Mr. Jean Martineau reports

DYNACOR PRESENTS ITS 2023 ESG REPORT

Dynacor Group Inc. has released its fourth ESG (environmental, social and governance) report, in accordance with the Global Reporting Initiative (GRI) Standards.

Jean Martineau, president and chief executive officer of Dynacor Group, announced that 2023 was another exceptional year in Dynacor's history. "We maintained our sustained growth with the production of 130,001 ounces of gold equivalent and, consequentially, our sales increased to $251.5-million (U.S.). Likewise, we distributed a value of $254.8-million (U.S.) in purchases, payments of obligations, investments and taxes," he declared.

International cyanide code

During 2023, implementation of the requirements of the international cyanide management code (cyanide code) began. "In the second quarter of this year, our subsidiary, Veta Dorada, became the first company that processes ASM (artisanal and small-scale mining) gold ore to obtain the international cyanide code certification, which fills us with pride. It is a sign of the actions we are implementing as part of our commitment to sustainability," emphasized Mr. Martineau.

Relationship with mining suppliers (ASM)

The corporation noted that its relationship with mining suppliers continued to strengthen. As a result, there was a 34-per-cent increase in ore purchases from mining suppliers in Peru (ASM) compared with 2022 ($201.9-million (U.S.) in 2023 versus $150.6-million (U.S.) in 2022).

Traceability and shared vision

In 2023, the traceability of gold was consolidated with the mineral management system, internal verification system and on-site visits to mining suppliers. Furthermore, new trends continued to be implemented in governance, environmental protection and relations with the populations of the area of influence in Peru.

In the social sphere, investment was made through the community development program (Veta Dorada subsidiary) and Fidamar (international fund for artisanal miners), whose funds come from the PX Impact program.

"With a shared vision, we invested $105,958 (U.S.) in communities, in health, nutrition, education, environmental management, basic infrastructure, and development and building of capacities in local institutions, benefiting more than 15,684 people. And, through Fidamar, we allocated $527,300 (U.S.), which directly benefited more than 9,000 people, including children and adults from artisanal mining communities," said Mr. Martineau.

Within the environmental management of our operations, he indicated, we have registered important achievements such as an 18-per-cent reduction in water consumption intensity and we operate with zero effluents. In addition, 51 per cent of our global energy consumption was from renewable sources and we started measuring our scope 3 greenhouse gas emissions.

Preparing talent

"To ensure our expansion and leadership, we are improving the skills of our employees with training at various levels, with the comprehensive mining management program and reporting process according to the 2021 GRI standards and reporting on human rights with the 2021 GRI standards," said Mr. Martineau.

"At Dynacor, we will continue to implement best practices that will help us strengthen our business model with ASM and we will seek to create value for our stakeholders, as well as develop opportunities for our area of influence," remarked the president and CEO of Dynacor Group.

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.

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