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Dynacor Signs Share Purchase Agreement to Acquire Processing Plant and Assets in Ecuador

ACQUISITION TO MATERIALLY INCREASE NAMEPLATE PROCESSING CAPACITY

POTENTIAL TO UNLOCK ADDITIONAL VALUE THROUGH OPTIMISATION AND EXPANSION OF PURCHASING NETWORK

MONTREAL, July 08, 2025 (GLOBE NEWSWIRE) -- Dynacor Group Inc. (TSX:DNG) ("Dynacor" or the "Corporation"), is pleased to announce it has signed a share purchase agreement to acquire Arkham Metals SAS (Ecuador) from Pelorus Minerals Limited, a wholly owned subsidiary of Arkham Metals Limited Australia. As previously announced, Dynacor will pay $9.75 million for 100% of the shares of the 1,500 tpd permitted processing plant. All amounts are in US dollars unless otherwise specified.

"Svetlana", the newly acquired processing plant, is located in Portovelo, in the El Oro province of southern Ecuador. The carbon-in-pulp (CIP) plant was operated intermittently between 2011-2020, and has been in care and maintenance since Q2-2020. Under its international expansion plan, Dynacor will pay a total consideration of $25 million including the purchase price to upgrade the plant and prepare for ramp up to 300 tpd operating capacity in 2026. The transaction will be funded with proceeds from the $22.1 million financing carried out earlier this year.

Jean Martineau, President and CEO, said, "This acquisition in Ecuador is a first step and significant milestone in our journey to produce half a million ounces of gold. In addition to marking our transition into a geographically diversified gold processor, the acquisition of ...