IRVINE, CA, Aug 10, 2023 – (ACN Newswire) – DYNR-DynaResource, Inc. (OTCQB:DYNR) ("DynaUSA", and "the Company") is pleased to announce the following update regarding the Company and DynaResource de Mexico SA de CV ("DynaMexico"), the wholly owned subsidiary of DynaUSA and the 100% Owner of Concessions comprising the prolific San Jose de Gracia high-grade gold project in Sinaloa, Mexico ("SJG"). All of these developments are in fulfillment of the MOU between the Company and Ocean Partners UK Limited ("Ocean Partners"), which was previously disclosed to the Company's shareholders.

– The Company has entered into a Stock Purchase Agreement with Ocean Partners (the "SPA"), under which the Company issued 1M shares of Common Stock to Ocean Partners in exchange for $5M USD.

– Under the SPA, Ocean Partners will name one director to serve on the Board of Directors of DynaUSA.

– Ocean Partners, through its 100% owned subsidiary in Mexico – MK Metals Trading ("MK"), and DynaMexico have formalized the extension of their commercial offtake agreement through December 31, 2026, and with revision of terms as per below:
— OP / MK agreed to Increase the Advance Credit Line available to DynaMexico to $17.5M USD.
— OP / MK agreed to provide an Option to convert the Advance Credit Line into a Revolving Credit Line, repayable in 12 months, in maximum amount of $10M USD.

The Company and DynaMexico plan to utilize the funds received from Ocean Partners to further expand and increase test mining and milling activities at SJG, to continue exploration drilling and related exploration activities at SJG, and for general corporate purposes.

In commenting on the transactions formalized with Ocean Partners and MK, DynaUSA Chairman-CEO and DynaMexico President Mr. K.D. Diepholz noted: "We greatly appreciate the attention and support we have received from Ocean Partners since February 2021, and we have enjoyed our professional working relationship with Brent Omland, Al Paterson, and Roberto Guerra. We expect Ocean Partners to make significant and strategic contributions to the further advance and development of the prolific SJG Project. And, with this extension of commercial offtake agreement formalized, DynaUSA and DynaMexico will continue our excellent partnership with Ocean Partners for many years."

On behalf of Ocean Partners, Mr. Brent Omland, co-CEO of Ocean Partners commented: "We are very pleased to expand our strong relationship with Dyna and the excellent team in the US and Mexico and to join the shareholder register. We are excited to be a part of the continuing development and expansion of the world class SJG Project and provide K.D. and his team additional support and resources."

On behalf of the Board of Directors of DynaResource, Inc.
K.D. DIEPHOLZ
DynaResource, Inc., Chairman and CEO.
DynaResource de Mexico, S.A. de C.V., Presidente.

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS

The Company is an "OTC Reporting Issuer" as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions. Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC") applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC and not subject to Canadian securities legislation. This news release or other disclosure provided by the Company may use the terms "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, "inferred mineral resources" have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, although they may form, in certain circumstances, the basis of a "preliminary economic assessment" as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This News release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed "forward-looking statements." All statements in this news release, other than statements of historical fact, which address events or developments that DynaResource expects to occur, are "forward-looking statements." These statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of DynaResource. These forward-looking statements reflect the Company's current internal projections, expectations or beliefs and are based on information currently available to DynaResource. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the Company's plans at the San Jose de Gracia property. Many of these assumptions are based on factors and events that are not within the control of DynaResource and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and Mexico; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaResource currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaResource does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the Annual Report for DynaResource available at www.sec.gov. Forward-looking statements are not a guarantee of future performance, and actual results and future events could differ materially from those discussed in the forward-looking statements. All forward-looking statements contained in this news release are qualified by these cautionary statements. Although DynaResource believes that the forward-looking statements contained in this news release are based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking statements. DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

For further information on DynaUSA and DynaMexico, visit www.dynaresource.com.

