MONTREAL, April 16, 2021 (GLOBE NEWSWIRE) — Dynacor Gold Mines Inc. (TSX-DNG) (Dynacor or the “Corporation”), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced (unaudited) first-quarter sales of US$40.9 million (C$51.8 million)1, compared to US$30.9 million (C$41.3 million) in the first quarter of 2020, a 32.4% increase.

In March 2021, the Corporation had sales of US$12.9 million (C$16.2 million) compared to US$9.0 million (C$12.5 million) in March 2020, a 43.3% increase.

The average selling price of gold in March 2021 was US$1,725 per oz. The average selling price for the first-quarter 2021 was US$ 1,785 per oz.

The first-quarter 2021 sales of US$40.9 million represents Dynacor’s best first-quarter of sales ever and places the Corporation ahead of its 2021 sales guidance of US$150.0 million, based on $US1,850 per oz gold price.

The 2021 and comparative 2020 quarterly sales and average selling prices were as follows:
https://www.globenewswire.com/NewsRoom/AttachmentNg/82fd1cd7-abac-478e-8fcb-f0dfe92342a1

During the first quarter of 2021, the Veta-Dorada Plant processed an all-time quarterly best of 29,327 tonnes of ore compared to 22,901 tonnes in the first quarter 2020, an increase of 28.1%.

The Corporation recently announced a 43% nameplate capacity increase at its Veta Dorada plant which is underway with a completion target date set for June 2021. (refer to March 24,2021 press release).

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1 sales are converted using the monthly average exchange rate

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