Dynacor Mines Inc. (dynacor)
Toronto Stock Exchange
MONTREAL, April 17 /CNW Telbec/ - Dynacor (TSX: DYN) is pleased to
announce that it signed an agreement for the buyout of the remaining 20%
interest of its subsidiary Minera Dynacor del Peru, in compensation for the
issuance of a maximum of 2,200,000 shares from its share capital. As per an
agreement signed in August 1996, Dynacor already held the mining rights and
the ore processing plant of the Acari property through its subsidiary Minera
Dynacor del Peru S.A. held at 80% by the Company and 20% by Peruvian
shareholders. With this transaction, the Company acquires all of the
property's assets. This acquisition is subject to precondition approval of the
Toronto Stock Exchange.
The Acari 1 property, located 428 km south of Lima, is made up of one
mining claim covering a surface area of 800 hectares. Dynacor also holds an
option on four other claims that add up to a further 3,010 hectares. This
important property hosts several major veins including the "Principale" and
"Carnero" veins, which are visible over 800 metres vertically and are more
than 2 km long and have widths of up to 2-3 metres at certain points.
In 2006, the Acari mine generated an operating profit of $988,564 from
the 14,312 ounces of gold produced from the custom milling operations. At the
end of 2006, the mill capacity was enlarged from 60 to 100 t/day and will be
increased again in 2007 in order to process 130 t/day.
Dynacor plans to continue increasing the plant's production capacity to
reach, in 2008, 25,000 ounces of gold annually by custom milling operations.
Since the beginning of 2007, the average gold production from custom milling
was 1,713 ounces monthly.
For further information:
For further information: Marc Blais, President, Dynacor Mines Inc.,
(450) 667-3224; Jean Martineau, Chairman of the Board, Dynacor Mines Inc.,
(450) 667-3224; Renmark Financial Communications Inc.: Danielle Velez:
firstname.lastname@example.org; Christina Lalli: email@example.com;
Media - Vanessa Napoli: firstname.lastname@example.org, (514) 939-3989, Fax:
(514) 939-3717, www.renmarkfinancial.com