Tag: DynaResource Inc

DynaResource Announces Offtake Extension, Credit Line Expansion and Private Placement

Extension of Commercial Offtake Agreement through December 2028; Ocean Partners to extend a $4M Temporary Additional Credit Line and to increase Revolving Credit Line to $12.5M, following certain conditions; Major Shareholder Golden Post LLC to purchase $2.5M Shares of Common Stock of DynaResource Inc at $1.61 per share.

DYNR-DynaResource, Inc. (OTCQX:DYNR) (DynaResource, or the Company) is pleased to report the following update regarding the Company and its 100%-owned San Jose de Gracia high grade gold project in Sinaloa, México (SJG). All figures in United States Dollars (USD).

  • Ocean Partners UK Limited (“Ocean Partners”), through its 100% owned subsidiary in Mexico – MK Metals Trading Mexico S.A. de CV (“MK”), and the Company have formalized the extension of their commercial offtake agreement through December 31, 2028, and with revision of terms as per below:
    • Ocean Partners agreed to provide a Temporary Additional Credit Line (“TACL”) of $4M, payable November 30, 2024;
    • Ocean Partners agreed to increase the Revolving Credit Line (“RCL) from $10M to $12.5M after November 30, 2024 and following the repayment of the TACL and RCL;
    • Ocean Partners to provide the Company a Put Option to convert up to $9M of the Revolving Credit Line into Common Stock at a price expected to be approximately $1.61 per share, exercisable between November 1 and 30, 2024.
  • The Company has agreed to issue 1,552,795 shares of Common Stock to Golden Post Rail LLC (“Golden Post”) in exchange for $2.5M USD. The Company plans to utilize the funds received from Ocean Partners and Golden Post to further expand and increase mining and milling activities at SJG, to expand the tailings storage facility, to continue exploration drilling and related exploration activities, and for general corporate purposes.

“We are pleased to receive this strong level of support from key stakeholders being Ocean Partners, our offtake partner, and Golden Post, our largest shareholder,” stated Rohan Hazelton, President & CEO DynaResource. “These funds are an endorsement of our business plans to optimize operations and increase shareholder value.”

On behalf of Ocean Partners, Brent Omland, co-CEO of Ocean Partners commented: “We are very pleased to expand our strong relationship with DynaResource and are excited to be a part of the continuing development and expansion of the world class SJG Project.”

On behalf of the Board of Directors of DynaResource, Inc.
Rohan Hazelton
President & Chief Executive Officer

About DynaResource
DynaResource is a junior gold mining producer trading on the OTCQX under the symbol “DYNR”. DynaResource is actively mining and expanding the historic San Jose de Gracia gold mining district in Sinaloa, Mexico.

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an “OTC Reporting Issuer” as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions. 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 PL 4332389.2 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 PL 4332389.2 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 Gràcia 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 Information on DynaUSA and DynaMéxico, please visit www.dynaresource.com, or contact:

Brad J. Saulter, DynaUSA V.P. – Investor Relations: 972-996-7417; 
General Inquiries: 972-869-9400
Rohan Hazelton, DynaUSA – President & CEO

Contact Information
Brad J. Saulter
DynaUSA V.P. – Investor Relations
972-869-9400

SOURCE: DynaResource, Inc.

DynaResource, Inc. Announces Executive Leadership Change

Mr. Rohan Hazelton Appointed as President, CEO, Interim CFO and Director of DynaResource, Inc.

DYNR-DynaResource, Inc. (OTCQX:DYNR) (DynaResource, or the Company) today announced the appointment of Mr. Rohan Hazelton as President and Chief Executive Officer (CEO), Interim Chief Financial Officer and Director of the Company, effective immediately. Mr. Hazelton is an experienced mining executive whose career spans multiple decades in executive roles at senior mining companies as well as with junior producers and developers. Mr. K.D. Diepholz will resign as President and CEO and will continue to assume the role of Chairman of the Board of Directors. Mr. Diepholz will assist Mr. Hazelton in assuming the CEO / President roles, and to ensure a smooth transition for the Company.