Contact Information
Brad J. Saulter
DynaUSA V.P. – Investor Relations
972-868-9066

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

TORONTO, CANADA, Aug 7, 2023 – (ACN Newswire) – Mongolia-based Steppe Gold (TSX: STGO) has just announced a US$150-million funding deal to fully finance the Phase 2 expansion of its flagship project ATO gold mine in Mongolia. With expected annual production of 100,000 oz. gold equivalent by 2025 for 12 years, the company says it's ready to unlock the full potential of its ATO mine and rapidly expand its presence in Mongolia.

Steppe Gold is the only TSX-listed precious metals producer in Mongolia after Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) acquired Turquoise Hill Resources for US$3.3 billion to simplify its ownership in the world-class Oyu Tolgoi mine. Rio now holds 66%, and the remaining 34% is owned by the government of Mongolia.

However, interest in the region is strong. The recent Mongolia Economic Forum, organized by the government of Mongolia and held during the Mongolian "Naadam" holiday, attracted over 45 international investment banks, more than 500 investors, and a total of 2,000 delegates.

In an address to the audience, Rio Tinto chairman Dominic Barton said the mining giant is committed to building its footprint in Mongolia and expressed his optimism about Mongolia's future. The company has invested US$15.4 billion in Oyu Tolgoi since 2010, as the project looks set to become the world's fourth-largest copper mine by 2030.

Mongolia is a resource-rich developing country, with more than 80 types of mineral deposits identified across 1,170 registered deposits. The International Monetary Fund identifies Mongolia as one of the most promising of the 29 resource-rich developing countries due to its richness in natural resources. And yet, only 2.6% of its territory is covered by exploration licenses and 1.2% by mining licenses.

Leveraging its border with China, which accounts for over 90% of its mining commodity exports, Mongolia is focusing on improving border points to boost mineral exports under the New Recovery Policy led by the 43-year-old Prime Minister, Oyun-Erdene L., and his cabinet. Foreign direct investment (FDI) has played a significant role in the development of Mongolia's mining sector, with 75% of current FDI focused on this sector.

As a frontier market with associated investment risks, Mongolia's authorities have introduced investor-friendly changes over the past decade, making the country a more favourable destination for foreign investment.

Steppe Gold's origins

Steppe Gold was founded in 2016 by Bataa Tumur-Ochir, a young Mongolian entrepreneur, and Matthew Wood, a seasoned mineral explorer and developer with over 30 years of industry experience.

Bataa, the company's CEO and chairman, and Wood, a director, have worked together to invest in Mongolia's mining industry over a decade, maintaining a strong belief in the country for a long period.

Back in 2012, Bataa became one of the youngest CEOs of an ASX-listed company at the age of 26, with Matthew Wood acting as chairman. They have established and developed several mining projects in Mongolia.

Steppe Gold was listed on the TSX in 2018 and, since then, has raised about $90 million from international and Mongolian investors and management. Throughout this time, the company developed the ATO mine from greenfield project to production stage with over 90,000 oz. of gold produced to date. The second phase of operations is expected to produce over 1.2 million oz. gold equivalent over 12 years and generate a total of US$2 billion in revenue.

Its most recent financing, a US$150-million debt financing deal with top Mongolian financial institutions, which closed in July, will help Steppe meet its next ambitious growth targets. The principal payments will be paid after Phase 2 expansion is in production.

"It has been challenging yet rewarding five years, but with Phase 1 in production and Phase 2 expansion financing secured, we have de-risked the project, and now we are finally well positioned for growth" Bataa said.

Despite being a junior producer, Steppe Gold already has an impressive list of industry-leading investors, including Eric Sprott, Elliot Management, Fidelity and LIM advisors. The management team themselves are significant shareholders in the company, with Bataa now the largest shareholder. The chairman and CEO says he's proud to have participated in every capital raise since the company's establishment.

Steppe Gold today is one of the largest employers in the region and is proud to have a strong local presence and support in Mongolia. A strong believer in community engagement, Steppe has provided financial aid to over 1,600 local students over the five years.

