Mr. Dale Nejmeldeen reports

DYNACOR RECEIVES TSX APPROVAL TO RENEW NORMAL COURSE ISSUER BID

The Toronto Stock Exchange (TSX) has approved Dynacor Group Inc.'s request to renew a normal course issuer bid (NCIB) program, through which Dynacor may purchase, for cancellation, up to 3,490,716 common shares or approximately 10 per cent of the public float (34,907,163 common shares as of April 26, 2023).

Dynacor is in a financially strong position to continue to return a portion of its cash to its shareholders through the NCIB. Additionally, it is reviewing other value-added opportunities which could further contribute to enhancing shareholder value.

The corporation may purchase shares under the NCIB over a period of 12 months commencing on May 5, 2023, and ending May 4, 2024, when the bid expires. NCIB purchases are through the facilities of the TSX and certain alternative trading systems (such as Nasdaq CXC and CX2, TSX Alpha Exchange, and Omega ATS), and the price for any repurchased shares will be the prevailing market price at the time of the acquisition. The purchase of securities may also be made outside the facilities of the TSX by private agreements pursuant to exemption orders to be obtained from the appropriate securities regulator.

All common shares purchased by the corporation will be cancelled. The number of shares repurchased on any given day may not exceed 5,719 common shares, which is equal to 25 per cent of the average daily trading volume on the TSX for the six-month period ending March 31, 2023, except where purchases are made in accordance with the block purchase exception of the TSX rules. The average daily volume for this period was calculated in accordance with the rules of the TSX and is equal to 22,878 common shares.

The NCIB represents a proper utilization of Dynacor's available funds as part of the corporation's capital management strategy and is being established to enhance shareholder value.

The extent to which Dynacor repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations, as determined by Dynacor's management team. The corporation will use funds from its existing cash balances to purchase the shares.

Under the previously approved NCIB, which commenced on May 5, 2022, and terminates on May 4, 2023, Dynacor could repurchase up to 3,082,382 common shares. As of the date hereof, the number of common shares repurchased under the previous program through the facilities of the TSX and certain alternative trading systems is 562,660 with a weighted average price of $2.8864 per common share.

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 its artisanal and small-scale miners' communities.

We seek Safe Harbor.