Dynasty Gold Signs Earn-in Agreement on Thundercloud Gold Project in Ontario
Press Release 18-02-1
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 Signs Earn-in Agreement on Thundercloud Gold Project in Ontario
February 1, 2018
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 option agreement with Teck
Resources Limited (TSX: TECK, “Teck”) to acquire a 100% interest in the Thundercloud gold
property (“the Property”) located in the Archean Ma nitou-Stormy Lakes Greenstone belt in Ontario.
The belt contains numerous gold showings, several d eposits and historic past producers including the
Big Master Mine (1902-1943) and the Laurentian Mine (1906-1909). Results to date indicate
excellent potential to define bulk-tonnage orogenic gold mineralization with potential for high grade
mineralization.
The Property
The Property consists of 2,250 hectares, located 47 kilometres southeast of Dryden, northern Ontario.
It is readily accessible from the Trans-Canada High way (Hwy 17). Dryden is a resource-based town
with excellent infrastructure necessary for mining operations. Several large scale mining operations
in the area include New Gold’s Rainy River Mine (6. 4 million oz gold and 18.7 million oz silver),
and Goldcorp’s Red Lake Gold Mine (9.25 million oz gold) as well as multiple multi-million ounce
gold reserves, defined at the Canadian Malartic Ham mond Reef deposit (5.8 million oz gold), and
First Mining Gold’s Springpole deposit (4.9 million oz gold).
Highlights of drill results from historic work and the recent drilling by Teck (2007 and 2008) and
Laurentian Goldfields (2011) include:
• 113.0 m @ 1.72 g/t Au (88-10)
• 60.30 m @ 1.46 g/t Au (88-05)
• 55.25 m @ 2.19 g/t Au (TC08-11), including 1 m @ 37.5 g/t Au, 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 (TC08-09)
• 68.8 m @ 1.55 g/t Au (TC11-001)
• 81.0 m @ 1.31 g/t Au (TC11-006)
The highest grade from historical drilling returned up to 192.7 g/t gold over narrow intervals.
Fladgate Exploration Consulting was contracted in 2 011 to create a 3D resource model of the
Thundercloud historical drill data, assuming a spec ific gravity of 2.7 for all rocks. The model for
the Pelham Zone exploration target showed an estima ted potential amount of contained gold of
300,000 ounces, at a head grade of 1.6 g/t Au, usin g a 0.5 g/t cut-off grade, in the different grade
shells. This initial resource estimate was develop ed for targeting purposes, and it is not National
Instrument 43-101 compliant.
Press Release 18-02-1
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
The main focus of the work in the past was in the P elham Zone with limited drilling. The West
Contact Zone, where trenching results in 2006 and 2007 consistently returned 1.0-9.8 g/t Au, 8.02 g/t
Au over 39.0 m’s including 89.4 g/t over 3.0 m, has seen little follow up work.
The Company has not independently verified any of the results reported in this news release.
Terms
Subject to the Exchange’s approval, the Company has an option to earn up to a 100% interest in the
Property by spending $6 million over five years and by issuing 1,000,000 common shares of the
Company to Teck. The first 500,000 common shares a re to be issued within 7 days of the
Exchange’s approval of the option agreement and the second 500,000 common shares are to be
issued on the first anniversary of signing of the a greement. The Company must spend $300,000 in
mandatory expenditures in the first year.
Teck retains a back-in right to earn back to a 65% interest in the Property by spending $15 million
over four years (“Back-in Right”). Teck can elect t o pursue the Back-in Right by delivering notice
within 90 days following receipt of the Dynasty Exp enditure Notice. If the Back-in Right is not
exercised, Teck would retain a 2% net smelter retur ns royalty (“NSR”) that can be reduced by the
Company to a 1.5% NSR by making a cash payment of $1 million to Teck.
“It is an exciting project with high grade targets as well as bulk tonnage potential. We will be able to
build on the good work done by Teck and others as w e plan a drill program,” said Larry Kornze,
Vice President of Exploration.
“The Property is in a proven and well established m ining district with many multi-million oz gold
deposits and developed reserves,” stated Ivy Chong, President and CEO. “It is a great opportunity for
the Company to expand its portfolio into one of the most prolific mining areas in North America.”
The Company's Director, Larry Kornze, a 'qualified person' for the purposes of National Instrument
43-101 Standards of Disclosure for Mineral Properti es, has reviewed the technical data contained in
this news release.
About Thundercloud Property
Geology
The Manitou-Stormy Lakes Greenstone belt lies withi n the western Wabigoon Subprovince, a
granite-greenstone terrane of the Superior Province . A number of thick volcano-sedimentary
sequences consisting of mafic to felsic lavas and a ssociated intrusions and pyroclastic rocks, all of
which are generally overlain by sedimentary sequenc es, characterize the belt. Gold-bearing
mineralized zones are focused in a north-south corr idor within the central portion of the property.
Host rocks comprise tholeiitic basalts overlain by a suite of clastic rocks of the Stormy Lake Group,
including conglomerates, breccias and sandstones with a wide range in matrix and clast compositions.
Press Release 18-02-1
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
These rocks form a structurally complex central cor ridor between the intermediate composition
Taylor Lake stock (2695±4 Ma: Davis et al. 1982) to the west and the felsic Thundercloud quartz-
feldspar porphyry (“QFP”) to the east.
Mineralization
Gold is associated with hydrothermal alteration domains characterized by biotite-magnetite alteration
with minor quartz veins and pyrrhotite. Biotite-mag netite alteration is in turn cut by chlorite-
carbonate and pyrite. Both pyrrhotite and pyrite oc cur as disseminations, clots and veins, and are
variably strained. In general, there is a correlat ion between sulphide concentration and gold grade,
though a high ratio of pyrrhotite relative to pyrite appears to be the key for gold enrichment.
Given the importance of magnetite and pyrrhotite in the hydrothermal assemblage, several untested
ground magnetic targets warrant trenching and/or dr ill testing. The presence of sulphides in
association with gold suggests that chargeability i s a key targeting tool, and this is confirmed by an
excellent association of gold with a strong chargea bility anomaly in the Pelham area. Additional
modelled chargeability anomalies remain untested.
About Dynasty Gold Corp.
Dynasty Gold Corp. is a Canadian gold exploration c ompany currently focused on gold
exploration in North America. For more information on the Company and its project s, please
refer to the website 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.