New Chapter of Transformational Growth

In June, Steppe Gold closed the acquisition of Canadian miner Anacortes Mining Corp. and its Tres Cruces gold project in Peru. The all-share acquisition adds another 2.5 million oz. gold in indicated resources to the company's development portfolio as the mine ranks among the highest-grade oxide development deposits globally. Tres Cruces is just 10 km from the world-class Lagunas Norte mine.

The acquisition will expand the company's reach to an international scale and increase its production potential, Bataa says.

While Steppe Gold isn't planning any further expansion into South America in the near future, it does plan to invest in Mongolia.

Untapping Mongolia's mineral potential, in addition to expanding exploration at the ATO land package, where operations currently only occupy 300 hectares of 5,500 hectares, Steppe Gold is also assessing adding to its landholdings. It's currently assessing about 200,000 hectares of prospective areas in the country.

"Our company has always had a strong focus on Mongolia, and it will remain unchanged as we seek out the many opportunities in the country," Bataa emphasized. The company has over 350 employees, 99.9% are Mongolian.

To bolster its focus on mining in Asia, Steppe Gold is planning to pursue a dual primary listing of its common shares on the main board of the Hong Kong Stock Exchange. Around 40% of the company's shareholders are located in Asian time zones.

Upon listing, the company would be one of only a few firms in the mining and precious metals industry on the exchange – something the company believes will be a major competitive advantage as they appeal to a new group of investors looking for opportunities in the sector.

With Steppe's international management team and skilled local employees, Bataa says the company is enthusiastic about the future. "We are excited about our transformational growth," Bataa highlighted.

BY: NORTHERN MINER STAFF JULY 26, 2023
SOURCE: THE NORTHERN MINER (WWW.NORTHERNMINER.COM)


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Ulaanbaatar, Mongolia, Jul 12, 2023 – (ACN Newswire) – Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is very pleased to announce it has signed a binding term sheet (the "Term Sheet") to provide up to US$150 million in financing to fully fund the construction and completion of the Phase 2 Expansion at the ATO Gold Mine (the "Phase 2 Expansion").

ATO Phase 2 Expansion Highlights:
— US$150 million fully funded to finance the Phase 2 Expansion of the ATO Gold Mine.
— Initial funding of US$50 million loan approved to order equipment and long lead items.
— The financing payback period starts upon completion of Phase 2 Expansion.
— First concentrate production and sales from Phase 2 is anticipated in 2025.
— Construction has commenced with the crushing circuit at 90% completion.
— The EPC selection process is well advanced, with final negotiations on timelines.
— Fresh rock mine expansion life is 12 years, extending open pit mining and milling operations to December 2036.
— The open pit model demonstrates the fresh rock phase generating 1,237,000oz Au Eq recovered over 12 years, at an average Au Eq oz of 103,000oz per annum.
— Total gross revenue over the next 14 years is anticipated to be US$2.2 billion, including the current oxide phase.
— Approximately 300 new jobs will be created during the construction and operation phases.
— Project is fully supported by local communities and all stakeholders.
— The Government of Mongolia fully supports mining and industrial export revenues into the country.

This significant milestone is the culmination of two years of collaborative efforts with our key stakeholders in Mongolia as we successfully move forward with the Phase 2 expansion. Since our listing in 2018, the Company has been dedicated to establishing a strong social license for our sustainable mining project, aiming to create lasting value for the people of Dornod and Mongolia. The secured financing will spur employment and investment during the upcoming construction phase and sustain these benefits until at least 2036.

Recognizing the untapped economic potential within the expansive +5,500-hectare license area, the Company remains committed to an active exploration program to fully leverage its value.

The terms of the financing comprise three tranches of US$50 million each for a total of US$150 million, to be funded in line with the planned construction phase of the Phase 2 Expansion.

Financing Details
1. US$50 million term loan from the Trade and Development Bank of Mongolia ("TDB"). The Bank Loan will have a term of four years at an interest rate of 13.4% with flexible prepayment conditions.

2. Senior Secured Credit Facility for US$50 million comprised of a senior secured non-revolving amortizing loan (the "EPC Loan Facility").
— Term of 60 months
— Repayments commencing 35 months from the Closing Date
— Funded in tranches commencing in January 2024
— Interest rate of 12% per annum

3. Senior Secured Gold Linked loan for US$50 million (the "Gold Linked Loan")
— Subject to market conditions and equity markets, the Company has negotiated a Gold Linked Loan with fixed repayment terms.
— Repayments commencing from approximately January 1, 2026, which assumes first concentrate production in mid-2025.
— Gold-linked loan repayment over five years based on concentrate production with a final payment of US$40 million.
— Warrants with a $1.50 strike price to be issued on drawdown under the Gold Linked Credit Agreement, subject to approval of the Toronto Stock Exchange (the "TSX").

Conditions and Next Steps
— The parties will move to definitive loan documentation, with funding in tranches over the next 9 – 12 months. The TDB Bank Loan will likely be funded starting in July.
— The lenders' obligations to advance any loan proceeds shall be subject to the satisfaction of customary advance and release conditions for a project financing of this nature.
— Financial covenants will be customary for a financing of this nature.
— Steppe Gold is in discussions with Triple Flag Mine Finance, and Triple Flag has expressed their support in principle for the Phase 2 financing, and welcomes partnering with TDB on the Phase 2 Expansion.

Steppe Gold Chairman and CEO, Mr. Bataa Tumur-Ochir commented, "This is a significant milestone for Steppe Gold and secures the future of the ATO Gold mine for the next 14 years. It has been a challenging yet rewarding 5 years since we listed on the TSX, and the Company has been working towards unlocking the full potential of the ATO Gold Mine through the Phase 2 expansion. Most importantly, it allows the Company to move forward with all our stakeholders in Mongolia with a long-term and sustainable project in the region, with secure employment opportunities and positive economic outcomes."

Steppe Gold Chairman and CEO, Mr. Bataa Tumur-Ochir expressed immense pride in this collaboration with TDB, its long-time banking partner and extended his gratitude to the entire TDB Group for their partnership and unwavering support in realizing their vision of developing Mongolia's mining industry and boosting export revenues for the country.

The secured funding package will enable Steppe Gold to expedite the Phase 2 Expansion with confidence, ensuring that their objective of initiating concentrate sales in 2025 is met. During the construction phase of the expansion, the Company will maintain its production of gold and silver from the current oxide phase for a period of three years.

Jeremy South, Steppe Gold Senior Vice President and Chief Financial Officer noted, "We are very pleased to have reached agreement on a competitive lending package in a very difficult market for mine development financing. It underscores the strong fundamentals of the ATO Gold Mine and it represents a strong vote of confidence in Mongolia and in the Steppe Gold team. Importantly, it builds in flexibility in debt service and aligns the repayment schedule with the project cash flows, as well as limiting dilution in tough equity markets."

Goh Way Chuan, Director of TDB Capital commented, "We are delighted to announce the extension of our long-standing partnership with Steppe Gold. The team at Steppe Gold has delivered on its promises and we are excited to partner with them on the Phase 2 Expansion with a flexible capital solution that matches risk and reward."

Shaun Usmar, CEO of Triple Flag Mine Finance also commented, "As a founder investor in Steppe Gold and one of our initial stream partners, we congratulate Steppe Gold on this landmark financing for the Phase 2 Expansion at the ATO Gold Mine. We are excited to partner with TDB and Steppe Gold as they embark on this significant project."

About Trade and Development Bank of Mongolia:
Trade and Development Bank of Mongolia is Mongolia's oldest and leading corporate bank. The Bank acts as a primary lender to most of the Mongolian leading corporations, foreign corporations, and foreign representative offices across all major industrial and commercial sectors.

About TDB Capital
TDB Capital is an investment management company with well-diversified assets in various sectors and roots in the financial industry.

Steppe Gold Ltd.
Steppe Gold is Mongolia's premier precious metals company.

