Mr. Dale Nejmeldeen reports

WITH SALES OF US$20.3 MILLION (C$27.3 MILLION) IN DECEMBER 2023, DYNACOR GROUP REPORTS HISTORICAL ANNUAL SALES OF US$250.2 MILLION FOR 2023, AN INCREASE OF 26.7% OVER LAST YEAR

Dynacor Group Inc. had recorded unaudited gold sales of $20.3-million (U.S.) ($27.3-million) for December, 2023, compared with $17.8-million (U.S.) ($24.2-million) in December, 2022, and historical annual sales of $250.2-million (U.S.) ($337.6-million), compared with $197.5-million (U.S.) ($256.9-million), an increase of 26.7 per cent compared with 2022.

Sales increase versus December of last year of $2.5-million (U.S.) or 14 per cent is mainly due to increase in sales price (12.4 per cent). Annual sales increase versus last year of $52.7-million (U.S.) or 26.7 per cent is due to increase in sales volume (17.7 per cent) and increase in sales price (9 per cent).

In December, the average selling price of gold exceeded $2,000 (U.S.) per once at $2,024 (U.S.) per ounce, compared with $1,810 (U.S.) per ounce in December, 2022. The average selling price of gold for 2023 was $1,936 (U.S.) per ounce compared with $1,800 (U.S.) per ounce in 2022.

During December, 2023, the Veta Dorada plant continued working at full pace processing 14,328 tonnes (cumulative year to date of 170,668 tonnes).

The corporation will release in February its 2024 financial guidance and at the end of March its 2023 annual financial results.

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.