Dynasty Metals Australia Limited (ASX:DMA) Announces A$2.1 Million Share Placement

Sydney, April 1, 2010 AEST (ABN Newswire) - Dynasty Metals Australia Limited (ASX:DMA) ("Dynasty") is pleased to announce that it has raised A$2.1M through the issue of 10,000,000 new ordinary shares in the company placed to sophisticated investors at an issue price of A$0.21 per share. Patersons acted as Lead Manager to the Placement.

The funds raised are to be dedicated to accelerating the further evaluation of Dynasty's Prairie Downs Iron Ore Project in the Pilbara Region of Western Australia. The funds will be used on exploration drilling, the determination of beneficiation methods and costs and the investigation of transport and shipping options with a view to establishing the commercial basis for a feasible project development.

Following completion of the share placement, Dynasty will have 77,681,312 shares on issue.

Contact

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