An anonymous director reports

DYNACOR GROUP REPORTS SALES OF US$28.5 MILLION FOR SEPTEMBER 2024 AND A QUARTERLY RECORD SALES OF US$76.2 MILLION

Dynacor Group Inc. has recorded unaudited gold sales of $28.5-million (U.S.) ($38.6-million) in September, 2024, compared with $19.3-million (U.S.) ($26.1-million) in September, 2023, a $9.2-million (U.S.) or 47.7-per-cent increase compared with last year, due to increases in both sales prices ($7.6-million (U.S.)) and volumes ($1.6-million (U.S.)). Total sales of $76.2-million (U.S.) for the third quarter represent a quarterly record.

September sales represent a month-to-month increase of $2.2-million (U.S.) (8.4-per-cent increase) over August, 2024.

The average selling price of gold was $2,585 (U.S.) per ounce, compared with $1,891 (U.S.) per ounce in September, 2023, as gold price continued rising reaching even its historical high during the month.

In September, 2024, the Veta Dorada plant continued working at full pace, processing nearly 16,000 tonnes, or an average of 532 tonnes per day.

Third quarter record sales amounted to $76.2-million (U.S.) ($103.8-million) in 2024, compared with $63.4-million (U.S.) ($84.9-million) in Q3 2023, a 20.2-per-cent increase.

The 2024 cumulative sales at the end of September amount to $211.3-million (U.S.), compared with $184.6-million (U.S.) for the same period in 2023, a 14.5-per-cent increase. The average selling price of gold at the end of September, 2024, was $2,292 (U.S.) per ounce, compared with $1,921 (U.S.) per ounce in 2023.

The corporation announced sales guidance for 2024 ranging between $265-million (U.S.) and $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 that 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.

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, watchmaker 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 communities.

Dynacor is listed on the Toronto Stock Exchange (symbol: DNG) and is part of the TSX30 program. TSX30 is the flagship program recognizing the 30 top-performing companies on TSX.