Dynasty Gold Corp. (TSX-V: DYG) (FSE: D5G1) (OTC Oink: DGDCF) is pleased to report that it has received assay results from core holes drilled in its recently completed diamond drill campaign at its 100%-owned Thundercloud project, located 200 km southeast of the gold mining hub of Red Lake and 47 km southeast of Dryden City, in the Manitou-Stormy Lakes greenstone belt of Northwest Ontario.

“This drill program extended gold mineralization vertically at both the Pelham and South-Pelham zones, confirming that the existing gold deposit(s) at Pelham continue much deeper than previously established. DP26-07 is an exciting hole, as it intersected the highest-grade mineralization at the bottom of the hole, starting from 315.5 meters; the mineralizing structure remains wide open, creating an opportunity to significantly increase the overall volume and economic value of the project. These high-grade intercepts are expected to increase tonnage and expand the baseline parameters for the next NI 43-101 resource estimate update,” said Ivy Chong, Dynasty Gold’s Chief Executive Officer and President.

New mineralization was discovered by drill hole DP26-07, targeting deep extensions of the high-grade gold deposit in the Pelham Zone. This hole was designed to test down-plunge mineralization towards the eastern end; it has successfully extended the known footprint to 323 meters at depth at the Pelham Zone. Hole DP26-07 intersected high gold values near the bottom of the hole; five consecutive samples taken between 315.5 meters and 323 meters returned gold values up to 6.26 grams per ton (Table 1). The deposit remains open, both along strike and at depth (Figure 1). DP26-06 also tested down-dip mineralization within the zone; only partial results have been received. Assays from Holes 6, 8 to 14 will be released when available.

Figure 1: Pelham Deposit Looking West

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Table 1: Pelham Drill Intercepts Highlights

South-Pelham Gold Target Area

Six diamond holes were drilled within the area of high-value IP signatures to expand near-surface gold mineralization, south of the Pelham deposit (Figure 2 & 3). DP26-05 intersected gold mineralization six meters from surface. DP26-04 was designed to test for mineralization in two historical trenches that are separated by 100m in an east-west direction and intersected three bands of mineralization (see Table 2) beginning at depths of 8m, 80m, and 174m, respectively. Holes 1 to 3 generally contained geochemically anomalous gold values; there were no intersections of economic significance. The South-Pelham area hosts a 700m long trend of gold-in-soil geochemical anomalies and coincident magnetic and IP anomalies; additional drilling will be required to determine the geometry and potential of these zones, as near-surface mineralization is relatively widespread.

“Results from the South-Pelham Zone suggest that gold grades are higher as the system goes deeper.” Further deep drilling at both zones will determine the extent of mineralization to unlock its full potential, Ivy Chong added.

Figure 2: South-Pelham IP Plan Map

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Figure 3: Pelham-South Long Section

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Table 2: South-Pelham Drill Intercepts Highlights

Core recovery is close to 100% and true width is unknown.

Quality Assurance & Quality Control

The core was logged, sample intervals were selected, and sawn at the logging site under the supervision of the Company’s consulting geologist. Samples were securely transported and personally delivered to Actlab in Dryden, Ontario, for Au-AA23 gold fire assays. OREAS standards, blanks, and duplicates were inserted into the sample stream to monitor the quality of the assay results. All gold values higher than 5 g/t were re-assayed by using Au-GRA21 gravimetric fire assays.

The technical information in this news release has been reviewed and approved by Peter Holbek, MSc, P.Geo, an independent consultant to the Company and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Dynasty Gold Corp.

Dynasty Gold Corp. is a Canadian mineral exploration company currently focused on gold exploration in North America, with projects located in the Manitou-Stormy Lakes greenstone belt in Ontario and in the Midas gold camp in Nevada. The Company is currently advancing its Thundercloud gold resource in northwest Ontario. A NI 43-101 Independent Technical Report, dated September 27, 2021, can be found on the Company’s and SEDAR websites. The 100% owned Golden Repeat gold-silver project in the Midas gold camp in Elko County, Nevada, is surrounded by a number of large-scale previously operating mines. For more information, please visit the Company’s website www.dynastygoldcorp.com.

ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP.