Dynacor Commences Skarn Drilling and Excavation of a

Dynacor Commences Skarn Drilling and Excavation of a Cross-Cut at
Tumipampa, Peru 
MONTREAL, QUEBEC -- (Marketwire) -- 12/12/12 -- Dynacor Gold Mines
Inc. (TSX:DNG) (Dynacor or the Company) is pleased to announce that
it has received final approval of its exploration permit from the
Peruvian mining authorities and that it will immediately begin its
diamond drilling campaign on its Tumipampa skarn copper and gold
project in southern Peru, and the excavation of the 300-meter
cross-cut of the Manto Dorado structure.  
Exploration Campaign - fast tracked   
Due to the unforeseen delays related to the approval of the
Environmental Impact Study and the Exploration permit, the Company
has decided to accelerate its drilling campaign and has deployed two
(2) drills simultaneously on site. Furthermore, during the summer
months, the Company upgraded all the drill site access roads on the
property and has built a new all/weather access road to the Tumipampa
property. The rainy season is expected during the first quarter
(Jan-March 2013) and it is not expected to impact or delay the
drilling campaign or the excavation of the cross-cut. 
The twelve-hole drill program totaling 5,600 meters on zone #4 of the
skarn has been designed to confirm the depth of mineralization and to
verify the high-grade gold and copper mineralization identified from
surface channel samples. Grades range from 0.01 to 13.4 g/t gold (Au)
and 0.004 to 2.91% copper (Cu) in zone #4. Furthermore, the high
magnetic anomaly and geophysical anomalies identified by the 2011
induced polarization (IP) and resistivity geophysical survey (see
September 19, 2011 news release) support the Company's prioritizing
of zone #4.  
The focus of the cross-cut campaign is to upgrade the historical
resources of the 500 meter x 380 meter section of the Manto Dorado
structure to N1 43-101 compliant resources. The Company will drive a
300-meter long cross-cut (adit) measuring 3.0 meters high by 2.5
meters wide into the mountainside through the Manto Dorado (which was
intersected in 2008 by two drill holes with high-grade gold
mineralization: 23.8 g/t Au over 1.2 meters and 12.8 g/t Au over 1.4
meters) and towards the Rosa vein (which in 2008 was intersected by a
drill hole: 6.3 g/t Au over 2.8 meters). Subsequently, a six-hole
underground drill program will first target the Manto Dorado
structure with four holes and followed by the Rosa vein with two
holes, for a total of 2,400 meters. 
The Tumipampa project is located in a fast-developing mining region
in southern Peru and is strategically surrounded by global leading
mining companies that are developing world class copper and gold
skarn/porphyry type deposits. Tumipampa borders a large copper/gold
resource consisting of 355 million tonnes at 0.62% Copper held by
Southern Copper Corp. Notably in the last few months, Southern Copper
Corporation increased the size of their Los Chancas claim by staking
land eastward to within 2 km of Tumipampa's border. During the spring
of 2012, Dynacor extended its own land holdings which in effect
adjoins the two companies' assets (see May 08, 2012 news release).
Currently all of the land around Tumipampa is claimed by major mining
companies such as Southern Copper Corporation, Buenaventura, Golden
Ideal Gold Mining (China), Super Strong Mining (China), and Bear
Creek Mining. 
This Press Release has been read and approved by Alonso Sanchez, P.
Eng. and Chief Geologist for Dynacor Gold Mines. He acts as the
qualified person ("QP") for the Company and is a geologist affiliated
to the American Institute of Professional Geologists (AIPG). 
Dynacor is a gold exploration and mining company active in Peru
through its subsidiaries since 1996. The Company differentiates
itself from pure exploration companies as it also generates income
and cash flow from its wholly owned ore processing plant in Peru. The
Company's assets include six exploration properties, including the
Tumipampa property, along with its recently upgraded 220 tpd ore
processing mill at Acari. Dynacor's mill produces gold from the
processing of ore purchased from local producers. 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.  
Certain statements in the foregoing may constitute forward-looking
statements, which involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or
achievements of Dynacor, or industry results, to be materially
different from any future result, performance or achievement
expressed or implied by such forward-looking statements. These
statements reflect management's current expectations regarding future
events and operating performance as of the date of this news release. 
Shares outstanding: 35,890,167
Jean Martineau
President and CEO
514-288-3224 ext. 228 
Dale Nejmeldeen
Investor Relations
Dynacor Gold Mines Inc.
604-492-0099 / M: 604-562-1348
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