For further information, please contact:
Bataa Tumur-Ochir, Chairman and CEO
Shangri-La office, Suite 1201, Olympic Street19A, Sukhbaatar District 1,Ulaanbaatar 14241,
Mongolia Tel: +976 7732 1914

Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that the Company anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "allow", "anticipated", "assumed", "believe", "continue", "estimates", "expected", "planned", "potential", "target", "will" and similar expressions. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: terms of the debt financing, use of proceeds of the debt financing, capital expenditures of the Company, the impact of production on investment, job creation and value creation, the timing, goals, targets and revenue related to the Phase 2 Expansion and terms of the EPC Contract and future plans of the Company.

The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: that the Company will continue to conduct its operations in a manner consistent with past operations; the general continuance of current or, where applicable, assumed industry conditions; obtaining applicable TSX approval; and estimates related to the commencement and production of gold.

The Company believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: changes in business plans and strategies, market and capital finance conditions, general economic, market and business conditions; reliance on industry partners; and certain other risks detailed from time to time in the Company's public disclosure documents including, without limitation, those risks identified in this news release, and in the Company's annual information form for the year ended December 31, 2022, copies of which are available on the Company's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.

The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

IRVING, TEXAS, Jul 7, 2023 – (ACN Newswire) – DynaResource, Inc. (OTCQB:DYNR) ("DynaUSA", and "the Company") is pleased to report the following Update regarding the Company and DynaResource de Mexico SA de CV. ("DynaMexico"), the wholly owned subsidiary of DynaUSA and the 100% Owner of Concessions comprising the San Jose de Gracia high grade gold project in Sinaloa, Mexico ("SJG").

Ocean Partners Holdings Ltd. ("Ocean Partners", "OP") and DynaMexico have agreed:
– To extend the current commercial Offtake Agreement through December 2026;
– OP to Increase the Advance Credit Line available to DynaMexico to $17.5M USD;
– OP to provide an Option to convert the Advance Credit Line into a Revolving Credit Line, repayable in 12 months, in maximum amount of $10M USD;

Ocean Partners and DynaUSA have agreed:
– Ocean Partners will purchase 1M Shares of DynaUSA at $5 / Share;
– 1 Designee of Ocean Partners will be named to the Board of Directors of DynaUSA

In commenting on the transactions with Ocean Partners; DynaUSA Chairman-CEO, and DynaMexico President Mr. K.D. Diepholz noted: "We greatly appreciate the attention and support we have received from Ocean Partners since February 2021, and in particular; Brent Omland, Al Paterson, and Roberto Guerra. Now, with this extension of commercial offtake agreement formalized, DynaUSA and DynaMexico will continue our excellent partnership with Ocean Partners for many years."

On behalf of the Board of Directors of DynaResource, Inc.;
On behalf of the Board of Directors of DynaResource de Mexico S.A. de C.V.;

K.D. DIEPHOLZ
DynaResource, Inc.; Chairman and CEO
DynaResource de Mexico, S.A. de C.V.; Presidente

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS

The Company is an "OTC Reporting Issuer" as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions.

Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC") applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC and not subject to Canadian securities legislation. This news release or other disclosure provided by the Company may use the terms "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, "inferred mineral resources" have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, although they may form, in certain circumstances, the basis of a "preliminary economic assessment" as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This News release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed "forward-looking statements." All statements in this news release, other than statements of historical fact, which address events or developments that DynaResource expects to occur, are "forward-looking statements." These statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of DynaResource. These forward-looking statements reflect the Company's current internal projections, expectations or beliefs and are based on information currently available to DynaResource. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the Company's plans at the San Jose de Gracia property. Many of these assumptions are based on factors and events that are not within the control of DynaResource and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and Mexico; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaResource currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaResource does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the Annual Report for DynaResource available at www.sec.gov. Forward-looking statements are not a guarantee of future performance, and actual results and future events could differ materially from those discussed in the forward-looking statements. All forward-looking statements contained in this news release are qualified by these cautionary statements. Although DynaResource believes that the forward-looking statements contained in this news release are based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking statements. DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

