Tumipampa: three types of gold mineralization uncovered



    Dynacor Gold Mines Inc. (dynacor)
    Symbol: DNG
    Toronto Stock Exchange (TSX)

    MONTREAL, July 15 /CNW Telbec/ - Dynacor Gold Mines Inc. (Dynacor
TSX:DNG) is pleased to report the exploration results that it has obtained on
its 100% owned Tumipampa property. In late 2007, the Company began an
11,000 meter drilling campaign and a surface exploration programme. Initial
results were reported in February 2008 (see Press Release dated February 12,
2008) and the Company now reports on all the results obtained during the first
6 months of 2008.

    THE TUMIPAMPA PROJECT

    The Tumipampa project is located 500 km from the city of Lima, in the
Chapimarca district, Province of Aymaraes, Department of Apzrimac. Dynacor
Gold owns a total of 2,650 hectares which are adjacent to concessions being
explored by the following companies: Yamana Gold, Bear Creek and Southern
Peru. The area is composed of quartzite (Soraya formation) and limestone
(Ferrobamba formation) of the Cretaceous, which contain important epithermal
Au deposits, these structures are intruded by the Apzrimac batholite, a well
known metallotect that is related to many porphyric Cu and Au deposits in
Peru.

    
    Overall, the results obtained suggest that three different types of
mineralization can be encountered on the Tumipampa property, namely:

    1. Gold bearing vein structures with variable widths ranging from 0.1 to
       7 meters that are generally orientated along a N20degreesE/70degreesNW
       dip. The veins are mainly made-up of pyrite, chalcopyrite, hematite,
       iron oxides and grey-white quartz associated with the Soraya formation
       and the Apzrimac batholite.

    2. Disseminated gold mineralization associated with breccias in the
       quartzite rock.

    3. Gold, copper and iron mineralization associated with Skarn-type
       deposit at the interface between limestones and marbles (Ferrobamba
       formation) and the intrusive body.


    DRILLING RESULTS

    In Table 1, the results for 12 drill holes are summarized including the
veins or structures intersected.


