Dynasty Gold Announces 2024 Annual General Meeting Results and Provides Thundercloud Drilling Update

Rhea-AI Summary

Dynasty Gold Corp. (TSXV: DYG) (OTC Pink: DGDCF) held its 2024 annual general meeting on October 4, 2024, with over 42% of shares represented. All resolutions were approved, and directors Ivy Chong, Roman Shklanka, Larry Kornze, and Richard Redfern were re-elected. The company provided an update on its Thundercloud project, located 47 km southeast of Dryden, Ontario. Since acquiring the property in 2021, Dynasty has conducted three drill campaigns totaling 7,350 meters, intersecting high-grade gold zones. Recent results include 5.1 g/t over 18 meters with grades up to 24.53 g/t. An internal 3D geological resource model suggests potential for a 150% increase in resource estimate and 50% improvement in grade for an open pit resource. The company is debt-free with approximately 61 million shares outstanding, with 40% owned by insiders and long-term shareholders. Rob McEwen, founder of McEwen Mining Inc., is the largest shareholder with a 9.7% stake.

Positive

• High-grade gold intersections in Thundercloud project drilling, including 5.1 g/t over 18 meters
• Internal 3D geological resource model suggests potential 150% increase in resource estimate and 50% improvement in grade
• Solid financial position with no debt
• Strong insider and long-term shareholder ownership at 40%
• Rob McEwen, prominent mining figure, owns 9.7% of the company as largest shareholder

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - October 10, 2024) - Dynasty Gold Corp. (TSXV: DYG) (FSE: D5G1) (OTC Pink: DGDCF) ("Dynasty" or the "Company") is pleased to report the results from its 2024 annual general meeting held on Friday, Oct. 4, 2024. Total vote counts represent more than 42% of total issued and outstanding shares. All resolutions put forward to the shareholders were approved. The following directors were elected to hold office until the next annual general meeting of the Company:

Ivy Chong	99.98%
Roman Shklanka	99.98%
Larry Kornze	98.93%
Richard Redfern	98.92%

Dynasty would like to thank its shareholders for their votes and attendance at the meeting.

Thundercloud Project Progress Update

The Company's brownfield Thundercloud project is in an emerging gold camp located in the Manitou-Stormy Lake greenstone belt in Ontario, 47 kilometers southeast of Dryden, a city which is equipped with mining amenities. Following a 100% property acquisition from Teck Resources Limited (TECK) in October 2021, the Company launched three drill campaigns between 2022 and 2024 for a total of 7,350 meters. In three consecutive years, drilling intersected broad, shallow high-grade zones of gold including 8.4 g/t over 73.5 meters with 246 g/t over 1.5 meters (DP22-03), and 6.5 g/t over 34 meters (DP22-02) in 2022. In 2023, assay results returned 11.0 g/t over 12 meters (DP23-04) and 7.14 g/t over 14.8 meters (DP23-03). This year, the Company continued to intersect grades as high as 24.53 g/t within a broad zone of mineralization of 5.1 g/t over 18 meters. Additional results are pending.

Based on 2022 and 2023 drill results, an internally generated 3D geological resource model indicated that the NI 43-101 resource estimate (Sept. 27, 2021) can potentially grow by 150%, (more than doubled) and grade can be improved by more than 50% for an open pit resource. This geological resource model does not include 2024 drill results. For more information, please visit the company's website at www.dynastygoldcorp.com.

Roman Shklanka, Ph.D. (Geology), Director, states: "This project looks very promising of becoming a mine, given these grades and shallow intercepts. Large tonnage is not required for profitability. Additional drilling will further define mineralization along strike and at depth to unlock the total property potential."

What to Expect

1. More results from the recently completed drill program are expected soon.

2. An exploratory drill program in the West Contact zone has begun. It aims to further test the currently obtained trench assay of 8.04 g/t over 39 meters. Other drill holes will test area of chargeability highs. These targets are about 500 meters to 1 kilometer south of the Pelham resource where there is no previous drilling. Results are expected in the next few weeks.

Financial Position and Share Ownership

Dynasty maintains a solid financial position with no debt and approximately 61 million shares issued and outstanding. About 40% of the shares are owned by insiders and long-term shareholders. In addition, the founder, executive chairman and largest shareholder of McEwen Mining Inc., and a member of the Mining Hall of Fame, Rob McEwen, owns 9.7% of the Company, as its largest shareholder, adding further strength to its shareholder base.

About Dynasty Gold Corp.

Dynasty Gold Corp. is a Canadian mineral exploration company currently focused on gold exploration in North America with projects located in the Manitou-Stormy Lake greenstone belt in Ontario and in the Midas gold camp in Nevada. The Company is currently advancing its Thundercloud gold resource in northwest Ontario. A NI 43-101 Independent Technical Report, dated Sept. 27, 2021, can be found on the Company's and SEDAR websites. 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. For more information, please visit the Company's 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: ichong@dynastygoldcorp.com

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 does not accept 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/226251

FAQ

What were the results of Dynasty Gold's 2024 annual general meeting?

Dynasty Gold's 2024 annual general meeting, held on October 4, 2024, saw all resolutions approved. Directors Ivy Chong, Roman Shklanka, Larry Kornze, and Richard Redfern were re-elected. Over 42% of total issued and outstanding shares were represented in the voting.

What are the recent drilling results from Dynasty Gold's Thundercloud project?

Recent drilling at the Thundercloud project intersected high-grade gold zones, with results including 5.1 g/t over 18 meters and grades as high as 24.53 g/t. Previous campaigns in 2022 and 2023 also yielded significant results, such as 8.4 g/t over 73.5 meters and 11.0 g/t over 12 meters.

How much potential growth does Dynasty Gold (DGDCF) see in its Thundercloud resource estimate?

Based on an internally generated 3D geological resource model, Dynasty Gold sees potential for a 150% increase in the NI 43-101 resource estimate and a 50% improvement in grade for an open pit resource at the Thundercloud project.

What is Dynasty Gold's (DGDCF) current financial and share ownership status?

Dynasty Gold maintains a solid financial position with no debt. The company has approximately 61 million shares outstanding, with 40% owned by insiders and long-term shareholders. Rob McEwen, founder of McEwen Mining Inc., is the largest shareholder with a 9.7% stake.