TSX-V: CGLD $0.28 OTCQX: CGLDF $0.22 Gold: $1,558/oz Copper: $2.77/lb


2011 News

Vancouver, B.C., October 7, 2011 - Dynasty Metals & Mining Inc. ("Dynasty" or the "Company") (TSX: DMM, OTCQX: DMMIF) announced today that Yale Simpson has retired from the Company's Board of Directors in order to focus on his commitments as Executive Chairman of Exeter Resource Corporation and Co-Chairman of Extorre Gold Mines Limited.

Robert Washer, the Company's President and Chief Executive Officer, commented: "On behalf of the Board of Directors, I wish to thank Mr. Simpson for his contributions to the Company over the last eight years. His leadership will be missed and we wish Mr. Simpson success with his primary business interests."

About Dynasty Metals & Mining

Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration and development of mineral properties in Ecuador.

The Company has the in production Zaruma Gold Project, the advanced-stage Jerusalem Project, and a highly prospective exploration project, the Dynasty Copper-Gold Belt, which includes the advanced-stage Dynasty Goldfield.

For further information please visit the Company's website at www.dynastymining.com, or please contact:



Dynasty Metals & Mining Inc.
Murray Oliver
Tel: (604) 687-0888
Email: info@dynastymining.com
Brisco Capital Partners Corp.
Gordon Aldcorn
Tel: (403) 262-9888
Email: Gordon@briscocapital.com


This news release contains certain forward-looking statements that reflect the current views and/or expectations of Dynasty with respect to its performance, business and future events, including statements regarding the outcome of the Company's application to the Ministry; the ability to negotiate an exploitation contract on terms satisfactory to the Company; the Company's plans in respect of its Zaruma Project; the Company's production forecasts at the Zaruma mine; and the Company's expectations relating to its processing plant developments. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including assumptions relating to the Company's ability to successfully negotiate a satisfactory exploitation contract; that all governmental approval and permits will be received; that the terms of the exploitation contract will allow the Company to develop its mining project in accordance with its business plan; that the Company will be able to increase production at its Zaruma mine; and that the Company will be able to complete its planned improvements to its processing plant. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties including that the Company will be unable to negotiate an exploitation contract on terms satisfactory to the Company and in the expected timeframe or at all; that the terms and conditions of the final exploitation contract will be restrictive on the Company's business; that the terms and conditions of the exploitation contract will impede the Company's development plans at its Zaruma Project; that the Company will not be able to increase production at its Zaruma mine; that the Company will not be able to complete improvements to its processing plant within the predicted timeframe or at all; and those relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; uncertain mining legislation; the need to comply with environmental and governmental regulations; political and economic instability and general civil unrest in Ecuador; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties listed in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. Dynasty does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.



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