    TABLE 1: TUMIPAMPA 2008 DIAMOND DRILLING RESULTS

    -------------------------------------------------------------------------
                                    Drill hole data
                           ---------------------------------
                   Drill                              Total     Intersection
    Vein            hole          Orienta.  Inclin.  length         Depth (m)
    -------------------------------------------------------------------------
    Vein 1          HDD1   N 40 degrees E      -60    99.80    44.00 - 46.45
    -------------------------------------------------------------------------
    Vein 1          HDD2    N 4 degrees E      -65    98.00    84.40 - 88.70
    -------------------------------------------------------------------------
    Manto Dorado    HDD3   S 50 degrees E      -80   101.50    26.10 - 52.22
    -------------------------------------------------------------------------
    Manto Dorado    HDD4   S 60 degrees E      -76   135.00    29.50 - 61.70
    -------------------------------------------------------------------------
    Manto Dorado    HDD5   S 60 degrees E      -78   104.20    54.40 - 61.50
    -------------------------------------------------------------------------
    Manto Dorado    HDD6   S 60 degrees E      -78   124.20    40.30 - 56.60
    -------------------------------------------------------------------------
    Rosa vein       HDD7   N 75 degrees E      -30   145.00    32.00 - 35.75
    -------------------------------------------------------------------------
    Vein A        HDD7-1                                     107.60 - 110.40
    -------------------------------------------------------------------------
    Vein A          HDD8   N 75 degrees E      -45   125.00    40.05 - 42.20
    -------------------------------------------------------------------------
    Caja vein     HDD8-1                                       45.00 - 47.75
    -------------------------------------------------------------------------
    Rosa vein       HDD9   N 75 degrees E      -40   134.50    48.85 - 52.00
    -------------------------------------------------------------------------
    Split vein    HDD9-1                                       56.50 - 56.85
    -------------------------------------------------------------------------
    Vein A        HDD9-2                                     122.60 - 124.10
    -------------------------------------------------------------------------
    Vein A         HDD10   N 75 degrees E      -35    85.60    65.10 - 67.05
    -------------------------------------------------------------------------
    Tumi vein      HDD11   N 75 degrees E      -35   250.85   99.85 - 101.65
    -------------------------------------------------------------------------
    Rosa vein    HDD11-1                                     137.50 - 145.80
    -------------------------------------------------------------------------
    Manto Dorado   HDD12                E      -35   126.50    74.75 - 91.83
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
                                     Width                 Mineralization
                         ---------------------------- -----------------------
                                        Mine-
                   Drill  Structure  ralized      Au      Cu      Ag      Zn
    Vein            hole         (m)      (m)    g/t      (%)  (oz/t)     (%)
    -------------------------------------------------------------------------
    Vein 1          HDD1       2.45     1.15   20.20   0.011   0.045   0.012
    -------------------------------------------------------------------------
    Vein 1          HDD2       4.30     1.30   0.005   0.001   0.016   0.003
    -------------------------------------------------------------------------
    Manto Dorado    HDD3      26.12     1.40  12.800   Trace   0.500   0.005
    -------------------------------------------------------------------------
    Manto Dorado    HDD4      30.26     3.57   0.103   0.011   0.058   0.050
    -------------------------------------------------------------------------
    Manto Dorado    HDD5       6.43     0.73   4.240   0.021   0.019   0.006
    -------------------------------------------------------------------------
    Manto Dorado    HDD6      15.00     1.20  23.800   0.077   0.090   0.013
    -------------------------------------------------------------------------
    Rosa vein       HDD7       3.25     0.65  13.800   0.054   0.090   0.013
    -------------------------------------------------------------------------
    Vein A        HDD7-1       2.80     2.80   Trace   0.007   0.072   0.053
    -------------------------------------------------------------------------
    Vein A          HDD8       2.06     1.28   1.245   0.003   0.048   0.005
    -------------------------------------------------------------------------
    Caja vein     HDD8-1       2.63     2.63   2.154   0.002   0.016   0.003
    -------------------------------------------------------------------------
    Rosa vein       HDD9       2.78     2.78   0.029   0.001   0.068   0.006
    -------------------------------------------------------------------------
    Split vein    HDD9-1       0.34     0.34  17.700   0.001   0.058   0.014
    -------------------------------------------------------------------------
    Vein A        HDD9-2       1.49     1.49   0.006   0.002   0.016   0.026
    -------------------------------------------------------------------------
    Vein A         HDD10       1.94     1.94   0.132   Trace   Trace   0.009
    -------------------------------------------------------------------------
    Tumi vein      HDD11       1.38     1.38   1.870   0.001   0.045   0.005
    -------------------------------------------------------------------------
    Rosa vein    HDD11-1       7.39     2.76   6.332   0.002   0.073   0.004
    -------------------------------------------------------------------------
    Manto Dorado   HDD12      14.94     1.95   0.175   0.003   0.022   0.006
    -------------------------------------------------------------------------

    Apart from the Manto Dorado structure that was intercepted by drill holes
HDD3, 4, 5, 6 and 12, six vein structures namely the veins 1, Rosa, A, Caja,
Split and Tumi were intersected and had gold grades ranging from traces to
20.2 g/t. The Rosa vein is a new discovery that was uncovered by drill holes
HDD7, 9 and 11-1 and the intercepts had gold grades of 13.8, 0.029 and
6.33 g/t, respectively. In order to ensure that international Quality
Assurance/Quality Control (QA/QC) procedures were followed an independent
expert was contracted (Geologica Groupe Conseil inc of Val d'Or, Canada) to
validate the description of the cores and the sampling procedures used.

    SURFACE EXPLORATION

    10 channel and grab samples were also taken from surface outcroppings of
the breccia in the quartzite rock of the Soraya formation that show evidence
of disseminated gold mineralization and are reported in Table 2 below.

    TABLE 2 - DISSEMINATED GOLD MINERALIZATION IN THE QUARZITE OF THE
              SORAYA FORMATION

    -------------------------------------------------------------------------
    Sample                 Width         Au         Ag         Cu         Mo
    number       Type         (m)       g/t        ppm        ppm        ppm
    -------------------------------------------------------------------------
    55711     Channel       0.35       0.05
    -------------------------------------------------------------------------
    55729     Channel       0.45       0.81        0.9         82         62
    -------------------------------------------------------------------------
    55730     Channel       0.30       0.39        1.6        158         23
    -------------------------------------------------------------------------
    55731     Channel       0.60       0.04
    -------------------------------------------------------------------------
    55736     Channel       1.50       0.26        0.5         24          2
    -------------------------------------------------------------------------
    55737     Channel       2.00       0.80        0.6         23          7
    -------------------------------------------------------------------------
    55739     Channel       1.30       0.15        0.5         13          5
    -------------------------------------------------------------------------
    55741     Channel       0.70       0.11        0.5         20          4
    -------------------------------------------------------------------------
    55742        Grab                  0.06
    -------------------------------------------------------------------------
    55744        Grab                  0.79        0.5         14          1
    -------------------------------------------------------------------------

