San Jose de Gracia Recognized as Most Significant Gold Project in Sinaloa State, Mexico

IRVING, Texas, Sept. 8 /PRNewswire/ -- DynaResource, Inc. (Pink Sheets: DYNR) ("DynaResource" or the "Company") is pleased to announce that the San Jose de Gracia Project ("SJG") been recognized as the State of Sinaloa's "Most Significant Gold Project".  This recognition was presented to DynaResource de Mexico S.A. de C.V. ("DynaMexico"), on June 3, 2010, at the 3rd annual Junior Mining Company Seminar, by the State Government of Sinaloa through Mexico's Ministry of Economic Development. DynaResource currently owns 75 % of DynaMexico, and Goldgroup Mining Inc. ("GGA.TO") ("Goldgroup") currently owns 25 % of DynaMexico.  Goldgroup may earn an additional 25 % of DynaMexico (Total of 50 %), through the contribution to DynaMexico of an additional $ 5.5 M USD. by March 15, 2011.

K.D. Diepholz, President of DynaMexico and Chairman / CEO of DynaResource stated, "DynaMexico and DynaResource are pleased to see the SJG Project recognized as the most significant Gold Project in the State of Sinaloa.  DynaMexico was formed in March 2000 specifically to acquire and consolidate the SJG District; and this award confirms SJG is becoming known for its gold resource.  DynaMexico and DynaUSA wish to thank the State of Sinaloa and the Ministry of Economic Development for its support and recognition; and we would like to thank Goldgroup for its capital contributions to DynaMexico and its technical contributions to the development of SJG.  We look forward to continuing success in identifying additional gold resources at SJG through drilling programs scheduled to commence in the fall, and we look forward to the mining and production activities at SJG, projected by the Company to commence within the next 2 years."

The San Jose de Gracia district, currently covering 99,500 hectares, is 100 % owned by DynaMexico.  Historically, in excess of one million ounces of gold has been produced from the SJG District, originating from veins grading from 30.0 g/t Au to 60.0 g/t Au.  A 43-101 compliant technical report is expected to be commissioned by DynaMexico this fall, to update the gold resource reflected in the preliminary 43-101 retained by Goldgroup in August, 2009.  This preliminary 43-101 report was authored by Jim Cuttle, B.Sc., P.Geo., Whistler, BC. Canada, and included a resource estimate compiled by Gary Giroux, Giroux Consultants Ltd., Vancouver, BC. Canada ("the Goldgroup 43-101").  The Goldgroup 43-101 (including drill holes through 08-126) reported an inferred resource at SJG of 618,000 Oz. Gold, with a cutoff of 2 g/t., and an overall average grade of 5.59 g/t Au.; (Silver, Copper, and Zinc credits added an approx. 60,000 Oz. Au Equiv. to the Goldgroup 43-101).  The updated 43-101 to be commissioned by DynaMexico ("the DynaMexico 43-101") will reflect the additional drilling results of core drill holes through SJG 10-188, including the recent 2010 drilling at the Tres Amigos area of SJG.

In consideration of the historical 1 M. Oz. gold production from SJG, the results from the 2003-2006 pilot production operation, the gold resources being reported in the Goldgroup 43-101, and the resources anticipated to be reported in the DynaMexico 43-101; upon ramp up to full production the Company currently projects a potential 100,000 Oz. per year gold production from the SJG Project, from which the Company would be the beneficiary as a 50 % shareholder of DynaMexico.  The Company has planned and structured itself for this potential revenue position as a shareholder of DynaMexico, and will consider distributions of a percentage of its retained earnings as a dividend to Shareholders.  

About DynaResource

DynaResource is a US based resource investment and management company focused exclusively in Mexico, targeting growth in the defining and production of gold and silver resources.  The Company formed DynaMexico in March, 2000 specifically for the purpose of acquiring and consolidating the SJG District; and it completed the consolidation of the entire SJG District (approx. 15 sq. Km. at that time) in 2003.  During the period 2003 – 2006, DynaMexico conducted Pilot Production operations at the San Pablo area of SJG; reporting production results of:  18,250 Oz. Gold produced; 42,500 tons mined; average feed grade of approximately 20 g/t Gold; and, average production costs of < $ 175. / Oz.  In September 2006, the Company entered into the Earn In / Option Agreement with Goldgroup, which provided that Goldgroup contribute $ 18 M. USD in funding to DynaMexico for exploration / development expenditures at SJG, in exchange for 50 % of the outstanding shares of DynaMexico.  

For further information on DynaResource, please visit www.dynaresource.com or contact:

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This News release contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed "forward-looking". All statements in this news release, other than statements of historical fact, that address events or developments that DynaResource expects to occur, are "forward-looking information".  These statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of DynaResource.  These forward-looking statements reflect the Company's current internal projections, expectations or beliefs and are based on information currently available to DynaResource.  In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology.  Certain assumptions have been made regarding the Company's plans at the San Jose de Gracia property. Many of these assumptions are based on factors and events that are not within the control of DynaResource and there is no assurance they will prove to be correct.  Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and Mexico; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaResource currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaResource does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties.  In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the Annual Report for DynaResource available at www.sec.gov. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in the forward-looking information.  All of the forward-looking information contained in this news release is qualified by these cautionary statements.  Although DynaResource believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements.  Accordingly, readers are cautioned against placing undue reliance on forward-looking information.  DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.

SOURCE DynaResource, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED