MONTREAL, QUEBEC — (Marketwire) — 07/22/11 — Dynacor Gold Mines Inc. („Dynacor“ or „the Company“) (TSX: DNG) is pleased to announce operating results for the second quarter of 2011. During Q2, the Company-s custom milling operation produced a quarterly record of 11,808 ounces of gold, and during the first 6-months of 2011 a record of 21,734 ounces,up from 12,471 in 2010, an increase of 74 %. Silver production also increased to a record 40,416 ounces for the 6-month period up from 18,629 ounces in 2010 an increase of 117%.
Custom Milling Highlights:
Jean Martineau, President and CEO of Dynacor, stated: „Dynacor reported its best quarter in gold production since inception of the Company. I am elated with achieving this milestone along with the fact Dynacor-s Peruvian operating team is consistently delivering quarterly year to year increases in gold and silver production (see Table 1 below). We expect to increase the milling rate to 200 tpd by the end of 2011 and we are on course to attain our 2011 production guidance of 45,000 ounces of gold. Dynacor is planning to further increase its custom milling capacity in 2012 with an initial goal of 225 tons per day.“
Table 1 GOLD & SILVER PRODUCTION FROM CUSTOM MILLING IN Q1 AND Q2 IN 2011 AND 2010
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold exploration and mining company active in Peru through its subsidiaries since 1996. The Company-s assets include the Acari, Casaden and Tumipampa exploration properties. Dynacor-s gold mill produces gold by custom milling. Dynacor-s strength and competitive advantage comes with the experience and knowledge the Company has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.
FORWARD LOOKING INFORMATION
Certain statements in the foregoing 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.
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Contacts: Dynacor Gold Mines Inc. Jean Martineau President & CEO 514-288-3224
Dale Nejmeldeen Investor Relations Dynacor Gold Mines Inc. 778.574.2806 or M:604.562.1348 604.608.9223 (FAX)
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