    Finally, in Table 3 , the results for 25 channel and grab samples taken
from surface outcroppings of the limestone Ferrobamba (Skarn) formation are
reported. These samples showed gold, silver and copper mineralisation.
3 samples had approximately 1% copper and gold mineralisation ranging from
2.67g/t to 9.88 g/t. Twelve samples returned gold grades of over 1 g/t and up
to 15.65 g/t.

    TABLE 3: 25 CHANNEL AND GRAB SAMPLES TAKEN FROM SURFACE OUTCROPPINGS OF
             THE FERROBAMBA (SKARN) FORMATION

    -------------------------------------------------------------------------
    Sample                 Width         Au         Ag         Cu         Mo
    number       Type         (m)       g/t        ppm        ppm        ppm
    -------------------------------------------------------------------------
    1025      Channel       0.80       1.06
    -------------------------------------------------------------------------
    1026      Channel       0.70      15.65        1.7         17          4
    -------------------------------------------------------------------------
    1027         Grab                  1.06
    -------------------------------------------------------------------------
    1257         Grab                  0.17        1.0         20
    -------------------------------------------------------------------------
    1258         Grab                  0.28        3.0         32
    -------------------------------------------------------------------------
    1267         Grab                  0.15        0.9          8
    -------------------------------------------------------------------------
    1292      Channel       1.50       0.10
    -------------------------------------------------------------------------
    1294      Channel       1.50       0.33
    -------------------------------------------------------------------------
    1298      Channel       0.85       0.57
    -------------------------------------------------------------------------
    1299      Channel       1.60       0.11
    -------------------------------------------------------------------------
    1321      Channel       1.50       0.05
    -------------------------------------------------------------------------
    1326      Channel       1.50       0.06
    -------------------------------------------------------------------------
    1399      Channel       0.85       0.34
    -------------------------------------------------------------------------
    1442      Channel       0.65       3.72
    -------------------------------------------------------------------------
    1088      Channel       0.50       0.70
    -------------------------------------------------------------------------
    1089      Channel       0.50       0.09
    -------------------------------------------------------------------------
    1090      Channel       1.20       4.21       29.6      10000          8
    -------------------------------------------------------------------------
    1091      Channel       0.60       1.57
    -------------------------------------------------------------------------
    1097      Channel       0.50       1.85
    -------------------------------------------------------------------------
    1251      Channel       0.60       9.88      140.0      13300
    -------------------------------------------------------------------------
    1252      Channel       0.50       1.61        3.0       2880
    -------------------------------------------------------------------------
    1253      Channel       0.30       2.67       17.0      10000
    -------------------------------------------------------------------------
    1254      Channel       0.80       1.45        3.0       3440
    -------------------------------------------------------------------------
    1255      Channel       0.30       1.17       24.0       2820
    -------------------------------------------------------------------------
    1256      Channel                  0.13        1.0        303
    -------------------------------------------------------------------------
    

    The Company is currently working on the full interpretation of these
results and the conclusions will be reported as soon as they are available.
Nevertheless, based on the results in Table 3 the Company's chief geologist,
Alonso Sanchez, decided to immediately initiate an exploratory drill hole, of
the newly discovered Skarn structure, that is currently underway. The results
from this drill hole will be reported as soon as the results are available.
    Chemical analysis was done by ALS CHEMEX laboratories in Lima and strict
QA/QC protocols were followed.
    Alonso Sanchez, Chief Geologist, having graduated from the Universidad
National de Ingenieria is Dynacor Gold's "Qualified Person" and is responsible
for the technical information contained in this press release. Thus,
Mr. Sanchez can testify to the precision and exactitude of the data and the
mining and geological knowledge of the Tumipampa property, as required by
National Instrument 43-101 and its annexes with respect to the reporting and
content of this press release.

    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; Renmark Financial Communications: Julien Ouimet:
jouimet@renmarkfinancial.com; John Boidman: jboidman@renmarkfinancial.com;
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com

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