Dynasty Gold Acquires 100% Teck’s Interest in the Thundercloud Gold Property in Ontario
Press Release 21-09-02
Trading Symbols: TSX-V: DYG
FWB: D5G
OTC: DGDCF
1613 - 610 Granville Street
Vancouver, BC, V6C 3T3
Tel. (604) 633-2100
Fax: (604) 484-3559
www.dynastygoldcorp.com
Dynasty Gold Acquires 100% Teck’s Interest in the Thundercloud Gold
Property in Ontario
September 27, 2021
Vancouver, Canada: Dynasty Gold Corp. (TSX-V: DYG) (FWB: D5G) (OTC: DGDCF) ("Dynasty"
or the "Company") is pleased to announce that it ha s signed an Amending Agreement with Teck
Resources Limited (“Teck”) whereby Dynasty will be deemed to have exercised its option, pursuant
to an option agreement dated January 30, 2018 (see press release dated February 1, 2018), on the
Thundercloud gold property (the “Property”). Exerci se of the option, upon completion of a cash
payment, will result in Dynasty acquiring 100% of T eck’s interest in the Thundercloud gold property
(“the Property”), subject to Teck retaining a 2% ne t smelter returns royalty (“NSR”).
“We are delighted to have secured 100% of Teck’s in terest in the Thundercloud property in one of
the most desirable mining camps in Canada,” stated Ivy Chong, Dynasty’s President and CEO. “We
appreciate Teck’s cooperation and support as well a s that of all other stakeholders since signing the
option agreement. We look forward to developing the project and building relationships with local
communities for the benefit of all.”
Historic drilling on the Property intersected 14 g/t Au over 3 m including 192.7 g/t Au over 0.55 m .
Other notable drill results include:
• 113.0 m @ 1.72 g/t Au
• 60.30 m @ 1.46 g/t Au
• 55.25 m @ 2.19 g/t Au, including 1 m @ 37.5 g/t A u, 9.34 m @ 7.91 g/t Au and 21.73 m @ 4.63
g/t Au
• 29.66 m @ 0.77 g/t Au including 9.04 m @ 2.20 g/t Au
• 68.8 m @ 1.55 g/t Au
• 81.0 m @ 1.31 g/t Au
The Thundercloud property is in the Archean Manitou-Stormy Lakes Greenstone belt in Ontario. The
belt contains numerous gold showings, several large high grade mines discovered in the area,
including the Big Master Mine (1902-1943) and the L aurentian Mine (1906-1909), as well as recent
gold discoveries including New Gold’s Rainy River M ine (6.4 million oz gold and 18.7 million oz
silver), and Agnico Eagle’s Hammond Reef deposit (5 .8 million oz gold). Potential discoveries for
Thundercloud include bulk-tonnage orogenic gold mineralization or high grade deposits.
Terms
In consideration of Dynasty being deemed to have ex ercised its option and Teck waiving its back-in
right, the Company will make a $100,000 payment, an d will pay $2,000,000 upon a production
decision. Teck retains a 2% NSR that can be reduce d to a 1.5% NSR for $1,000,000. The Company
has also granted Teck the right to receive 40% of a ny net sale proceeds if the Property is sold or
Press Release 21-09-02
Trading Symbols: TSX-V: DYG
FWB: D5G
OTC: DGDCF
1613 - 610 Granville Street
Vancouver, BC, V6C 3T3
Tel. (604) 633-2100
Fax: (604) 484-3559
www.dynastygoldcorp.com
optioned within six years of signing the Amending Agreement.
Richard R. Redfern, MSc, certified professional geo logist, a director of the company and a qualified
person for the purposes of National Instrument 43-1 01, has reviewed the technical data contained in
this news release.
About the Thundercloud Property
The Thundercloud Property is located in the central Wabigoon greenstone belt in Western Ontario,
47 kilometres southwest of Dryden. The geological s etting is comparable to the Abitibi belt in
Eastern Ontario but is much less explored. Close to 30 M oz of gold have been discovered in recent
years, including several large-scale mining operations nearby.
About Dynasty Gold Corp.
Dynasty Gold Corp. is a Canadian exploration compan y currently focused on gold exploration in
North America with projects located in a greenstone belt in Ontario and the Midas gold camp in
Nevada. In addition currently, the 70% owned Hatu Q i2 gold mine in the Tien Shan Gold belt,
Xinjiang, China, is in legal dispute with Xinjiang Non-Ferrous Industrial Metals Group and its
subsidiary Western Region Gold Co. Ltd.. For more information, please visit the Company’s we bsite
www.dynastygoldcorp.com .
ON BEHALF OF THE BOARD OF
DYNASTY GOLD CORP.
“Ivy Chong”
_________________________________
Ivy Chong, President & CEO
For additional 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 res ults and future events could differ materially from those anticipated in such statements. The TSX
Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.