An anonymous director reports

DYNACOR REPORTS MONTHLY SALES OF US$22.5 MILLION (C$29.7 MILLION) FOR JULY 2023

Dynacor Group Inc. has recorded unaudited gold sales of $22.5-million (U.S.) ($29.7-million (Canadian)) for July, 2023, compared with $14.3-million (U.S.) ($18.5-million (Canadian)) in July, 2022, an increase of $8.2-million (U.S.), or 57.3 per cent, over last year.

The sales increase versus July of last year is due to an increase in sales volume (40.6 per cent) and an increase in sales price (16.8 per cent). The Veta Dorada plant is running at its full 500-tonne-per-day capacity, which capacity had been increased from 430 tpd in November, 2022.

In July, the average selling price of gold was $1,945 (U.S.) per ounce, compared with $1,739 (U.S.) per ounce in July, 2022.

The 2023 cumulative sales at the end of July amounted to $143.7-million (U.S.), compared with $118.3-million (U.S.) for the same period of 2022, a 21.5-per-cent increase. The average selling price of gold at the end of July, 2023, was $1,927 (U.S.) per ounce, compared with $1,853 (U.S.) per ounce in 2022.

For 2023, the corporation has forecasted sales in the range of $210-million (U.S.) to $235-million (U.S.) based on an average gold price between $1,800 (U.S.) and $1,900 (U.S.) per ounce.

During July, 2023, the Veta Dorada plant processed a record 15,007 tonnes (cumulative year to date of 97,320 tonnes).

About Dynacor Group Inc.

Dynacor Group 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 environmentally responsible and socially responsible gold through its PX Impact gold program. A growing number of supportive firms from the fine luxury jewellery, watchmaker 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 artisanal and small-scale miner communities.

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