Dynacor Gold Mines increases its gold production capacity
Montr�al, Qu�bec, April 16, 2008 - Dynacor Gold Mines Inc. (Dynacor TSX: DNG) is pleased to announce that gold sales from the Company's custom milling operations at Acari reached 7,271 ounces during the first three months of 2008 showing a 69% increase as compared to the 4,311 ounces of gold sold during Q1 2007.
As previously announced (see Press Release dated January 16, 2008) the Company plans to gradually increase the ore milling capacity at its Acari plant to 150 tons/day during 2008. Phase 1 of this increase has now been completed and the Acari mill now has a daily capacity of 120 tons/day. It should be underlined that the Company has over the last two years doubled the capacity of the mill from an initial capacity of 60 tons/day.
During the month of February the Company installed a new additional ball mill (5.5x6ft) and a new 16x16ft. cyanidation tank. Both of these new pieces of equipment have been tested and are now fully operational. Installation of the Merrill Crowe unit is now completed and this equipment is undergoing extensive testing before being commissioned. Once it is operational it will enable the Company to further increase its production capacity.
Finally, Dynacor has opened a new gold ore purchasing office in Espinar/Cusco some 770 km south of the Acari where many new gold mining operations have emerged in the last two years.
Based on the Acari plant's current 120 tons per day milling capacity the Company is confident that it can produce more than 30,000 ounces of gold in 2008, through its custom milling operations. Furthermore, exploration and drilling of the Company's Tumipampa property is actively underway and Dynacor's expects to be able to report further drilling data for this property in the near future.
Iv�n Quiroz, Vice President Operations and Director, is a mining engineer and metallurgist, and a member of the Collegio de Ingenieros del Per�. He is Dynacor Gold's "Qualified Person" and is responsible for the technical information contained in this press release. Thus, Mr. Quiroz can testify to the precision and exactitude of the data and the mining and geological knowledge of the Acari plant, as required by National Instrument 43-101 and its annexes with respect to the reporting and content of this press release.
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold exploration and mining company, that has been active in Peru through its subsidiaries since 1996. The Company's assets include the Acari, Casaden and Tumipampa exploration properties. The Acari 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 Gold, 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.
For more information, please contact:
Jean Martineau
President & CEO
Dynacor Gold Mines Inc.
514 288-3224
Christina Lalli
Investor Relations
Dynacor Gold Mines Inc.
514 288-3224 ext. 224
RENMARK FINANCIAL COMMUNICATIONS INC.
JAMES BUCHANAN: JBUCHANAN@RENMARKFINANCIAL.COM
�RIC SAINT-PIERRE: ESTPIERRE@RENMARKFINANCIAL.COM
TEL.: 514 939-3989
FAX: 514 939-3717
WWW.RENMARKFINANCIAL.COM
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Dynacor Gold Mines
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PRODUCER |
CODE : DNG.TO |
ISIN : CA26779X1015 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Dynacor is a gold producing company based in Canada. Its main asset in production is ACARI in Peru and its main exploration properties are CASADEN and TUMIPAMPA in Peru. Dynacor is listed in Canada. Its market capitalisation is CA$ 210.7 millions as of today (US$ 151.0 millions, € 142.2 millions). Its stock quote reached its lowest recent point on November 21, 2008 at CA$ 0.10, and its highest recent level on November 04, 2024 at CA$ 5.93. Dynacor has 38 730 000 shares outstanding. |