Dynacor Gold Mines Inc. (dynacor)

Symbol: DNG

Toronto Stock Exchange (TSX)

MONTREAL, March 30 /CNW Telbec/ - Dynacor Gold Mines Inc. (TSX: DNG) is pleased to report its financial results for the year ended December 31, 2008. 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 the documents have been filed electronically on SEDAR at www.sedar.com.

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    2008 HIGHLIGHTS

    - Net earnings of $1.6M ($0.05 per share)
    - Gold sales of 36,816 ounces, an increase of 17,494 ounces compared to
      2007
    - Working capital of $4.9M
    - Cash flow generated from operating activities of $2.0M
    - Cash and cash equivalents and short term investments equal to $2.1M
    - $0.5M invested in the exploration of the Tumipampa property
    - Total assets of $23.9M
    - Gross margin before amortization of $142/ounce ($84 in 2007)

    During fiscal 2008 Dynacor increased its custom milling capacity. It
gradually increased from 90 tons per day to reach 180 tons per day in
December.

    Custom milling data

                                                              2008      2007
                                                             -----     -----
    Gold grade (ounces/ton)                                  0.877     0.887
    Yield (%)                                                 91.6      91.1
    Production (ounces)                                     36,816    19,322

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OUTLOOK FOR 2009

Management expects that gold production from custom milling at the Acari facility should exceed 40,000 ounces of gold for fiscal 2009 based on a capacity of 180 tons per day.

Exploration activities in 2009, will be focussed on the Tumipampa property. Geophysical surveying of the entire property will be carried out in order to define the target areas for an upcoming diamond drilling campaign. These exploration activities are expected to begin in Q2 or Q3 of 2009.

Dynacor will, during 2009, further explore the main mineralized vein on the Acari property. Excavation deeper into the sulfidic zone will allow the Company to evaluate the potential recovery yield for copper and gold from this anoxic zone. To date Dynacor has invested $6.8M in the exploration of the Acari property.

In the short term no significant work is being planned for the Casaden property.

Finally, Dynacor is actively looking into the feasability of hooking up its Acari plant to the national electrical power grid. This would allow the Company to increase its custom milling capacity to 240 tons per day or more as well as significantly decrease its energy costs.

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.