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Dynacor Reports Peruvian Customs Retain Gold Exports From December

MONTREAL, Dec. 27, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the "Corporation"), a leading ore purchasing and processing corporation servicing artisanal and small-scale miners (ASM) in Peru, reports today that the Peruvian customs authorities are retaining shipments of December gold exports for control procedures. Authorities have retained exports and requested from at least three gold exporting companies, including Dynacor, to submit supporting documents relating to their gold production.A Management expects the review to be favourable and its exports of gold to immediately resume upon clearance from the authorities. Notwithstanding the current situation, the Corporation has continued to operate normally; however, it doesn't anticipate generating any income from exports of gold in December. The Corporation will issue updates on any additional information concerning the status of its retained export.Recent Gold ProductionA In October and November 2019, the Corporation processed a monthly average exceeding 9,500 DMT of ore and produced a total of 15,500 ounces of gold. With an estimated gold production to exceed 8,000 ounces in December, Dynacor expects a record gold production of approximately 45,500 ounces for the last semester of 2019, in the high range of our revised 2019 second half gold production target of 44,000 to 46,000 ounces. A full report on the fourth-quarter production will be issued as soon as all data are available in January 2020.ABOUT DYNACOR
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