Mr. Brent Omland, Director of the Company, and Co-CFO of Ocean Partners UK Limited, who is a shareholder of the Company said: “On behalf of the board of directors and shareholders, I would like to thank KD for his exceptional service and dedication to DynaResource. KD has been instrumental in founding and developing DynaResource and leading the Company to the position it has attained today. We are grateful for KD’s leadership in consolidating the ownership of San Jose de Gracia, and for bringing San Jose de Gracia into production and growing the sale of gold concentrate. In addition to applying his considerable finance and industry experience to DynaResource, KD created a strong foundation for the further development of the San Jose de Gracia Project, and he has built an exceptional team with which to advance the operations and expansion activities currently ongoing at San Jose de Gracia.”

Mr. Diepholz stated: “We are delighted to welcome Rohan to his new role as President, CEO, Interim CFO and Director of DynaResource. Rohan’s deep experience in corporate and mine development aligns with our Company goals to build a world-class mining company. Rohan has an impressive track record of advancing mining companies through financing, production and operational expansions and improvements. I am confident his proven skills, along with his entrepreneurial spirit will prove to be instrumental in advancing DynaResource to the next levels as a mid tier mining company.”

Mr. Phil Rose, Director of the Company said, “We would like to thank KD for his commitment to DynaResource. We are grateful for the accomplishments made by the Company under his leadership including bringing San Jose de Gracia into production after a 100-year hiatus. We are excited to continue the expansion of SJG with Rohan and look forward to his guidance and contributions in improving operational and financial performance.”

Mr. Hazelton has over 20 years of leadership experience in the mining industry, with financing and operational expertise, and experience building and expanding mines and leading high-performance teams which are the foundations for world-class companies. Mr. Hazelton has significant operational experience in Mexico. Prior to joining DynaResource, Mr. Hazelton was Chief Executive Officer of NorZinc Ltd, a zinc-lead-silver developer, Chief Financial Officer of both Cerrado Gold (TSXV: CERT) and Ascendant Resources (TSX: ASND), and co-founded KORE Mining (TSXV: KORE), serving as KORE’s CEO. Prior to that, he worked at Goldcorp, and its predecessor Wheaton River Minerals, as one of its earliest employees and held roles of increasing leadership and responsibility throughout the organization including CFO Goldcorp Mexico and VP Strategy.

Mr. Hazelton has served on the Board of Directors of NorZinc, Primero Mining, Terrane Metals and Gryphon Gold as well as several non-profits. He holds the Chartered Professional Accountant designation and graduated from Harvard University with Honors, with a Bachelor of Arts in Applied Math and Economics.

Mr. Hazelton has been granted DSUs, RSUs and Stock Options under the Company’s Equity Incentive Plan of 1.75 million shares at an exercise price equal to $1.75 per share, subject to regulatory and shareholder approvals, if required.

The Company has also accepted the resignation of Ing. Rene Mladosich from the Company’s Board of Directors in order for Rohan Hazelton to be named Director. “We would like to thank Rene for his several years’ of service as a Director of the Company, and for his ongoing leadership provided for the entire operations team,” said KD Diepholz.

About DynaResource
DynaResource is a junior gold mining producer trading on the OTCQX under the symbol “DYNR”. DynaResource is actively mining and expanding the historic San Jose de Gracia gold mining district in Sinaloa, Mexico.

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an “OTC Reporting Issuer” as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions. 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 Gràcia 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 Information on DynaUSA and DynaMéxico, please visit www.dynaresource.com, or contact:Brad J. Saulter, DynaUSA V.P. – Investor Relations: 972-996-7417;General Inquiries: 972-869-9400K.D. Diepholz, DynaUSA – Chairman

Contact Information
Brad J. Saulter
DynaUSA V.P. – Investor Relations
972-869-9400

SOURCE: DynaResource, Inc.

