Dynasty Metals Australia Limited (ASX:DMA) Assay Results Confirm Continuation Of High Grade Iron Ore Mineralisation At Pilbara Marra Mamba Prospect

Sydney, Oct 15, 2009 AEST (ABN Newswire) - Dynasty Metals Australia Limited (ASX:DMA) Results have been received from the remainder of the Stage 1 Reverse Circulation (RC) drill holes, MMRC008 to 15 that were targeted to test for Marra Mamba Formation on Prairie Downs Tenement (EL52/1927). These results confirm that all intercepts of Marra Mamba Iron Formation to date have been iron-rich and low in phosphorous, typically 0.04% to 0.07% P.

The results demonstrate and confirm Dynasty's early exploration success with respect to confirming the presence of strongly mineralised sections of the important Marra Mamba Iron Formation and provide confidence for future exploration.

Holes MMRC001, 02, 08 & 14 were designed to define the Eastern contact of the relatively flat lying Marra Mamba Formation and drilled into basement rocks. The remaining 11 of the 15 holes intersected substantial thicknesses of iron formation.

Holes MMRC001 to MMRC015 were vertical holes drilled on a 200m X 100m grid and confirmed the thicknesses and grades of iron mineralisation from this wide spaced drilling.

Future Exploration

Marra Mamba & Brockman Iron Formations: Several follow-up confirmation holes are planned on the Marra Mamba prospect on completion of the current Stage 1 drilling program on the Detrital / Channel Iron prospects. These follow-up holes will help to both define the Marra Mamba Prospect and to finalise the planning of the next phase of exploration for possible unrecognised Brockman and Marra Mamba Iron Formations in Dynasty's tenements.

Geophysical information will also be tested and then used to support the targeting concepts.

Channel-Detrital Iron Deposits (CID & DID): In addition to Marra Mamba targets, Dynasty will soon complete its drilling program of nearly 200 RC drill holes, mostly on a 400 X 200m and 400 X 100m grid, testing the Northern Channel Iron Prospect and the Spearhole Prospect.

To date, drilling has intersected several Tertiary Channels (CID) which were based on subcrop of Channel Iron and a very large area of younger, Detrital Channel Iron (DID) with thicknesses from surface ranging from 15 to 35m. The DID deposit appears to be thickening to the east and south east along the Spearhole drainage system.

Iron Conglomerate Deposits: In addition to the Marra Mamba, Tertiary Channel Iron and Detrital Channel Iron targets, Dynasty's technical team has collected several 40kg samples from an ancient and vast coarse boulder "basal hematite-clast conglomerate" which is located on the margin between the Bangemall and Hamersley basin. The basal conglomerate, referred to as the Homestead Prospect, covers an area within Dynasty's tenements of >100km2 and is estimated from field observations to be possibly up to 40m thick in places. On the north and western contact at the intersection of regional north east and north west trending faults large hematite clasts (presumably derived from the Hamersley Basin) within a heavily feruginised matrix have been observed.

Dynasty's extensive Prairie Downs Tenement holding is located in the heart of the Pilbara to the west of BHPB's massive mining operation at Mt Whaleback near to the township of Mt Newman, south of the massive CID deposits at Yandicoogina, east of West Angeles and south east of UMC's Pilbara Iron Project.

TABLE 1: Key Results Summarised-----------------------------------------------------------Hole  IntersectionMMRC     Length     Fe%   CaFe1%   Including   Fe%   CaFe1%-----------------------------------------------------------003*   27 metres   53.1%   58.7%   10 metres  52.0%   59.0%                                  & 7 metres  58.5%   64.2%004*   58 metres   56.2%   61.3%   11 metres  60.5%   65.5%                                 & 24 metres  59.1%   64.1%005*   56 metres   50.5%   55.1%   41 metres  54.0%   58.9%006     6 metres   58.0%   61.8%007*   42 metres   54.7%   60.5%   18 metres  57.2%   63.0%009    14 metres   50.9%   54.8%010    47 metres   54.1%   58.9%   33 metres  56.3%   61.1%011    60 metres   50.1%   55.1%   43 metres  51.9%   57.4%012    10 metres   52.8%   57.5%015    43 metres   50.9%   55.2%   14 metres  59.5%   64.0%-----------------------------------------------------------

* Previously reported results 1 CaFe = "calcined or LOI-free grades" calculated as (Fe*100)/(100-LOI)

For the complete Dynasty Metals ASX Announcement, please click the link below:

http://www.abnnewswire.net/media/en/docs/61590-ASX-DMA-464048.pdf

Contact

Malcolm Carson Executive Technical Director Tel: +61-2-9229-2702 Lewis Tay Executive Director Tel: +61-2-9229-2710 Ian Levy Chairman Tel: +61-2-9229-2704