Dynasty Metals & Mining Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company's loss and comprehensive loss was CAD 1,197,018 or CAD 0.03 per share compared to CAD 781,511 or CAD 0.02 per share a year ago. Net cash used in operating activities was CAD 1,494,176 compared with CAD 661,873 a year ago. The company reported purchase of equipment of CAD 2,777,510 compared with CAD 1,008,022 a year ago. The company reported expenditures on mineral properties of CAD 460,267 compared with CAD 1,016,568 a year ago. For the nine months, the company's loss and comprehensive loss was CAD 4,278,077 or CAD 0.12 per share compared to CAD 2,097,561 or CAD 0.07 per share a year ago. Net cash used in operating activities was CAD 3,809,430 compared with CAD 1,529,370 a year ago. The company reported purchase of equipment of CAD 10,030,924 compared with CAD 7,259,167 a year ago. The company reported expenditures on mineral properties of CAD 1,816,955 compared with CAD 4,196,664 a year ago.

Dynasty Metals & Mining Inc. announced the company has poured its first gold at its recently commissioned gold processing plant at Zaruma in Ecuador. In total, the dory bars poured by the company contained approximately 10 kilograms (320 ounces) of gold and 50 kilograms (1,600 ounces) of silver.

Dynasty Metals & Mining Inc. has completed a thorough review of its operations and hereby provides the following update to shareholders. The Zaruma Gold Project comprises 46 concessions located in the El Oro Province of southwestern Ecuador. The company has mine development and plant operating permits to mine and process materials from several concessions on which the company conducted exploration activities, the results of which are included in the gold resources estimate. The company will make application for additional mining permits in the area as required and as new resources are identified through exploration activities. The company has successfully commissioned all sections of its gold processing plant at Zaruma, with the exception of the carbon stripping section where gold, which has been absorbed into the carbon, is stripped and separated from other constituent metals. Once the level of gold absorbed in the carbon has reached capacity, the company will commence the carbon stripping process and pour its first gold bar, which is expected in the near future.