DynaResource, Inc. Appoints Directors

  • Dr. Quinton Hennigh and Mr. Brent Omland Appointed to Company’s Board of Directors

DYNR-DynaResource, Inc. (OTCQB:DYNR) (DynaUSA, and the Company) is pleased to announce that it has appointed Dr. Quinton Hennigh and Mr. Brent Omland as Directors to the Board of Directors of the Company; and that the Company accepted the resignations of Dr. Jose Vargas Lugo and Mr. Ronald Vail from the Company’s Board of Directors in order to make the two Board Seats available. The appointments and resignations are effective February 16, 2024. Dr. Vargas Lugo will remain in his position with the Company as Director of Operations – Mexico, and Mr. Vail will become a non-voting Board observer.

Dr. Hennigh is an exploration geologist with 33 years’ experience, predominantly in the gold industry. He holds a M.Sc. and Ph.D. in geology and geochemistry from the Colorado School of Mines. Early in his career, he explored for gold for major mining companies including Homestake Mining Company, Newcrest Mining Ltd., and Newmont Mining Corporation. Beginning in 2007, Dr. Hennigh shifted focus to the junior mining space where he has worked for several successful gold explorers, notably Gold Canyon Resources where he led the discovery of the 5.2 million ounce Springpole gold deposit, Ontario. Currently, Dr. Hennigh is Technical and Geologic Director to Crescat Capital and is CEO of private miner, San Cristobal Mining.

Mr. Omland was elected to serve as a Director pursuant to the terms of the Stock Purchase Agreement (the “Stock Purchase Agreement”) dated August 2, 2023, by and between the Company and Ocean Partners Holdings Limited (“Ocean Partners”). Mr. Omland is the Co-CEO of Ocean Partners, which purchases substantially all the gold produced by the Company pursuant to that certain Gold Concentrate Purchase Agreement dated February 1, 2021, as amended, by and between the Company’s affiliate, DynaResource de Mexico, SA de CV (“DynaMéxico’), and an affiliate of Ocean Partners, MK Metal Trading Mexico SA de CV.

Mr. Omland is a mining executive with 20 years of experience in the mining and metals trading industry. Mr Omland is a graduate of the University of British Columbia and a Canadian CPA. Mr. Omland has also worked in finance roles for Teck Resources and in senior finance roles for an integrated lead mining and smelting group based in Australia (Ivernia/Enirgi Metals). Mr. Omland also serves on the Board of Directors for Dore Copper Mining Corp, Galantas Gold Corporation and Nicola Mining Inc., all listed on the TSX-V.

Mr. K.D. Diepholz, Chairman of the Board of Directors and CEO of DynaResource, Inc., and President of DynaMéxico, which currently owns 100% of the prolific San Jose de Gracia high grade gold project in Sinaloa State, Mexico (“SJG”); stated: “I am very pleased to add the expertise of an internationally renowned mining professional such as Dr. Hennigh to our Board of Directors. We look forward to utilizing his expertise and experience as we continue to expand the operations and resources at SJG.

I also greatly appreciate the attention and support we have received from Mr. Omland and Ocean Partners since February 2021, and I am pleased to welcome Brent to the Board of Directors. Quinton and Brent will be integral and valuable additions to the Board of Directors team, and I’m certain they will provide significant and strategic contributions to the further advance and development of the prolific SJG Project. I am excited and looking forward to working with Quinton and Brent.

I would also like to thank Dr. Jose Vargas Lugo and Mr. Ron Vail for their significant contributions to DynaResource over the past few years. Dr. Vargas will continue to be an integral executive for our management team, and Ron will continue to support our strategic business planning. Dr. Vargas and Ron have both contributed greatly to the significant achievements made by DynaResource.”

