Dynasty Metals Australia Limited (ASX:DMA) Quarterly Report For The Period Ending 30 September 2009

Sydney, Oct 30, 2009 AEST (ABN Newswire) - Dynasty Metals Australia Limited (ASX:DMA) this quarterly report is dated 30 October 2009 and is for the three months ending 30 September 2009.

Dynasty Metals Australia Ltd (Dynasty) is an Australian mining company that is listed on the Australian Securities Exchange with an ASX code DMA.

During the quarter, 8,000m of drilling on Dynasty's Pilbara Iron Ore projects at Warramboo, Prairie Downs commenced in late August and completed on the 26th

At Prairie Downs, drilling confirmed the presence of thick sequences of Marra Mamba Formation in the Marra Mamba Prospect, Detrital Channel Iron and Channel Iron Deposits in the Spearhole Prospect and the Northern Channel Prospect, which are all consistent with geological models October 2009

Assay results from the Marra Mamba Prospect reported during the quarter show the presence of DSO grade material. Analysis of the Channel Iron drill cuttings is in progress

At Prairie Downs there are substantial near-surface contiguous deposits representing several hundred million tonnes and containing concentrations of iron which may be beneficiated to competitive market grades with very low phosphorous and easy mining conditions

The assay results will be interpreted when received and further exploration at Prairie Downs during the 2009/2010 season will be designed to gain a more detailed understanding of these prospects and the potential for development

Exploration at Prairie Downs included collection of bulk samples from the substantial iron rich basal conglomerate with haematite clasts, referred to as the Homestead Prospect

Warramboo results proved as expected, the presence of Channel Iron Deposits and further follow-up work is planned for the 2009/2010 season

At a corporate level, Directors visited China and attended the two important mining conferences the 9th China International Steel and Raw Materials Conference in Qingdao City during 15th - 17th October http://www.ironoreconference.com and the 11th China Mining Conference in Tianjin City during 20th -22nd October http://www.chinaminingtj.org during which Dynasty received strong interest from various steel mills and mining giants for its iron ore projects

CORPORATE

Cash Position at 30 September 2009: A$2,749,000

Capital Structure

Quoted shares: 65,591,312

Quoted options:

- 20,917,029 exercisable at A$0.35 expiring 28 February 2010

Unlisted options:

- 500,000 exercisable at A$0.30 expiring 31 December 2009

- 3,490,000 exercisable at A$0.20 expiring 30 November 2009

- 500,000 exercisable at A$0.20 expiring 1 September 2010

For the complete Dynasty Metals Quarterly Report for the period ending 30 September 2009, please click the link below:

http://www.abnnewswire.net/media/en/docs/61669-ASX-DMA-466951.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