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Message: Completes $10,000,000 Equity Financing

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Completes $10,000,000 Equity Financing

posted on Feb 19, 09 08:53AM

February 19, 2009

Dynasty Metals & Mining Inc. Completes $10,000,000 Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Dynasty Metals & Mining Inc. (TSX:DMM) (the "Company") reports the closing of its previously-announced underwritten private placement offering of 2,500,000 common shares at a $4.00 per share for gross proceeds of $10,000,000. The offering was underwritten by Cormark Securities Inc., as lead underwriter, and Canaccord Capital Corporation.

The Company now has in excess of $25 million in cash to be used to fund the development of the Company's Ecuador properties, property acquisitions as well as for general corporate purposes.

The shares issued in the financing and any shares issued upon the exercise of broker warrants are subject to resale restrictions until June 20, 2009.

The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the "1933 Act"), as amended, or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

Recent Comments by President Correa

During a meeting with Canadian investors earlier this week, President Correa commented: "Canada has always been a good friend of Ecuador." He added: "In the mining sector, the majority (of investment) is Canadian. They are the ones that respect the environment and laws of the country." In an official press release, the Presidential Communication Secretary said, "the government is very interested in deepening contracts with Canada."

We welcome the President's comments and look forward to continuing our work with the government to develop a sustainable and responsible mining industry in Ecuador.

About Dynasty Metals & Mining

Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador.

The Company has two advanced-stage projects, Zaruma and Jerusalem, as well as a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the Dynasty Goldfield.

Dynasty Metals & Mining Inc.

Robert Washer, President and CEO

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