Dynacor Declares August 2023 Dividend

Dynacor Group Inc. (TSX: DNG) (Dynacor or the Corporation) announced its monthly dividend for August 2023. The declaration of a dividend payment of C$0.01 per common share will be payable on August 17, 2023, to shareholders of record as of the close of business on August 10, 2023. This dividend represents the forty-first (41^st) dividend and thirty-first (31^st) monthly payment made to shareholders.

The Corporation's monthly dividend qualifies as an "eligible dividend" for Canadian income tax purposes.

The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation's financial results, cash requirements, prospects and other factors deemed relevant by the Board.

Annual Meeting Voting Results

Dynacor further announces the voting results at the shareholders' meeting which was held on June 20^th, 2023.

1. Election of Directors

2. Appointment of Raymond Chabot Grant Thornton LLP, chartered professional accountants, as auditors of Dynacor Group Inc.

Raymond Chabot Grant Thornton LLP, chartered professional accountants, were appointed auditors of Dynacor Group Inc. for the current year and the directors were authorized to fix their remuneration, by show of hands.

3. Amendments to the stock option plan of Dynacor Group Inc.

The amendments to the stock option plan of Dynacor Group Inc. to introduce a cashless exercise mechanism and a net exercise mechanism for the options and to remove a reference to the addition of a cashless exercise feature from the section to the amendment to the stock option plan was approved by a show of hands.

ABOUT DYNACOR

Dynacor is a dividend-paying industrial gold ore processor headquartered in Montreal, Canada. The corporation is engaged in gold production through the processing of ore purchased from the ASM (artisanal and small-scale mining) industry. At present, Dynacor operates in Peru, where its management and processing teams have decades of experience working with ASM miners. It also owns a gold exploration property (Tumipampa) in the Apurimac department.

The corporation intends to expand its processing operations in other jurisdictions as well.

Dynacor produces environmental and socially responsible gold through its PX IMPACT® gold program. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium to our customer and strategic partner for this PX IMPACT® gold. The premium provides direct investment to develop health and education projects for our artisanal and small-scale miner's communities.

Dynacor is listed on the Toronto Stock Exchange (DNG).

FORWARD-LOOKING INFORMATION

Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release.

Shares Outstanding: 38,344,998

Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold

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For more information, please contact:
Dale Nejmeldeen
Director, Shareholder Relations
(514) 393 9000 Ext.: 230
investors@dynacor.com