Mr. Dale Nejmeldeen reports

DYNACOR REPORTS SALES OF US$19.5 MILLION (C$26.7 MILLION) FOR MARCH 2023

Dynacor Group Inc. recorded unaudited gold sales of $19.5-million (U.S.) ($26.7-million) for March, 2023, compared with $18.7-million (U.S.) ($23.7-million) in March, 2022.

In March, the average selling price of gold was $1,918 (U.S.) per ounce, compared with $1,935 (U.S.) per ounce in March, 2022.

Three months year-to-date cumulative sales amount to $56.7-million (U.S.) ($76.7-million) in 2023 compared with $50.1-million (U.S.) ($63.5-million) in 2022, a 13.2-per-cent increase. From mid-January, 2023, due to political unrest mostly in southern Peru, the corporation had decided to postpone exports for safety measures. Those exports were completed in February (refer to Feb. 21, 2023, press release). This explains the monthly sales variances in Q1 2023.

During March, 2023, the Veta Dorada plant processed 13,775 tonnes of ore for a total of 41,565 tonnes during the quarter.

The corporation recently announced its sales guidance for 2023 in the range of $210-million (U.S.) to $235-million (U.S.) ($284-million to $318-million) on $1,800 (U.S.) to $1,900 (U.S.) per ounce average gold price.

About Dynacor Group Inc.

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.

Dynacor produces environmental and socially responsible gold through its PX Impact gold program. A growing number of supportive firms from the fine luxury jewellery, watchmakers and investment sectors pay a small premium to the company's customer and strategic partner for this PX Impact gold. The premium provides direct investment to develop health and education projects for the company's artisanal and small-scale miner's communities.

We seek Safe Harbor.