MONTREAL, QUEBEC -- (Marketwire) -- 01/11/13 -- Dynacor Gold Mines Inc. (TSX: DNG) (Dynacor or the Company) is pleased to announce that the environmental impact assessment (EIA) for construction of a new gold ore-processing facility has been approved by the Peruvian authorities. The EIA is a major milestone and the final step in the process which leads to the construction permit. The Company expects to receive the construction permit within the next few weeks.
Dynacor's new state of the art ore-processing facility will have an initial capacity of 300 tonnes per day (TPD). Notably, it is designed to be readily upgraded to 600 TPD.
The construction of the new ore-processing plant is to be financed directly from the Company's auto-generated operational cash flow and debt. The final technical and budgetary plans are being drawn up at this time.
Orders for the new ore-processing equipment have been placed. Dynacor estimates the new plant will take six (6) months to build.
ABOUT DYNACOR GOLD MINES INC.
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.
FORWARD LOOKING INFORMATION
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: 35,970,167
Dynacor Gold Mines Inc.
President and CEO
514-288-3224 ext. 228
Dynacor Gold Mines Inc.
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