DynaResource, Inc. Reports the Signing of a 20 Year Land Lease
Agreement Between Mineras de DynaResource and the Santa Maria Ejido
Community Surrounding San Jose de Gracia
IRVING, TX--(Marketwired - Jan 13, 2014) - DynaResource,
Inc. (OTCQB: DYNR) ("DynaUSA", and "the Company") announces the
signing of a 20 year land lease agreement (The "20 Year Land
Lease") between Mineras de DynaResource S.A. de C.V. ("Mineras"),
the 100% owned subsidiary of DynaUSA and the Operator of the San
Jose de Gracia Property in northern Sinaloa, México ("SJG"), with
the Santa Maria Ejido Community ("SJG Ejido") surrounding SJG.
The 20 Year Land Lease is
dated January 6, 2014 and continues through 2033. It covers an area
of 4,399 hectares surrounding the main mineral resource areas of
SJG, and provides for annual lease payments by Mineras of $
1,359,443 Pesos (approx. $ 104,250.USD), commencing in 2014.
Additionally, under the description of the 20 Year Land Lease,
Mineras expects to construct a Medical Facility at SJG in year
2014, and a Community Center in year 2015.
Mr. K.D. Diepholz,
Chairman-CEO of DynaUSA and President of Mineras, said: "I would
like to express my appreciation to the Members of the Board of
Directors of the Santa Maria Ejido, and to the hundreds of local
SJG Ejido members, for placing their trust and confidence in
Mineras. And, I would like to thank Ing. Jose de Jesus Leon
Valenzuela, the Sinaloa State Representative of the Federal Mexican
Procuraduria Agrarian Agency ('Subdelegado Operativo de la
Delegacion Federal Procuraduria Agraria') for his advice and
assistance in structuring the 20 Year Land Lease. I have
enjoyed my direct working relationship with the SJG Ejido for the
past 10 years, and I look forward to working directly with the SJG
Ejido members in the future as Mineras continues to advance the SJG
Project. And, I look forward with excitement to Mineras assisting
the SJG Ejido with the plans of improving the local community and
surrounding areas. Mineras will continue to plan and execute the
next advances at SJG under the terms of the Exploitation Amendment
Agreement ('EAA') with DynaResource de Mexico ('DynaMéxico'), the
100% owner of the SJG Project. DynaUSA currently owns 80% of
DynaMéxico and DynaUSA owns 100% of Mineras."
Mineras - Mine Plan and Mill
(Pilot Operations)
Mineras is conducting
operations at SJG according to internally developed mine plans and
through the internally designed SJG Pilot Mill Facility which was
operated during the 2003-2006 period. There is no preliminary
economic assessment report completed for SJG so the precise cutoff
grade for underground mining has not yet been determined. The
operations are being funded internally by Mineras and DynaUSA. The
mine plan was developed from the block model of resources as
defined in the DynaMéxico NI 43-101 Mineral Resource Estimate ("See
Current NI 43-101 Mineral Resource Estimate for SJG", below); and
from the analysis of underground mining works conducted in
2003-2006. The operations at SJG are managed by Keith W. Brogoitti,
Vice-President of Mexico Operations for DynaUSA. Mineras has
rehabilitated the San Pablo Mine area of SJG, and has refurbished
the SJG Pilot Mill Facility and Mineras operatives will be
delivering mineralized material mined from San Pablo to the SJG
Mill Facility for subsequent processing and metallurgical testing.
The SJG Pilot Mill Facility (a gravimetric-flotation circuit) is
projected to process mineralized material from San Pablo in
operations similar to those conducted by DynaMéxico during the
2003-2006 Period. (See "DynaUSA-DynaMéxico" below.)
DynaMéxico Permission to
Exploit and conduct Mining Activities at the San Pablo Area of San
Jose de Gracia (Permit Issued by the Federal Environmental
Authority in México-SEMARNAT)
On September 30, 2013,
DynaMéxico received from the Secretaria de Medio Ambiente Y
Recursos Naturales, the Federal Environmental Authority in México
("SEMARNAT"), the approval and permission which allows for the
exploitation and mining activities at the San Pablo Area of SJG
("the Semarnat-SJG San Pablo Exploitation Permit"). Under the terms
of the Semarnat-SJG San Pablo Exploitation Permit, DynaMéxico is
restricted to conducting exploitation activities within the San
Pablo Area of SJG (as defined in the Map of the San Pablo area as
submitted to Semarnat). (See DynaUSA News Release of October
3, 2013).
