Dynasty Metals Australia Limited (ASX:DMA) Identifies Direct Shipping Iron Ore Targets In Pilbara

Sydney, Nov 16, 2010 AEST (ABN Newswire) - Iron ore company Dynasty Metals Australia Limited (ASX:DMA) today announced the results of regional geophysics and regional mapping to the south west of its 1.4 billion tonne Spearhole Iron Deposit.

Iron Gravel Potential

Interpretation of the geophysical results suggest the presence of two sub-parallel north east to south west trending structures which may have had a significant influence on the formation of massive iron gravels in the Spearhole deposit and elsewhere on the tenement.

Iron Formation Potential

Figure 1 (see link at the bottom of the release) also illustrates target areas which are considered to be prospective for hidden Brockman or Marra Mamba hematite iron deposits and additional detrital ironstone gravel deposits which have been defined from the interpretation of the magnetic data and regional geological mapping.

Channel Iron Potential

During the first quarter 2011, geological mapping traverses will be undertaken to define drill sites in the target areas. In addition, Dynasty's geologists will investigate the tenements further to south to establish the area's prospectivity for the channel iron deposits reported to exist in that area.

Basal Iron Conglomerate Potential

Dynasty is making preparations to test a large basal iron conglomerate deposit in 2011. Surface sampling has returned high iron grades in places.

Dynasty is encouraged by the early stage reconnaissance exploration at Prairie Downs to date. The Company is optimistic that exploration will define additional iron ore deposits that will be suitable for blending with the vast Spearhole detrital ironstone gravel deposit.

Overview of the Spearhole Prospect, Prairie Downs Project

The Prairie Downs tenements (~4,000 km2) are located to the west, south-west and south of Mt Newman. Dynasty's drilling to date has focused on the Spearhole Prospect in the northern part of E52/1927, covering only a small portion of the Prairie Downs tenements.

During the second half of 2009, a 300 hole (9,979m) reconnaissance drilling program was carried out at the Spearhole Prospect for a cost of A$1.2 million.

In March 2010, Dynasty announced the maiden JORC-Compliant Inferred Resources for the Prairie Downs Project totalling 453 million tones.

A A$2.5 million exploration program commenced in May 2010. Drilling completed during 2010 has comprised 9,377m of RC drilling and 1,085m of sonic drilling.

At the Spearhole Prospect, the 2010 RC drilling program has:

- tested "extension" areas to the south and southeast of established resource;

- tripled the Inferred Resource to 1.4 billion tonnes; and

- twinned Sonic drilling holes allowing tight control on the beneficiation results

On 27 October 2010, Dynasty announced a 1.4 billion tonne JORC Compliant Resource including 932 million tonnes at 27.4% Fe at a cut-off grade of 20% Fe for the Company's Spearhole Detrital Channel Iron deposit.

For the complete Dynasty announcement including figures, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/64186-ASX-DMA-515411.pdf

Contact

Malcolm Carson Executive Director - Technical Dynasty Metals Australia Limited Tel:+61-2-9229-2704 Lewis Tay Executive Director Dynasty Metals Australia Limited Tel:+61-2-9229-2710 (Chinese) http://www.dynastymetals.com.au