Dynasty Announces Reliance on Financial Hardship Exemption in Respect of Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 30, 2016) - Further to its press release of August 16, 2016, Dynasty Metals & Mining Inc. ("Dynasty" or the "Company") (TSX:DMM)(OTCQX:DMMIF) would like to provide additional disclosure concerning elements of the proposed private placement (the "Private Placement") of common shares of the Company (each, a "Share") to Keith Piggott, Javier Reyes and Gregg Sedun (collectively, the "Lead Investors") as well as other investors (collectively, with the Lead Investors, the ("Investors"), which are required pursuant to the policies of the Toronto Stock Exchange (the "TSX") in connection with a financial hardship exemption, as follows:

• The subscription price of C$0.15 per Share is approximately a 12% discount to the market price of C$0.17 per Share based on the volume weighted average trading price of Shares on the TSX for the five trading days immediately prior to, and including, August 12, 2016 (being the date that the binding letter of intent was entered into between Dynasty and the Lead Investors).

• On the completion of the proposed Private Placement (the "Closing"), the Investors will receive such number of Shares, at an issue price of C$0.15 per Share, that results in aggregate gross proceeds of US$4.0 million to the Company.

• The approximate aggregate number of Shares issuable to the Investors and to companies managed by Robert Washer, Chief Executive Officer of the Company, in connection with the proposed Private Placement will be expressed in Canadian dollars in the definitive agreement and will be based on the Canadian/United States dollar noon exchange rate reported by the Bank of Canada as at the day immediately preceding the date of the definitive agreement or such other date that is acceptable to the Company and the Investors, subject to the approval of the TSX. Based on the Canadian/United States dollar noon exchange rate reported by the Bank of Canada on August 29, 2016, approximately 40,792,867 Shares will be issued to the Investors and to companies managed by Mr. Washer, which represents approximately 87.34% of the currently issued and outstanding Shares and approximately 46.62% of the expected issued and outstanding Shares on Closing (both, on a non-diluted basis).

• On Closing, companies managed by Mr. Washer are expected to hold approximately 19,189,588 Shares, which represents approximately 41.09% of the currently issued and outstanding Shares and approximately 21.93% of the expected issued and outstanding Shares on Closing (both, on a non-diluted basis), assuming and including the issue of the Shares upon the completion of the Private Placement and the issue of approximately 6,075,533 Shares (the "Shares for Debt Settlement") upon the conversion of approximately US$700,000 in debt owed to companies managed by Mr. Washer (for funds previously loaned to the Company) at the same price as the Private Placement as contemplated by the Company's press release of August 16, 2016. The Shares being issued in connection with the Shares for Debt Settlement represents approximately 13.01% of the currently issued and outstanding Shares (on a non-diluted basis).

Financial Hardship Exemption