dynasty” or the “Company”) is pleased to report that it has located the results of 15 additional holes drilled between 1986 and 1988 by Noranda Exploration on the Thundercloud property in northwestern Ontario. This data was not included in the recent NI 43-101 Pelham resource estimate released in January of this year. See press release of January 4, 2022.

The table below summarizes some highlights of the newly located drill data. Pending the precise location of these holes and their integration into the current database of the Pelham zone, no conclusion can be drawn as to the impact of the new information on the current resource estimate in accordance with the NI 43-101 standard of 182,000 ounces of gold.

hole number

Since
metre

For
metre

intercepts
metre

August/t

86-PL-06

12.2

2:33 p.m.

2.13

2:33 p.m.

88-PH-01

16

18

2.00

7.37

88-PH-05

45

105.4

60.4

1.73

88-PH-10

36

161

125

1.74

Including:

36

37

1

8.57

50

53

3

14.85

52

53

1

38.39

89

90

1

10.97

111

112

1

9.6

120

131

2

7.03

The Company is evaluating this data and continues to attempt to locate additional important information for use in ongoing exploration work at Thundercloud.

Exploration Program Updates

A drone-assisted aerial survey should begin as soon as the ground is cleared. Following the completion of this survey and the evaluation of the new data obtained, the Company plans to initiate its first drill program to test areas with new drill targets identified in the western contact zone, and to increase documented resources in the Pelham area.

A review of previous geophysical work, including IP and magnetic surveys conducted by Teck Resources Limited, was completed. A collection of available geophysical images produced up to 2008 was sorted by theme and studied. Most historical IP and magnetic surveys have delineated zones of sulphide mineralization in the Pelham portion of the property using grid lines cut in an east-west direction. This line direction was not optimal for highlighting the Pelham Zone gabbros and associated mineralization which also trend east-west, but helped in understanding the area of ​​the West Contact Zone where the mineralized structures appear to be oriented north-south. As the detailed drone airborne magnetic survey will be conducted with lines closer to the right angles of the gabbro bodies and the Pelham area mineralization, it should provide new data to aid in the interpretation of the structure of the mineralization. of Pelham.

The drone airborne magnetic survey can also provide better definition of geological contacts and lineaments that may be associated with gold mineralization. The extended magnetic survey will cover the majority of the property where previous geophysics was completed with flight lines spaced 100m apart, reducing line spacing to 50m (including in the Pelham area) more structural information details will be acquired. Close survey work will include portions of the West Contact Zone where surface and trench samples taken in 2007 returned gold values ​​up to 8.02 g/t over 39 meters, including 89 g/t over 3 meters.

Caution note

The Company has not yet independently verified this drill data. He has reviewed other historical assay results and will review the additional information in detail before incorporating the results into the current database. The technical information contained in this press release has been reviewed by A. Lee Barker, a technical advisor to the Company and a qualified person as defined by National Instrument 43-101.

About Dynasty Gold Corp.

Dynasty Gold Corp. is a Canadian exploration company currently focused on gold exploration in North America with projects located in a greenstone belt in Ontario and in the Midas gold camp in Nevada. The Company is currently advancing its Thundercloud gold deposit which contains 182,000 oz of gold. The 43-101 Mineral Resource Report and related press release containing details of the resource are available on the Company’s website and have been filed at www.sedar.com. The 100% owned Golden Repeat Gold Project in the Midas Gold Camp in Elko County, Nevada is surrounded by a number of large-scale operating mines. In addition, Dynasty owns a 70% interest in the Hatu Qi2 gold mine in the Tien Shan gold belt, Xinjiang, China, which it is in dispute with Xinjiang Non-Ferrous Industrial Metals Group and its subsidiary Western Region Gold Co. .Ltd. . For more information, please visit the company’s websiteand www.dynastygoldcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF DYNASTY GOLD CORP.

“Ivy Chong”
_________________________________

Ivy Chong, President and CEO
For more information, please contact:
Vancouver office:
Ivy Chong
Phone: 604.633.2100. Email: [email protected]

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 accepts no responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122904

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