Dynasty Metals Australia Limited (ASX:DMA) Signed Farm-out Agreement For Non-core Base Metal Tenements

Sydney, May 13, 2011 AEST (ABN Newswire) - Dynasty Metals Australia Limited (ASX:DMA) is pleased to advice it has taken the next steps on its path to focus on its Pilbara iron ore tenements by agreeing a farm-out of its non-core base metal tenements (other than the Irwin River coal seam gas tenements) with China Coal Geology Engineering Corporation ("CCGEC").

Under the agreement with CCGEC and its associates, Dynasty will transfer its non-core base metal tenements into a separate legal entity and CCGEC will invest A$2m for a 60% equity interest, with the option of increasing this interest by 20% by investing a further A$750,000 within a three year period.

The deal is subject to legal and regulatory approvals.

Contact

Richard Oh CA MAICD Executive Chairman Dynasty Metals Australia Limited Tel: +61-2-9229-2710 Fax: +61-8-9322-7211 Email: admin@dynastymetals.com.au http://www.dynastymetals.com.au