For further information on DynaUSA and DynaMexico, please visit www.dynaresource.com or contact:

Brad J. Saulter, DynaUSA V.P. – Investor Relations; US Telephone: 972-868-9066
K.D. Diepholz, DynaUSA – Chairman / CEO DynaResource de Mexico, S.A. de C.V. – Presidente

Contact Information
Brad J. Saulter
DynaUSA V.P. – Investor Relations
972-868-9066

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

TORONTO, ON, Jul 6, 2023 – (ACN Newswire) – Mink Ventures Corporation (TSXV: MINK) ("MINK" or the "Company") announces that it has issued 250,000 common shares of the Company (the "Common Shares") and 250,000 warrants to purchase Mink common shares (the "Warrants") to commence its previously announced option of the Warren Copper-Nickel Project (the "Warren Project"). The Warren Project consists of 14 patented mining claims covering 251 hectares of land, located in Whitesides Township, approximately 35 km west of Timmins, Ontario (see Figure 1).

To commence the option, MINK issued to US Copper Corp. 250,000 MINK common shares and 250,000 MINK three-year common share purchase warrants exercisable at a price of $0.25. To maintain and ultimately exercise the option MINK must incur $300,000 in exploration expenditures and issue an additional 750,000 MINK common shares within 21 months.

HIGHLIGHTS (see Figure 3):

– The Warren Project is drill ready. Mink's geologists have completed an in-depth study of all available historical data and recent geophysical survey data. Some limited ground truthing to update GIS data prior to selecting drill targets will occur with a diamond drill program to follow.
– The Warren Project complements Mink's key Montcalm project due to the distinctly similar, prospective geological environments as well as the presence of significant Cu Ni zones at Warren.
– Three distinct mineralized copper nickel zones have been identified and are designated Zones A, B, and C, outlined by both surface exploration and diamond drilling, focused mainly on Zones A and B over a strike length of ~600 meters.
– Historical work in the mid 1950's included two B-Zone bulk samples by Maralgo Mines Ltd. Bulk Sample 1 returned 0.21% Cu, 0.96% Ni, 0.11% Co and 0.10% Zn, and Bulk Sample 2 returned 2.83% Cu, 0.58% Ni, 0.10 Co and 0.13 Zn.
– A resource* calculation of 385,000 tons of 1% Cu + Ni on the B Zone was outlined by Jade Oil & Gas. They drilled 23 holes to test Zones A and B in the mid 1950's. Highlights include 2.5% Cu+Ni over 7.6 m and 2.8% Cu+Ni over 8.2 meters. *The resource calculation is historical in nature and is not NI43-101 compliant; it is not to be relied upon and is reported as a historical statement only.
– Geophysical data from magnetics, horizontal loop EM (HLEM) and induced polarization (IP) suggest a potential strike length of A and B Zones of approximately 800 meters.
– Limited exploration has been conducted on the C Zone other than a historical shaft. A recent (2021) grab sample in the shaft area muck pile by W. Hawkins, P. Eng returned 3.7 ppm Ag, 3940 ppm Cu, 1670 ppm Ni and 223 ppm Co. Geophysical surveys (magnetic, HLEM, and IP) support a potential strike length of C Zone of 1 kilometer.

References: Technical Report for Western Troy Capital Resources on the Warren Property (W. Hawkins P. Eng, 2021) and Maxmin, Magnetometer and VLF Surveys Evaluation Report, Whitesides and Massey Twp. Claims (C. Mackenzie Consulting Geologist, 1990)

"This strategic acquisition expands our exploration portfolio and discovery opportunity with a very complementary, second gabbro-hosted copper nickel sulphide project which shares a similar geological environment with our flagship Montcalm project. Both projects benefit from very cost-effective exploration due to their exceptional access, year-round exploration seasons, and proximity to the Timmins Mining Camp and all the advantages that come along with that," said Natasha Dixon, President and CEO. "We are eager to begin our summer exploration program with a diamond drill program at Warren, and then our team will move up the road to Montcalm," she added.

