Dynasty Finalizes Acquisition of Red Valley Gold Project in China.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Dynasty An application development system for enterprise client/server environments from Dynasty Technologies, Inc., Houston, TX (www.dynasty.com). Introduced in 1993, it is a repository-driven system that supports Windows, Mac and Motif clients and NT, OS/2 and major Unix servers and databases. Gold Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE: DYG) ("Dynasty" or the "Company") is pleased to announce that further to its news release dated April 20, 2004, due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , including an independent NI 43-101 technical report, has been completed on the Red Valley Project, located in the Qinghai Qinghai or Tsinghai (both: chĭng`hī`), province (1990 pop. 4,510,000), c.279,000 sq mi (722,797 sq km), W China. Xining is the capital. Province, People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. As a result, the Company has elected to proceed with the acquisition of a 100% interest in Terrawest Exploration Inc. ("TWE TWE Test of Written English TWE ThinkWave Educator (teacher productivity application) TWE That Was Easy TWE tap water enema TWE Threat Warning Equipment TWE Transitional Work Experience TWE Triangle Wind Ensemble "), a private B.C. corporation, through a Share Purchase Agreement. This enables Dynasty to earn up to an 80% interest in the underlying Sino Joint Venture with the Qinghai Provincial Institute of Geological Survey The term geological survey can be used to describe both the conduct of a survey for geological purposes and an institution holding geological information. A geological survey ("Qinghai Institute") for which a business license has been issued. The primary exploration focus of the joint venture is possible orogenic-type gold deposits within an area of interest of 1,100 km2. As reported by the Qinghai Institute, two gold showings located on the property have returned potentially ore grade Ore grade is a measure that describes the concentration of a valuable natural material (such as metals or minerals) in its surrounding ore. Ore grade is used to assess the economic feasibility of a mining operation: the cost of extracting a natural material from its ore is directly gold values over mineable widths from trenches along a major northwest trending structure which has been traced over a strike length in excess of 6.0 km. A summary of trench trench: see ocean. values from the first showing, Chuancigou, as obtained and reported by the Qinghai Institute, are as follows:
Summary of Trench Assays, Chuancigou Showing
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Trench No. Location Gold Grade (g/t) Sample Width (m)
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TC12 South Shear 1.36 7.70
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TC13 South Shear 4.93 3.00
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con't. 3.20 6.50
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TC15 South Shear 6.20 22.62
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TC16 South Shear 3.02 1.00
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TC19 South Shear 3.67 22.00
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TC33 North Shear 5.60 5.00
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TC35 North Shear 4.46 13.20
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TC42 North Shear 12.40 4.90
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con't 4.32 3.00
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TC43 North Shear 3.38 3.00
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TC44 North Shear 2.60 0.50
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Note: Widths shown are sampled widths. Mineralized zones dip
between vertical and 70 degrees.
The second gold showing, Hongtugou, has been investigated by the Qinghai Institute, over a strike length of 1,800 m by approximately 60 surface trenches and two adits. A summary of significant trench assays, as reported by the Qinghai Institute, is as follows: Summary of Trench Assays, Hongtugou Showing ------------------------------------------------------------- Zone No. Trench No. Gold Grade (g/t) Sample Width (m) ------------------------------------------------------------- I TC4 1.27 10.84 ------------------------------------------------------------- II TC4 2.32 4.80 ------------------------------------------------------------- II TC13 12.52 2.90 ------------------------------------------------------------- II TC14 2.31 4.00 ------------------------------------------------------------- III TC26 2.80 3.00 ------------------------------------------------------------- III TC5 2.28 5.70 ------------------------------------------------------------- III TC22 5.96 10.00 ------------------------------------------------------------- III TC19 4.66 16.00 ------------------------------------------------------------- III TC2 3.03 3.30 ------------------------------------------------------------- III TC23 2.80 2.00 ------------------------------------------------------------- III TC17 3.26 4.60 ------------------------------------------------------------- IV TC40 4.30 1.00 ------------------------------------------------------------- IV TC35 6.52 7.20 ------------------------------------------------------------- V TC42 2.10 2.60 ------------------------------------------------------------- V TC7 7.23 5.00 ------------------------------------------------------------- V TC25 1.80 10.00 ------------------------------------------------------------- VI TC46 5.36 4.30 ------------------------------------------------------------- VI TC8 4.41 2.40 ------------------------------------------------------------- VII TC29 2.16 2.00 ------------------------------------------------------------- VII TC11 4.81 5.40 ------------------------------------------------------------- VII TC28 2.58 1.00 ------------------------------------------------------------- Note: Sample width is true width. An independent NI 43-101 report written by Ian Perry, P.Geo., of Norwest Corporation has been received by the Company. Mr. Perry visited the property between the 21st and 24th of July, 2004, to confirm location, infrastructure and the presence of previously reported gold showings. One grab sample Noun 1. grab sample - a single sample or measurement taken at a specific time or over as short a period as feasible sample - a small part of something intended as representative of the whole , from a short adit driven into the Chuancigou mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zone, returned a value of 22.3 g/t from a fire assay performed by Chemex Labs, Vancouver, B.C. Mr. Perry writes that the "geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. environment within the project area hosts part of a major regional shear shear: see strength of materials. Shear A straining action wherein applied forces produce a sliding or skewing type of deformation. zone, along which previous work by various Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
Under the terms of the Share Purchase Agreement, Dynasty may acquire a 100% interest in TWE by issuing up to 6,000,000 shares to TWE which will be held in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. , to be released under the provisions of the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. policies. The transaction is subject to regulatory approval and shareholder approval. The Company is also pleased to announce the closing of its private placement of 3,200,000 units at a price of $0.50 per unit. 3,200,000 shares and 3,200,000 share purchase warrants were issued on August 20, 2004, and will not become free trading until December 21, 2004. Dynasty is a Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. based junior resource company focused on acquiring, exploring and developing gold prospects in China. ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP. Jonathan George, President This press release contains certain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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