DynaMéxico Permission to
Operate Pilot Mill Facility at SJG (Permit Issued by the Federal
Environmental Authority in México-SEMARNAT)
On June 17, 2013 DynaMéxico
received from "SEMARNAT", the approval and permission which allows
for the rehabilitation and operation of the pilot mill facility at
SJG ("the Semarnat-SJG Mill Permit"). Under the terms of the
Semarnat-SJG Mill Permit, DynaMéxico is responsible to maintain the
SJG pilot mill facility, and including the adjacent tailings pond
area, in compliance with the regulations described in la Norma
Oficial Mexicana ("NOM-141-SEMARNAT-2003"). (See DynaUSA news
release dated June 28, 2013.)
DynaUSA - DynaMéxico
DynaUSA (the "Company") is a
Resource Investment and Management Company based in Irving, Texas,
with a current focus on the San Jose de Gracia Project in Sinaloa
México ("SJG"), targeting growth in the defining and future
production of predominately gold resources. The Company formed
DynaResource de México S.A. de C.V. ("DynaMéxico") in March 2000
specifically for the purpose of acquiring and consolidating the SJG
District; and it completed the consolidation of the entire SJG
District to DynaMéxico in 2003 (approx. 15 sq. km. at that time),
with the exception of the San Miguel Mining Concession (7 Hectares,
for which DynaMéxico is proceeding towards accomplishing the
transfer of title to DynaMéxico, under previously signed sale and
purchase agreements). During the period 2003-2006, DynaMéxico
conducted pilot production operations at the San Pablo area of SJG,
reporting production results of: 18,250 Oz. Gold sold; 42,000 tons
mill feed; average feed grades of 15-20 g/t Gold; and, average
production costs of less than $175./Oz. Gold.
DynaResource Management
Team
In a prior news release dated
May 15, 2013, the Company announced: (1) the promotion of Dr. Jose
Vargas Lugo to the position of President of México Operations; and,
(2) the appointment of Mr. Keith W. Brogoitti to the position of
Vice-President of México Operations.
In a prior news release dated
September 19, 2013, DynaUSA announced the appointment of Mr. Chad
Mooney to the position of Executive Vice President-Capital
Markets.
Exclusive Operating Entity at
San Jose de Gracia - Mineras is Operator
Under the provisions of
Operating Agreements between Mineras de DynaResource S.A de C. V.
("Mineras") and DynaMéxico, including the Exploitation Amendment
Agreement dated May 15, 2013 ("EAA"); Mineras is named the
exclusive operating entity at the SJG Property. Under the
provisions of the EAA, Mineras is granted the rights to finance,
operate, maintain, explore and exploit the SJG Property. (See
DynaUSA news release dated June 21, 2013.) DynaUSA owns 100%
of Mineras.
Current Ownership of
DynaMéxico - DynaUSA owns 80%
At a DynaMéxico shareholder
meeting, held on the second call for shareholder's meeting on May
17, 2013 in Mazatlan, Sinaloa, México, the attending shareholders
unanimously approved the issuance of 300 Series B Shares of
Variable Capital of DynaMéxico to DynaUSA in exchange for the
settlement of accounts payable by DynaMéxico to DynaUSA in the
amount of $31,090,710 Mexican Pesos (approximately $ 2.4 M.
USD). After the issuance and receipt of the 300 Series B
Shares, DynaUSA holds 80% of the total outstanding Capital of
DynaMéxico.(See DynaUSA news release dated June 24, 2013.)
Operator Mineras Accounts
Receivable from DynaMéxico As of January 10, 2014, Operator Mineras
reports a current accounts receivable from DynaMéxico of $2,200,000
USD.
DynaMéxico - President Holding
General Powers of Attorney
The Chairman-CEO of DynaUSA,
who also serves as the President of DynaMéxico, holds broad powers
of attorney ("POA's") for DynaMéxico which were granted and
ratified by the shareholders of DynaMéxico in several written acts
of the shareholders.
San Jose de Gracia ("SJG")
The San Jose de Gracia
District, currently covering an area of 69,121 Hectares, is 100%
owned by DynaResource de México, S.A. de C.V.
("DynaMéxico"). DynaResource, Inc. ("DynaUSA") currently holds
80% of the outstanding shares of DynaMéxico.