“I am delighted to join DynaResource alongside Brent Omland,” commented Dr. Hennigh. “San José de Gracia is an exceptional low sulfidation epithermal vein camp that I have kept my eye on for many years. While it is famous for its historic high-grade gold production, I believe this is a system that remains grossly under-explored. I can see several immediate targets in which new high-grade veins might be discovered. I look forward to helping DynaResource develop their current resources as well as pursue the next generation of discoveries yet to be made at San José de Gracia.”

On behalf of Ocean Partners, Mr. Brent Omland, co-CEO of Ocean Partners commented: “We are very pleased to expand our strong relationship with DynaResource and their excellent team in the US and México. We are excited to be a part of the continuing development and expansion of the world class SJG Project and we look forward to providing K.D. and his team additional support and resources.”

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an “OTC Reporting Issuer” as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions. 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 Gràcia 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 Information on DynaUSA and DynaMéxico, please visit www.dynaresource.com, or contact:

Brad J. Saulter, DynaUSA V.P. – Investor Relations: 972-996-7417; General Inquiries: 972-869-9400K.D. Diepholz, DynaUSA – Chairman / CEODynaResource de México-Presidente

Contact Information
Brad J. Saulter
DynaUSA V.P. – Investor Relations
972-869-9400

SOURCE: DynaResource, Inc.

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View the original press release on newswire.com.

DynaResource, Inc. and DynaResource De Mexico SA De CV Are Pleased to Announce the Following

On August 3, 2023, Ocean Partners UK Limited purchased 1M Shares of DynaResource, Inc. at $5 / Share; Total Price Paid by Ocean Partners UK Limited of $5M USD.
Ocean Partners UK Limited, through its 100% owned subsidiary in Mexico, MK Metal Trading SA de CV and DynaResource de Mexico SA de CV, the 100% owned subsidiary of DynaResource, Inc. in Mexico, formalized a + 3 Year Extension of Commercial Offtake Agreement through December 2026; with possible annual continuations thereafter.

DYNR-DynaResource, Inc. (OTCQB:DYNR) (DynaUSA, and the Company) is pleased to announce the following update regarding the Company and DynaResource de Mexico SA de CV (DynaMexico), the wholly owned subsidiary of DynaUSA and the 100% Owner of Concessions comprising the prolific San Jose de Gracia high-grade gold project in Sinaloa, Mexico (SJG). All of these developments are in fulfillment of the MOU between the Company and Ocean Partners UK Limited (Ocean Partners), which was previously disclosed to the Company’s shareholders.

  • The Company has entered into a Stock Purchase Agreement with Ocean Partners (the “SPA”), under which the Company issued 1M shares of Common Stock to Ocean Partners in exchange for $5M USD.
  • Under the SPA, Ocean Partners will name one director to serve on the Board of Directors of DynaUSA.
  • Ocean Partners, through its 100% owned subsidiary in Mexico – MK Metals Trading (“MK”), and DynaMexico have formalized the extension of their commercial offtake agreement through December 31, 2026, and with revision of terms as per below:
  • OP / MK agreed to Increase the Advance Credit Line available to DynaMexico to $17.5M USD.
  • OP / MK agreed to provide an Option to convert the Advance Credit Line into a Revolving Credit Line, repayable in 12 months, in maximum amount of $10M USD.

The Company and DynaMexico plan to utilize the funds received from Ocean Partners to further expand and increase test mining and milling activities at SJG, to continue exploration drilling and related exploration activities at SJG, and for general corporate purposes.

In commenting on the transactions formalized with Ocean Partners and MK, DynaUSA Chairman-CEO and DynaMexico President Mr. K.D. Diepholz noted: “We greatly appreciate the attention and support we have received from Ocean Partners since February 2021, and we have enjoyed our professional working relationship with Brent Omland, Al Paterson, and Roberto Guerra. We expect Ocean Partners to make significant and strategic contributions to the further advance and development of the prolific SJG Project. And, with this extension of commercial offtake agreement formalized, DynaUSA and DynaMexico will continue our excellent partnership with Ocean Partners for many years.”