The Warren property is hosted within the Kamiskotia Gabbro Complex (KGC) and it is thought to be broadly equivalent to the Montcalm Gabbro Complex (MGC) but separated by a granitic arch. The MGC hosts the former Montcalm Mine which produced approximately 3.93 million tonnes grading 1.25% Ni, 0.67% Cu and 0.05% Co (OGS, Atkinson, B., 2010) (See Figure 2).

Gabbro complexes such as MGC and KGC are known to be prospective for magmatic nickel copper sulphide deposition as demonstrated by the Montcalm Mine located within the MGC. The Warren Project complements Mink's Montcalm property due to the distinctly similar prospective geological environments found in the MGC and the KGC, as well as the presence of significant Cu Ni zones on the Warren Project.

As highlighted above, the Warren Project has had a sporadic exploration history since the late 1920's to present day and a number of promising historical mineralized Cu Ni zones were outlined. The majority of the exploration completed to date on the property was completed in an area representing a very minimal portion of the property and completed well over 60 years ago. More recent geophysical surveys from the early 1990's and 2008-2009 outlined a series of untested targets along strike from known mineralization and/or new targets proximal to known mineralization. These targets are particularly evident in the accompanying magnetic and IP compilation map shown in Figure 3. As a result of this geophysical data being available, the Warren Project is drill ready with some minimal ground truthing of grids and occurrences.

Qualified Person:

Mr. Kevin Filo, P.Geo. (Ontario), is a qualified person within the meaning of National Instrument 43-101. Mr. Filo approved the technical data disclosed in this release. Note: Certain historical information pertaining to a historical resource estimate, is disclosed in this press release. The methods and parameters used to prepare this estimate and the category of the estimate is unknown. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the issuer is not treating the historical estimate as current mineral resources or reserves.

About Mink Ventures Corporation:

Mink Ventures Corporation (TSXV: MINK) is a Canadian mineral exploration company exploring for battery metals in Ontario, Canada. It has a prospective, nickel copper cobalt exploration portfolio, with its Montcalm project, which covers approximately 40 km2 adjacent to Glencore's former Montcalm Mine with historical production of 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co (Ontario Geological Survey, Atkinson, 2010), as well as the recent addition of the Warren Project, comprised of 14 patented mining claims covering 251 hectares. These complementary Ni Cu projects have excellent access and infrastructure and are in close proximity to the Timmins Mining Camp. After giving effect to the share issuance to commence the Option to acquire the Warren Project, the Company has 15,222,319 shares outstanding.

For further information about Mink Ventures Corporation please contact: Natasha Dixon, President & CEO, T: 250-882-5620 E: ndixon@minkventures.com or Kevin Filo, Director, T: 705-266-6818 or visit www.sedar.com.

Forward-Looking Statements

This press release includes certain "forward-looking information", including, but not limited to, statements with respect to the option to acquire the Warren Project, the share issuances and exploration work required to exercise the option, TSX Venture Exchange approval of the option agreement, and the prospectivity of the Warren Project and the Montcalm Project. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MINK to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of exploration work; inability to raise the money necessary to incur the expenditures required to retain and advance the Warren Project and Montcalm Project; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, or delays in obtaining governmental and stock exchange approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to MINK's filings with Canadian securities regulators available on SEDAR. These forward-looking statements are made as of the date hereof and MINK disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or ac curacy of this release.

Figure 1: Detailed Location Map
https://images.newsfilecorp.com/files/8332/172451_53f42f083473689a_001full.jpg

Figure 2: Regional Geology Map
https://images.newsfilecorp.com/files/8332/172451_53f42f083473689a_002full.jpg

Figure 3: Warren Project Compilation Map (Magnetics and IP)
https://images.newsfilecorp.com/files/8332/172451_53f42f083473689a_003full.jpg

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