|October 20, 2005|
Dynasty Gold Corp. Announces Private Placement Financing
|Vancouver, Canada: Dynasty Gold Corp. (TSX-V: DYG) ("Dynasty" or the "Company") announces that it plans to complete a non-brokered private placement of up to 7,222,222 units at a price of CDN$0.18 per unit for gross proceeds of CDN$1,300,000. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at CDN$0.30 per share for up to 12 months from the date of closing. The private placement is subject to the approval of the TSX Venture Exchange.|
The Company will use the proceeds of the private placement to fund the exploration and development of the Company's projects in North West China, and cover working capital.
Dynasty Gold Corp. is a Canadian based junior resource company focused on acquiring, exploring and developing gold prospects in China.
ON BEHALF OF THE BOARD OF
DYNASTY GOLD CORP.
"Brian R. McEwen"
Brian R. McEwen, President
This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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