Dynacor Group Inc. (TSX-DNG) (Dynacor or the 'Corporation'), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced that it has already surpassed its 2022 total sales and had recorded unaudited gold sales of US$20.9 million (C$28.6 million) (1) for October 2023, compared to US$14.7 million (C$20.1 million) in October 2022, an increase of US$6.2 million or 42.2% over last year.

Sales increase versus October of last year is due to increased sales volume (+20.4%) and increased sales price (+21.8%).

During October 2023, the Veta Dorada plant processed a record of 15,005 tonnes (cumulative year to date of 141,837 tonnes).

In October, the average selling price of gold was US$ 1,938 per ounce, compared to US$1,643 per ounce in October 2022.

The 2023 cumulative sales at the end of October amounted to US$205.5 million, compared to US$164.7 million for the same period of 2022, a 24.8% increase. The average selling price of gold at the end of October 2023 was US$1,923 per oz compared to US$1,803 per oz in 2022.

For 2023, the Corporation forecasted sales in the range of US$210-$235 million based on an average gold price between US$1,800 and US$1,900 per ounce. At the current rate, total 2023 sales should reach US$ 245 million, a 4.3% increase compared to the high-range yearly projection.

Sales are converted using the monthly average exchange rate

ABOUT DYNACOR

Dynacor is a dividend-paying industrial gold ore processor headquartered in Montreal, Canada. The corporation is engaged in gold production through the processing of ore purchased from the ASM (artisanal and small-scale mining) industry. At present, Dynacor operates in Peru, where its management and processing teams have decades of experience working with ASM miners. It also owns a gold exploration property (Tumipampa) in the Apurimac department.

The corporation intends to expand its processing operations in other jurisdictions as well.

Contact:

Tel: 514.393.9000

Fax: 514.393.9002

Email: Montreal or Investors

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