BEACHMAN PROVEN WRONG AGAIN .....From the other board, read the following article about another company "reconfirming" its title to the concessions it had (and which had been cancelled at the time the new mining law went into effect). I GUESS BEACHMAN'S ASSERTION PLE WROTE THEIR CONCESSIONS OFF BECAUSE THEY ARE VALUELESS WAS WRONG.
DYNASTY RECEIVES RECONFIRMATION OF TITLE TO ALL PREVIOUSLY HELD MINING CONCESSIONS
Vancouver, B.C., May 27, 2010 - Dynasty Metals & Mining Inc. (TSX: DMM, OTCQX: DMMIF, "Dynasty" or the "Company") is pleased to announce that the Company has completed the substitution of all of its mining titles with the Ministry of Non-renewable Natural Resources and that all of its previously held concessions at the Zaruma Gold, Jerusalem and Dynasty Goldfield projects have been reconfirmed, as required under the new Ecuadorian mining act and regulations (collectively the "new mining law").
Robert Washer, President and CEO of Dynasty commented, "This reconfirmation assures the security of tenure and good standing of the Company's concessions under the new mining law. This was a necessary step to further progress the negotiation of an exploitation contract with the Government." Mr. Washer further commented, "Last week, I had the pleasure of meeting the new Minister of Non-renewable Natural Resources, Wilson Pastor, the Vice Minister of Mines, Luis Bustamante, and other government officials, to update them on our operations and progress. The meeting was positive and I look forward to working closely with the Ministry in the future."
MINING UPDATE
The Company continues to make steady progress on all three declines at the Zaruma Gold project. To date the Company has developed approximately 3.5 kilometres of tunnels to a vertical depth of between 65 to over 200 metres depending on the decline. The Company has reached and commenced development of the resource at its main decline, "Cabo de Hornos" and currently expects to commence mining the resource in approximately thirty days.
With respect to the other declines, based on current mining plans, the Company projects to reach the resource at "Barbasco" towards the end of the second quarter and at Ayapamba at the start of the third quarter of this year.
The Company has continued to strengthen its mine management team, with the employment of two additional experienced underground mining supervisors from Australia.
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 the near production Zaruma Gold Project, the advanced-stage Jerusalem Project, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the Dynasty Goldfield.