In excess of one million
ounces gold was reportedly produced from the SJG District in the
early 1900's, originating from high grade gold veins, including
approximately 470,000 Oz. gold reportedly produced from the La
Purisima area of SJG at an average gold grade of 66.7 g/t. In
June 2010, the SJG Project was recognized by the State of Sinaloa
as the most significant Gold Project in the State for the year
2010.
Current NI 43-101 Technical
Report for DynaMéxico - SJG
DynaResource, Inc. received
from DynaMéxico on March 28, 2012 a National Instrument 43-101 ("NI
43-101") compliant Technical Report for the San Jose de Gracia
Project (the "2012 DynaMéxico Luna-CAM SJG Technical Report", the
"Technical Report"), and approved by DynaMéxico, the 100% owner of
SJG. The 2012 DynaMéxico Luna-CAM SJG Technical Report was
prepared by Mr. Ramon Luna, BS, P.Geo., of Servicios y Proyectos
Mineros, Hermosillo, México and a Qualified Person as defined under
NI 43-101; and by Mr. Robert Sandefur, BS, MSc, P.E., a senior
reserve analyst for Chlumsky, Armbrust & Meyer LLC, Lakewood,
CO., and a Qualified Person as defined under NI 43-101. The 2012
DynaMéxico Luna-CAM SJG Technical Report includes as Section
Fourteen (14) a Mineral Resource Estimate for SJG as prepared by
Mr. Sandefur (the "2012 DynaMéxico-CAM SJG 43-101 Mineral Resource
Estimate", and, the "Mineral Resource Estimate"). The Company filed
the Technical Report on SEDAR (www.sedar.com) on March 28,
2012.
The Company received from
DynaMéxico on December 31, 2012, an updated NI 43-101 compliant
("NI 43-101") Technical Report for the San Jose de Gracia Project
(the "Updated 2012 DynaMéxico Luna-CAM SJG Technical Report," and
the "Updated Technical Report"). The Updated Technical Report was
approved by DynaMéxico, and filed by the Company with SEDAR on
December 31, 2012. (See DynaUSA news release dated January 10,
2013.)
Current NI 43-101 Mineral
Resource Estimate for SJG
The 2012 DynaMéxico-CAM SJG
Mineral Resource Estimate concentrates on four separate main vein
systems at SJG: Tres Amigos, San Pablo, La Union, and La Purisima.
The Mineral Resource Estimate includes Indicated Resources at: (1)
Tres Amigos of 893,000 tonnes with an average grade of 4.46 g/t,
totaling 128,000 Oz. Au; and (2) San Pablo of 1,308,000 tonnes with
an average grade of 6.52 g/t, totaling 274,000 Oz. Au. The Mineral
Resource Estimate also includes an Inferred Resource of 3,953,000
tonnes in aggregate for the four main vein systems, with an average
grade of 5.83 g/t, totaling 741,000 Oz. Au. The Effective Date of
the 2012 DynaMéxico Luna-CAM SJG Technical Reports and including
the 2012 DynaMéxico-CAM SJG 43-101 Mineral Resource Estimate is
February 6, 2012. The Mineral Resource Estimate is reported using a
2.0 g/t cut off grade for underground mining. As of the Effective
Date of the Technical Reports and Mineral Resource Estimate, there
is no economic assessment report completed for SJG so the precise
cutoff grade for underground mining has not yet been
determined.
On behalf of the Board of
Directors of DynaUSA, K.D. DIEPHOLZ; DynaResource, Inc; Chairman
and CEO
On Behalf of the Board of
Directors of Mineras de DynaResource K.D. DIEPHOLZ; Presidente;
IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE
STANDARDS
The Company is an "OTC
Reporting Issuer" as that term is defined in BC Instrument 51-509,
Issuers Quoted in the U.S. Over-the-Counter Markets,
promulgated by the British Columbia Securities Commission.