On behalf of Ocean Partners, Mr. Brent Omland, co-CEO of Ocean Partners commented: “We are very pleased to expand our strong relationship with Dyna and the excellent team in the US and Mexico and to join the shareholder register. We are excited to be a part of the continuing development and expansion of the world class SJG Project and provide K.D. and his team additional support and resources.”

On behalf of the Board of Directors of DynaResource, Inc.
K.D. DIEPHOLZ
DynaResource, Inc., Chairman and CEO.
DynaResource de Mexico, S.A. de C.V., Presidente.

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an “OTC Reporting Issuer” as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions. 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 27A 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 statements.” All statements in this news release, other than statements of historical fact, which address events or developments that DynaResource expects to occur, are “forward-looking statements.” 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 Mexico; 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 statements are not a guarantee of future performance, and actual results and future events could differ materially from those discussed in the forward-looking statements. All forward-looking statements contained in this news release are qualified by these cautionary statements. Although DynaResource believes that the forward-looking statements contained in this news release are 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 statements. DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

For further information on DynaUSA and DynaMexico, visit www.dynaresource.com.

Contact Information
Brad J. Saulter
DynaUSA V.P. – Investor Relations
972-868-9066

DynaResource, Inc. and DynaResource De Mexico SA De CV. Announce Extension of Offtake Agreement With Ocean Partners Holdings Ltd.

Extension of Commercial Offtake Agreement through December, 2026; Ocean Partners to Purchase 1M Shares of Common Stock of DynaResource, Inc. at $5 / Share

DynaResource, Inc. (OTCQB:DYNR) (DynaUSA, and the Company) is pleased to report the following Update regarding the Company and DynaResource de Mexico SA de CV. (DynaMexico), the wholly owned subsidiary of DynaUSA and the 100% Owner of Concessions comprising the San Jose de Gracia high grade gold project in Sinaloa, Mexico (SJG).

Ocean Partners Holdings Ltd. (“Ocean Partners”, “OP”) and DynaMexico have agreed:
– To extend the current commercial Offtake Agreement through December 2026;
– OP to Increase the Advance Credit Line available to DynaMexico to $17.5M USD;
– OP to provide an Option to convert the Advance Credit Line into a Revolving Credit Line, repayable in 12 months, in maximum amount of $10M USD;

Ocean Partners and DynaUSA have agreed:
– Ocean Partners will purchase 1M Shares of DynaUSA at $5 / Share;
– 1 Designee of Ocean Partners will be named to the Board of Directors of DynaUSA

In commenting on the transactions with Ocean Partners; DynaUSA Chairman-CEO, and DynaMexico President Mr. K.D. Diepholz noted: “We greatly appreciate the attention and support we have received from Ocean Partners since February 2021, and in particular; Brent Omland, Al Paterson, and Roberto Guerra. Now, with this extension of commercial offtake agreement formalized, DynaUSA and DynaMexico will continue our excellent partnership with Ocean Partners for many years.”

On behalf of the Board of Directors of DynaResource, Inc.;
On behalf of the Board of Directors of DynaResource de Mexico S.A. de C.V.;

K.D. DIEPHOLZ
DynaResource, Inc.; Chairman and CEO
DynaResource de Mexico, S.A. de C.V.; Presidente

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an “OTC Reporting Issuer” as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions.

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 27A 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 statements.” All statements in this news release, other than statements of historical fact, which address events or developments that DynaResource expects to occur, are “forward-looking statements.” 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 Mexico; 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 statements are not a guarantee of future performance, and actual results and future events could differ materially from those discussed in the forward-looking statements. All forward-looking statements contained in this news release are qualified by these cautionary statements. Although DynaResource believes that the forward-looking statements contained in this news release are 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 statements. DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking statements, 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; US Telephone: 972-868-9066
K.D. Diepholz, DynaUSA – Chairman / CEO DynaResource de Mexico, S.A. de C.V. – Presidente

Contact Information
Brad J. Saulter
DynaUSA V.P. – Investor Relations
972-868-9066