Dynasty Gold Corp. reported that it has received final assay results from the summer field program at its 100% owned Thundercloud gold project located approximately 47 km southwest of Dryden, Ontario. The work consisted of grab and channel sampling in and around two trenches excavated based on soil geochemical anomalies related to the West Contact Zone mineralized area at Thundercloud.

The Contact Zone has only been partially explored in the past. The majority of work on the Property has been done on the Pelham Zone to the north, on which a NI 43-101 compliant resource calculation is completed and the report will be available before the year end. The program focused on trenching in the West Contact Zone and approximately 100 lineal meters of trenching was completed in two target areas.

Chip samples were taken along 1 meter intervals in a strongly altered and mineralized conglomeratic sedimentary unit in contact with a younger Thundercloud quartz-feldspar porphyry. Trench-1 expanded upon a trench completed by Teck Resources Limited in 2007, exposing "Timiskaming-like" Archean metasediments composed of pebble to cobble conglomerate and siltstone beds. The metasediments were intruded by porphyry dykes of the Thundercloud quartz- feldspar porphyry stock and are pervasively altered to strong biotite and weak chlorite-bearing mineral assemblages.

The altered sediments are host to 1-3% fine disseminated pyrite with elevated gold values encountered where pyrite becomes coarser-grained and coalesces into blebs and discontinuous hairline stringers. Trench-1 is approximately 80 meters long and it is the longer of the two trenches. Channel samples in one continuous zone of 7 meters averaged 2.0 grams per tonne gold in conglomerate, with one meter samples in this 7 meter interval carrying between 0.82 and 3.9 grams per tonne gold.

Elsewhere in the trench, individual chip samples of note carried from 0.37 up to 1.75 grams per tonne gold. A grab sample of highly altered pebble conglomerate taken adjacent to the contact with a quartz-feldspar porphyry dyke returned 7.04 grams per tonne gold. This sample contains 2-3% fine-grained disseminated pyrite and several percent secondary biotite which is the most common alteration mineral at Thundercloud.

Trench-2, located four hundred meters south of Trench-1, was designed to test the southern strike continuity of the West Contact mineralization. Excessive overburden depth precluded determining the nature of the bedrock at this location. The new assay results confirm that other areas within the West Contact Zone host significant gold values and form the basis for new exploration work.

The new assay results indicate that the West Contact Zone now merits a thorough evaluation going forward. Gold analyses, locally reaching multi-gram values in altered sediments in close proximity to the cross-cutting Thundercloud Porphyry Intrusives, provide guidelines for prioritizing additional surface sampling and geophysical surveys. There are several other highly anomalous soil geochemical results requiring trenching in the future.

The West Contact mineralization is clearly structurally and mineralogically separate from the Pelham Zone to the north and merits significant additional work. Due to the Ontario wildfire emergency work ban in the summer and longer than expected laboratory time, work required to follow up the initial trenching results was not possible prior to the onset of winter conditions in 2021, the work will be deferred to next season. An expanded high-resolution drone supported airborne magnetic survey is planned for completion in the winter of 2021/2022.

This survey will cover a larger area to include the northeast portion of the Thundercloud Porphyry Intrusive where the gabbro hosted mineralization in the Pelham Zone was discovered. The survey data is expected to assist in interpreting the structural relationship between the Pelham Zone and West Contact Zone mineralization. The initial trenching assay data has provided a greater understanding of the structure and mineralization in the West Contact Zone.

This knowledge will be applied to plan the next season's exploration program. Planning to drill the Pelham Gold Zone is underway. The drill program is expected to test for down plunge mineralization to increase tonnage and grade.