An anonymous director reports

DYNACOR GROUP REPORTS SALES OF US$26.3 MILLION FOR AUGUST 2024 POWERED BY HISTORICAL HIGH PLANT THROUGHPUT

Dynacor Group Inc. has recorded unaudited gold sales of $26.3-million (U.S.) ($35.8-million (Canadian)) in August, 2024, compared with $21.6-million (U.S.) ($29.1-million (Canadian)) in August, 2023, a $4.7-million (U.S.) or plus-21.8-per-cent increase compared with last year due to increases in sales prices (plus $5.9-million (U.S.)) partially offset by decreases in volumes (minus $1.2-million (U.S.)).

This level of sales also represents a month-to-month increase of $4.9-million (U.S.) (22.9-per-cent increase) over July, 2024.

In August, the average selling price of gold was $2,467 (U.S.) per ounce, compared with $1,912 (U.S.) per ounce in August, 2023, as gold price continued rising reaching even its historical high during the month.

In August, 2024, the Veta Dorada plant continued working at full pace processing an historical high of over 16,500 tonnes or an average of 532 tpd (tonnes per day).

The 2024 cumulative sales at the end of August amount to $182.8-million (U.S.), compared with $165.3-million (U.S.) for the same period in 2023, a 10.6-per-cent increase. The average selling price of gold at the end of August, 2024, was $2,253 (U.S.) per ounce compared with $1,925 (U.S.) per ounce in 2023.

The corporation announced sales guidance for 2024 ranging between $265-million (U.S.) to $285-million (U.S.) using a market gold price ranging between $2,000 (U.S.) and $2,050 (U.S.) per ounce. The corporation is well in line to meet those forecasted guidance.

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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