Dynasty Metals & Mining Inc., Vancouver, B.C. TSX.V : DMM, Dynasty Metals and Mining is a Canadian company focused on gold production and resource development in southern Ecuador.

Dynasty owns 100% of three advanced stage gold projects;

1. Zaruma
2. Jerusalem
3. Dynasty Goldfields.

• 6 million oz gold, measured, indicated & inferred
• 27 million oz silver , measured, indicated & inferred

Highlights

Dynasty Pours First Gold

VANCOUVER, BRITISH COLUMBIA, Sep. 28, 2009 (Marketwire) --

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/28/09 --

The management of Dynasty Metals & Mining Inc. (TSX: DMM) ("Dynasty" or the "Company") is very pleased to announce the Company has poured its first gold at its recently commissioned gold processing plant at Zaruma in Ecuador.

In total, the dory bars poured by the Company contained approximately ten kilograms (320 ounces) of gold and 50 kilograms (1,600 ounces) of silver.

Robert Washer, the Company's President and Chief Executive Officer commented: "This is a significant moment in the Company's history and for the development of a modern mining industry in Ecuador.

We would like to thank the government of Ecuador for its ongoing support for the development of the Zaruma Gold Project, which is the first large scale modern mining operation in Ecuador's history."

The Company has now successfully commissioned all sections of the plant. The Company will continue to optimize plant operations by processing material mined during the ongoing development of the declines.

• Built-in plant capacity for early expansion at Zaruma
• Application has been made to commence mining operations at the Jerusalem Gold project
• 43-101 compliant gold and silver resources
• World class gold, silver and copper exploration potential
• Experienced management
• $25 million in cash
• Low market capitalization versus gold resource and stage of development
• Fully qualified and experienced plant design and construction engineers, metallurgists, geologists, and underground management team with proven track record across the globe

Mining Law

January 28, 2009 the new Ecuadorian Mining Law was published in the Ecuadorian government's official registry and has now taken effect.

Key provisions:

• No limits imposed on the number of concessions that can be held by a concessionaire;
• Concessions are limited to a term of 25 years but are renewable;
• A royalty of not less than 5% on sales;
• Establishes clear timelines for project exploration and development

PROPERTY OVERVIEW

Dynasty Metals & Mining owns 100% of three mining exploration areas located in Ecuador, and is currently focused on the exploration and development of three gold projects.

The Company has two advanced stage gold projects nearing production, the Jerusalem and Zaruma projects, and one new large-scale discovery at the Dynasty project.

The Company is advancing the Jerusalem and Zaruma gold projects towards production and has completed extensive exploration to outline the projects' potential. Jerusalem and Zaruma have a massive combined resource of 3.8 million ounces of gold grading 11-12 g/t*. Dynasty's goal is to bring them into production as quickly as possible.

The Dynasty Gold Project is the company's latest discovery and management believes it has significant potential to host a large bulk-mineable gold resource. A recent technical report estimates initial measured and indicated resources of over 420,000 ounces of gold, and an additional 427,000 ounces of inferred gold resource.