Dynasty Gold has withdrawn from the Red Valley Gold project in the Qinghai Province of China.

The decision was made following the withdrawal of the company’s funding partner, AngloGold Ashanti, and was based on results of the 2007 drilling programme.

Dynasty’s interim president and CEO Ivy Chong says: "We have determined that it is in the best interests of the company and our shareholders to withdraw from the Red Valley project at this time.

"This will free up valuable assets and allow the company to focus its resources on new projects. We are grateful to our partners for their continued support."

As per the Escrow Agreement dated December 1, 2005, the company’s withdrawal from the project resulted in a cancellation of 3,494,446 escrowed shares, which will be returned to the company’s treasury.

The company is evaluating a number of gold exploration projects presented by its Qinghai joint venture partner.

Dynasty Gold is a Canadian gold exploration company operating in China with a defined gold resource and exploration programs at prospective gold properties in the north-west of China, including the Qi-2 deposit in the Hatu Project.

www.dynastygoldcorp.com