Mr. Dale Nejmeldeen reports

DYNACOR REPORTS SALES OF US$19.3 MILLION (C$26.1 MILLION) FOR SEPTEMBER 2023 AND A QUARTERLY RECORD GOLD PRODUCTION OF MORE THAN 34,000 AUEQ OUNCES GENERATING SALES OF US$63.4 MILLION IN Q3-2023

Dynacor Group Inc. had gold sales of $19.3-million (U.S.) for September, 2023, a record quarterly production of 34,103 AuEq ounces and quarterly sales of $63.4-million (U.S.) in Q3 2023.

For September, 2023, gold sales amounted to $19.3-million (U.S.) ($26.1-million) (unaudited), compared with $14.4-million (U.S.) ($19.2-million) in September, 2022, an increase of $4.9-million (U.S.) or 34 per cent over last year. This sales increase is due to increased sales volume (plus 18.1 per cent) and increased sales price (plus 16 per cent).

In September, the average selling price of gold was $1,891 (U.S.) per ounce, compared with $1,666 (U.S.) per ounce in September, 2022.

For 2023, the corporation 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. It is well on target to surpass its yearly sales forecasts.

The 2023 cumulative sales at the end of September amounted to $184.6-million (U.S.), compared with $150-million (U.S.) for the same period of 2022, a 23.1-per-cent increase. The average selling price of gold at the end of September, 2023, was $1,921 (U.S.) per ounce compared with $1,821 (U.S.) per oz in 2022. At the current rate, total 2023 sales should reach $245-million (U.S.).

During September, 2023, the Veta Dorada plant processed 14,503 tonnes (cumulative year-to-date of 126,832 tonnes).

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 communities.

We seek Safe Harbor.