DynaResource Announces Offtake Extension, Credit Line Expansion and Private Placement

Extension of Commercial Offtake Agreement through December 2028; Ocean Partners to extend a $4M Temporary Additional Credit Line and to increase Revolving Credit Line to $12.5M, following certain conditions; Major Shareholder Golden Post LLC to purchase $2.5M Shares of Common Stock of DynaResource Inc. at $1.61 per share.

IRVING, June 7, 2024 - DYNR-DynaResource Inc. (OTCQX:DYNR) ("DynaResource", or "the Company") is pleased to report the following update regarding the Company and its 100%-owned San Jose de Gracia high grade gold project in Sinaloa, México ("SJG"). All figures in United States Dollars ("USD").

• Ocean Partners UK Limited ("Ocean Partners"), through its 100% owned subsidiary in Mexico - MK Metals Trading Mexico S.A. de CV ("MK"), and the Company have formalized the extension of their commercial offtake agreement through December 31, 2028, and with revision of terms as per below:
  • Ocean Partners agreed to provide a Temporary Additional Credit Line ("TACL") of $4M, payable November 30, 2024;
  • Ocean Partners agreed to increase the Revolving Credit Line ("RCL) from $10M to $12.5M after November 30, 2024 and following the repayment of the TACL and RCL;
  • Ocean Partners to provide the Company a Put Option to convert up to $9M of the Revolving Credit Line into Common Stock at a price expected to be approximately $1.61 per share, exercisable between November 1 and 30, 2024.
• The Company has agreed to issue 1,552,795 shares of Common Stock to Golden Post Rail LLC ("Golden Post") in exchange for $2.5M USD. The Company plans to utilize the funds received from Ocean Partners and Golden Post to further expand and increase mining and milling activities at SJG, to expand the tailings storage facility, to continue exploration drilling and related exploration activities, and for general corporate purposes.

"We are pleased to receive this strong level of support from key stakeholders being Ocean Partners, our offtake partner, and Golden Post, our largest shareholder," stated Rohan Hazelton, President & CEO DynaResource. "These funds are an endorsement of our business plans to optimize operations and increase shareholder value."

On behalf of Ocean Partners, Brent Omland, co-CEO of Ocean Partners commented: "We are very pleased to expand our strong relationship with DynaResource and are excited to be a part of the continuing development and expansion of the world class SJG Project."

On behalf of the Board of Directors of DynaResource Inc. Rohan Hazelton President & Chief Executive Officer

About DynaResource DynaResource is a junior gold mining producer trading on the OTCQX under the symbol "DYNR". DynaResource is actively mining and expanding the historic San Jose de Gracia gold mining district in Sinaloa, Mexico.

IMPORTANT CAUTIONARY NOTE REGARDING CANADIAN DISCLOSURE STANDARDS
The Company is an "OTC Reporting Issuer" as that term is defined in Multilateral Instrument 51-509, Issuers Quoted in the U.S. Over-the-Counter Markets, promulgated by various Canadian Provincial Securities Commissions. Accordingly, certain disclosure in this news release or other disclosure provided by the Company has been prepared in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws. In Canada, an issuer is required to provide technical information with respect to PL 4332389.2 mineralization, including reserves and resources, if any, on its mineral exploration properties in accordance with Canadian requirements, which differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC") applicable to registration statements and reports filed by United States companies pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. As such, information contained in this news release or other disclosure provided by the Company concerning descriptions of mineralization under Canadian standards may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC and not subject to Canadian securities legislation. This news release or other disclosure provided by the Company may use the terms "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves. In addition, "inferred mineral resources" have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, although they may form, in certain circumstances, the basis of a "preliminary economic assessment" as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed "forward-looking". All statements in this news release, other than statements of historical fact, that address events or developments that DynaResource expects to occur, are "forward-looking information". These statements relate to future events or future performance and reflect the Company's expectations regarding the future growth, results of operations, business prospects and opportunities of DynaResource. These forward-looking statements reflect the Company's current internal projections, expectations or beliefs PL 4332389.2 and are based on information currently available to DynaResource. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the Company's plans at the San Jose de Gràcia property. Many of these assumptions are based on factors and events that are not within the control of DynaResource and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and México; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaResource currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaResource does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the Annual Report for DynaResource available at www.sec.gov. Forward-looking information is not a guarantee of future performance and actual results, and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although DynaResource believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. DynaResource expressly disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, events or otherwise.

For Information on DynaUSA and DynaMéxico, please visit www.dynaresource.com, or contact:

Brad J. Saulter, DynaUSA V.P. - Investor Relations: 972-996-7417; General
Inquiries: 972-869-9400
Rohan Hazelton, DynaUSA - President & CEO

Contact Information
Brad J. Saulter
DynaUSA V.P. - Investor Relations
972-869-9400

SOURCE: DynaResource Inc.

View the original press release on newswire.com.