Accordingly, certain disclosure in this news release or other
disclosure provided by the Company has been prepared in accordance
with the requirements of securities laws in effect in Canada, which
differ from the requirements of United States securities laws. In
Canada, an issuer is required to provide technical information with
respect to mineralization, including reserves and resources, if
any, on its mineral exploration properties in accordance with
Canadian requirements, which differ significantly from the
requirements of the United States Securities and Exchange
Commission (the "SEC") applicable to registration statements and
reports filed by United States companies pursuant to the Securities
Act of 1933, as amended, or the Securities Exchange Act of 1934, as
amended. As such, information contained in this news release or
other disclosure provided by the Company concerning descriptions of
mineralization under Canadian standards may not be comparable to
similar information made public by United States companies subject
to the reporting and disclosure requirements of the SEC and not
subject to Canadian securities legislation. This news release or
other disclosure provided by the Company may use the terms
"measured mineral resources", "indicated mineral resources" and
"inferred mineral resources". While these terms are recognized and
required by Canadian regulations (under National Instrument 43-101,
Standards of Disclosure for Mineral Projects), the SEC
does not recognize them. United States investors are cautioned not
to assume that any part or all of the mineral deposits in these
categories will ever be converted to reserves. In addition,
"inferred mineral resources" have a great amount of uncertainty as
to their existence and economic and legal feasibility. It cannot be
assumed that all or any part of an inferred mineral resource will
ever be upgraded to a higher category. Under Canadian securities
legislation, estimates of inferred mineral resources may not form
the basis of feasibility or pre-feasibility studies, although they
may form, in certain circumstances, the basis of a "preliminary
economic assessment" as that term is defined in National Instrument
43-101, Standards of Disclosure for Mineral Projects. U.S.
investors are cautioned not to assume that part or all of an
inferred mineral resource exists, or is economically or legally
mineable.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This News release contains
forward-looking statements within the meaning of Section 27 A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934.
Certain information
contained in this news release, including any information relating
to future financial or operating performance may be deemed
"forward-looking". All statements in this news release, other than
statements of historical fact, that address events or developments
that DynaResource expects to occur, are "forward-looking
information". These statements relate to future events or
future performance and reflect the Company's expectations regarding
the future growth, results of operations, business prospects and
opportunities of DynaResource. These forward-looking
statements reflect the Company's current internal projections,
expectations or beliefs and are based on information currently
available to DynaResource. In some cases forward-looking
information can be identified by terminology such as "may", "will",
"should", "expect", "intend", "plan", "anticipate", "believe",
"estimate", "projects", "potential", "scheduled", "forecast",
"budget" or the negative of those terms or other comparable
terminology. Certain assumptions have been made regarding the
Company's plans at the San Jose de Gracia property. Many of these
assumptions are based on factors and events that are not within the
control of DynaResource and there is no assurance they will prove
to be correct. Such factors include, without limitation:
capital requirements, fluctuations in the international currency
markets and in the rates of exchange of the currencies of the
United States and México; price volatility in the spot and forward
markets for commodities; discrepancies between actual and estimated
production, between actual and estimated reserves and resources and
between actual and estimated metallurgical recoveries; changes in
national and local governments in any country which DynaResource
currently or may in the future carry on business; taxation;
controls; regulations and political or economic developments in the
countries in which DynaResource does or may carry on business; the
speculative nature of mineral exploration and development,
including the risks of obtaining necessary licenses and permits,
diminishing quantities or grades of reserves; competition; loss of
key employees; additional funding requirements; actual results of
current exploration or reclamation activities; changes in project
parameters as plans continue to be refined; accidents; labor
disputes; defective title to mineral claims or property or contests
over claims to mineral properties. In addition, there are
risks and hazards associated with the business of mineral
exploration, development and mining, including environmental
hazards, industrial accidents, unusual or unexpected formations,
pressures, cave-ins, flooding and gold bullion losses (and the risk
of inadequate insurance or inability to obtain insurance, to cover
these risks) as well as those risks referenced in the Annual Report
for DynaResource available at www.sec.gov.
Forward-looking information is not a guarantee of future
performance and actual results and future events could differ
materially from those discussed in the forward-looking
information. All of the forward-looking information contained
in this news release is qualified by these cautionary
statements. Although DynaResource believes that the
forward-looking information contained in this news release is based
on reasonable assumptions, readers cannot be assured that actual
results will be consistent with such statements. Accordingly,
readers are cautioned against placing undue reliance on
forward-looking information. DynaResource expressly disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, events or
otherwise.
For further information on DynaUSA and DynaMexico, please
visit www.dynaresource.com or contact: Brad J.
Saulter DynaUSA V.P. - Investor Relations K.D. Diepholz DynaUSA
Chairman / CEO DynaResource de Mexico S.A. de C.V.-Presidente
Mineras de DynaResource S.A. de C.V.-Presidente US. Telephone:
972-868-9066
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