Mr. Dale Nejmeldeen reports

WITH MONTHLY SALES OF US$20.9 MILLION (C$28.6 MILLION) FOR OCTOBER 2023, DYNACOR SURPASSES ITS 2022 TOTAL SALES

Dynacor Group Inc. has already surpassed its 2022 total sales and had recorded unaudited gold sales of $20.9-million (U.S.) ($28.6-million (Canadian)) for October, 2023, compared with $14.7-million (U.S.) ($20.1-million (Canadian)) in October, 2022, an increase of $6.2-million (U.S.), or 42.2 per cent over last year.

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

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 $1,938 (U.S.) per ounce, compared with $1,643 (U.S.) per ounce in October, 2022.

The 2023 cumulative sales at the end of October amounted to $205.5-million (U.S.), compared with $164.7-million (U.S.) for the same period of 2022, a 24.8-per-cent increase. The average selling price of gold at the end of October, 2023, was $1,923 (U.S.) per ounce compared with $1,803 (U.S.) per oz in 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. At the current rate, total 2023 sales should reach $245-million (U.S.), a 4.3-per-cent increase compared with the high-range yearly projection.

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 Dynacor'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.