Dynacor Provides Construction Progress Update ON Plant Expansion Enabling 43% Increase IN Nameplate ORE-Processing Capacity and Announces First -Quarter 2021 Financial Results Release Date
DYNACOR PROVIDES CONSTRUCTION PROGRESS UPDATE ON PLANT
EXPANSION ENABLING 43% INCREASE IN NAMEPLATE ORE-PROCESSING
CAPACITY AND ANNOUNCES FIRST -QUARTER 2021 FINANCIAL RESULTS
RELEASE DATE
Montreal, May 6th, 2021 – Dynacor Gold Mines Inc. (TSX-DNG) (Dynacor or the
"Corporation"), an international gold ore industrial corporation servicing ASMs (artisanal
and small-scale miners), is pleased to provide a construction progress update on its plant
capacity increase at Chala, Peru. The new plant expansion, which is on schedule, will
enable a 43% nameplate increase in ore processing capacity, improve cost efficiencies,
increase production, create jobs and elevate Dynacor as Peru's largest ASM gold ore
purchaser and processer.
The expansion nearing completion will permit Dynacor to maintain its industry -leading
gold recovery rate and boost processing volumes to 430 tonnes per day (TPD). Due to a
significant rise in ore supply over the last number of months, Dynacor has been stea dily
growing its throughput levels from its nameplate capacity of 300 TPD. As of today, the
plant is operating at its maximum rate of 345 TPD. The construction, which began in
March, is progressing as planned and will be complete in June 2021.
The concret e pads allowing placement of the new agitation tank and the ball mill are
complete. The construction crew is assembling the agitation tank and, within the coming
weeks, will be installing the new ball mill. The Corporation is pleased to announce it is
within the initial budget set at US$1.8 million. In addition, Dynacor is working on building
more concrete pads for excess mineral deliveries and widening the roadworks to the
crushing station.
First Quarter 2021 Financial Results
Dynacor will publish its first-quarter 2021 financial results news release on Monday, May
17th, 2021, before the market opens.
ABOUT DYNACOR
Dynacor is a dividend -paying industrial gold ore processor headquartered in Montreal,
Canada. The corporation is engaged in gold production through the processing of ore
purchased from the ASM (artisanal and small-scale mining) industry. At present, Dynacor
operates in Peru, where its management and processing teams have decades of
experience working with ASM miners. It also owns a gold exploration property
(Tumipampa) in the Apurimac department.
The corporation intends to expand its processing operations in other jurisdictions as well.
Dynacor produces environmental and socially responsible gold through its PX IMPACT®
gold program. A growing number of supportive firms from the fine luxury jewelry,
watchmakers and investment sectors pay a small premium to our customer and strategic
partner for this PX IMPACT® gold. The premium provides direct investment to develop
health and education projects for our artisanal and small-scale miner’s communities.
Dynacor is listed on the Toronto Stock Exchange (DNG) and the OTC in the United States
under the symbol (DNGDF).
FORWARD-LOOKING INFORMATION
Certain statements in the preceding 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.
Toronto Stock Exchange (TSX): DNG
OTC (United States): DNGDF
Shares Outstanding: 38,727,524
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
CONTACT: For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Gold Mines Inc.
T: 514-393-9000 #230