NEW YORK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced DynaResource, Inc. (OTCQX: DYNR), a junior gold resource company, has qualified to trade on the OTCQX® Best Market. DynaResource, Inc. upgraded to OTCQX from the OTCQB® Venture Market.
DynaResource, Inc. begins trading today on OTCQX under the symbol “DYNR.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
About DynaResource, Inc.
DynaResource, Inc. (“DynaResource”) is a dynamic and emerging junior gold resource company currently conducting test mining and milling activities and producing high grade gold concentrates, and continuing exploration activity, at the prolific, high grade gold project San Jose de Gracia, in Northern Sinaloa Mexico, through its 100% owned subsidiary in Mexico, DynaResource de Mexico SA de CV. (“DynaMéxico”).
DynaMéxico owns 100% of San Jose de Gracia (“SJG”), which is comprised of 33 mining concessions covering a total of 9,920 Hectares. DynaMéxico is continuing the development and definition of the world class, multi-million oz gold potential of SJG:
- Including the + 1 M gold oz. potential in near surface, bulk tonnage resources.
- Including the + 1 M gold oz. potential in underground resources.
- Including high gold grades at several resource areas.
DynaMéxico has reported revenues of +$120M USD since 2016, when DynaMéxico commenced test mining and milling activities at SJG with a $4M USD private funding. Since the startup in 2016, DynaMéxico has paid +$35M USD in project improvement and expansion costs and has increased volume of its test mining and milling activities by 500%.
At December 31, 2022, DynaMéxico reports the following resources at San Jose de Gracia (please note Technical Disclosure footnote below*).
- In CND NI 43-101 Technical Report and Resources Estimate dated December 31, 2012; DynaMéxico reported an underground resource of 1.150 M Oz Au as initially disclosed in a DynaResource Form 10-K filing dated April 12, 2013; and,
- The amount of material reported by DynaMéxico as test mined and milled, and the amount of gold oz. sold, through December 2022, as disclosed in the DynaResource Form 10-K filing dated April 17, 2023; and
- The amount of that underground resource remaining at December 31, 2022, as disclosed in the DynaResource Form 10-K filing dated April 17, 2023; and
- In updated resource estimate dated March 30, 2023; A near surface, bulk tonnage resource of + 1.05 M Oz. Au, as disclosed in the DynaResource Form 10-K filing dated April 17, 2023.
*Technical Disclosure: Please note the Technical Disclosure reported by DynaResource in its Form 10-K filing dated April 17, 2023.
At September 30, 2023, DynaResource reports fully diluted 27.5M Shares outstanding; including an Industry Partner as a major shareholder (Ocean Partners UK Limited), who acquired 1M Shares of DynaResource, Inc. for $5M USD in August 2023.
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 Gracía 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 DynaResource’s Annual Report on Form 10-K for the year ended December 31, 2022 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 more information regarding DynaResource, Inc. and San Jose de Gracia; please visit www.DynaResource.com.
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