Dynasty Gold Corporation"s first drill program at the Red Valley project in China has intersected gold mineralization in several holes, including 8 metres @ 4.19 grams per tonne gold; 3 metres @ 9.96 grams per tonne gold with 1 metre @ 25.85 gram per tonne gold and 12 metres @ 1.33 grams per tonne gold; also a third hole has netted 7 metres @ 1.91 grams per tonne gold.

Dynasty president ad CEO Brian McEwan says the target area on the Red Valley property is large.

"We are pleased and encouraged to have hit mineralization in these first holes," he says.

"We look forward to getting more results and focusing in on the core of what we believe could be a sizeable gold system."

The Red Valley project is situated within the Qilian fold belt, a north west-south east trending assemblage of late Proterozoic to Ordovician aged sediments and volcanics. Major structural trends within the region are north west-south east with less topographically pronounced east west and north east trending cross structures.

Dynasty's previous exploration work identified a zone of surface alteration stretching for nearly 23km with anomalous gold, arsenic, antimony and mercury surface samples. Within this zone there are two main prospects, named Red Valley and Chuancigou.

The 2006 exploration program at Red Valley is funded by AngloGold Ashanti through an equity financing completed in April.

The first diamond drill program at the property focused on the Red Valley and Chuancigou prospects, where Dynasty and its exploration partners have completed 30 diamond drill holes for a total of approximately 4500 metres of drilling.

In addition to drilling, the program has included surface exploration, ground magnetic and IP geophysical surveys. A compilation of previous data and 2006 surface and geophysical data identifies coincident anomalies in all results, strengthening the company's belief in the potential for the Red Valley project to host a significant gold system.

Dynasty Gold Corp is a leading Canadian gold exploration company in  China with three highly prospective gold properties currently being  explored through partnerships with AngloGold Ashanti and Avocet Mining.

Dynasty's Hatu property hosts a NI 43-101 compliant inferred gold resource of 912,600 ounces including 16.9 million tonnes at 1.68 grams per tonne gold, with a 1.0 gram per tonne gold cut-off.