Mr. Dale Nejmeldeen reports

DYNACOR GROUP REPORTS SALES OF US$24.4 MILLION (C$33.4 MILLION) FOR NOVEMBER 2023, ON ITS WAY TO HISTORICAL ANNUAL SALES OF US$250 MILLION

Dynacor Group Inc. has recorded unaudited gold sales of $24.4-million (U.S.) ($33.4-million) for November, 2023, compared with $15.0-million (U.S.) ($20.2-million) in November, 2022, an increase of $9.4-million (U.S.) or 62.7 per cent over last year, and is on its way to annual sales of $250-million (U.S.).

The sales increase versus November of last year is due to increased sales volume (plus-44.0 per cent) and increased sales price (plus-18.7 per cent).

During November, 2023, the Veta Dorada plant continued working at full pace processing 14,502 tonnes (cumulative year to date of 156,340 tonnes).

In November, the average selling price of gold was $1,983 (U.S.) per ounce, compared with $1,752 (U.S.) per ounce in November, 2022.

The 2023 cumulative sales at the end of November amounted to $229.9-million (U.S.), compared with $179.7-million (U.S.) for the same period of 2022, a 27.9-per-cent increase. The average selling price of gold at the end of November, 2023, was $1,929 (U.S.) per ounce compared with $1,799 (U.S.) per ounce 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, Dynacor is on its way to historical annual sales of $250-million (U.S.) for 2023.

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 miners' communities.

We seek Safe Harbor.