Dynacor reports net earnings of $0.8 M for Q1 2009



    Symbol: DNG
    Toronto Stock Exchange (TSX)

    MONTREAL, May 19 /CNW Telbec/ - Dynacor Gold Mines Inc. (TSX: DNG) is
pleased to report its financial results for the first quarter of 2009 ended
March 31, 2009. The consolidated financial statements (all currency figures
appear in Canadian dollars unless otherwise specified) along with management's
discussion and analysis are available on the Company's website
(www.dynacorgold.com) and have been filed electronically on SEDAR
www.sedar.com.

    
    Q1 2009 HIGHLIGHTS

    - Net earnings of $0.8 M ($0.2 M in 2008) for an earning per share of
      $0.03 ($0.01 in 2008)
    - Gold sales increased by 24% to reach 8,999 ounces (as compared to 7,266
      ounces in Q1 2008)
    - Cash and cash equivalents and short term investments equal to $2.1 M
    - Cash flow generated from operating activities before change in non-cash
      working capital of $0.9 M ($0.4M for Q1 2008)
    - Gross margin before amortization of $206 as compared to $114 for the
      corresponding period in 2008
    

    2009 OUTLOOK

    Dynacor plans to continue the exploration of the Tumipampa property in
2009. The Company didn't complete any surveys during the three-month period
ended March 31, 2009, as it is still waiting for a portion of the receivable
sale taxes that is withheld by the Peruvian tax authorities. Also, prior to
launching the drilling campaign, the Company wishes to carry out some detailed
geochemical surface surveys, to complete systematic sampling as well as a
precise geophysical data synthesis and analysis in order to better target
future drilling locations and to estimate the dimensions of the Skarn
structure.

    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.




For further information:

For further information: Jean Martineau, President & CEO, Dynacor Gold
Mines Inc., (514) 288-3224

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DYNACOR GOLD MINES INC.

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