MONTREAL, March 11, 2026 (GLOBE NEWSWIRE) — Dynacor Group Inc. (TSX: DNG) (“Dynacor“ or the “Corporation“) is pleased to provide a progress update on construction and upgrade activities at its Senegal and Ecuador plants. Both plants are on track to process first ore in 2026.
Expansion Update
- Senegal – Site work and shipments continue on schedule for first ore in Q2-2026.
- Ecuador – Integration continues with major plant contracts awarded. First ore in Q4-2026.
- Ghana – Discussions with Ghana’s GoldBod are advancing.
Senegal
- Work on the pilot plant is advancing on schedule with site work continuing in tandem with shipments on site. Deliveries of the modular plant made so far on site include the Merrill Crowe circuit, jaw crusher, leaching tanks, offices and laboratory. All remaining equipment is either in Dakar or in transit to it.
- Site preparations to host the plant are progressing to plan. Work includes the concrete foundation pour, tailings pond cells, fencing and the access road. The water borehole to supply the plant has been completed. Building on its multi-year discussions with key players, the Corporation is in pricing discussions with local artisanal sites to supply the small ore feedstock needed for the pilot plant. Processing of first ore remains on track for Q2-2026.
- In parallel, Dynacor has been building visibility in the immediate communities through small, initial community initiatives. These include signing of a partnership agreement between Galam S.A., Dynacor’s subsidiary in Senegal, and a local technical, industrial and mining high school with an aim of creating internship opportunities for local youth and fostering local wealth creation; upgrade of a local road; and donation of school supplies.
Ecuador
- The Corporation continues its integration of the Svetlana plant on multiple fronts:
- Process plant – The Engineering, Procurement and Construction Management (EPCM) contract has been awarded for the upgrade of the tailing ponds. Dynacor’s self-performing project team is already on site, which will favour local Ecuador suppliers. The main Requests for Quotation (RFQs) are being prepared for the critical path activities.
- Dynacor’s subsidiary in Ecuador has been set up and named Sumacor-EC, recruitment of key personnel has begun, and first operational hires are already on site.
- As part of its commitment to responsible milling, Dynacor has repurposed on-site waste through its delivery to authorised third-party recycling companies.
- In coordination with local authorities, the Corporation has begun providing as-needed support to local communities in order to build local capacity. This includes promotion of employment for single mothers, training in solid waste management, and improvement of road infrastructure. The 2026 program will include a data collection campaign to improve the quality of socioeconomic information for the host communities.
Ghana
- Discussions are deepening with Ghana’s GoldBod regarding Dynacor’s proposal for the structure of its potential operations in Ghana. The Corporation is optimistic that an agreement with GoldBod can be struck that will generate long-term value for all stakeholders.
Figure 1: March 2026 overview of pilot plant site in Senegal.
Figure 2: Donation of Christmas baskets to families from Svetlana communities in Ecuador.
About Dynacor
Dynacor Group is an ore processing company dedicated to producing gold sourced from artisanal miners. Since its establishment in 1996, Dynacor has pioneered a responsible mineral supply chain with stringent traceability and audit standards for the fast-growing artisanal mining industry. By focusing on formalized miners, the Canadian company offers a win-win approach for governments and miners globally. Dynacor operates the Veta Dorada plant and owns a gold exploration property in Peru. The company is expanding to West Africa and within Latin America.
The premium paid by luxury jewellers for Dynacor’s PX Impact® gold goes to Fidamar Foundation, an NGO that mainly invests in health and education projects for artisanal mining communities in Peru. Visit www.dynacor.com for more information.
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.
Contact:
For more information, please contact:
Ruth Hanna
Director, Investor Relations
T: 514-393-9000 #236
E: [email protected]
Website: dynacor.com
Renmark Financial Communications Inc.
Bettina Filippone
T: (416) 644-2020 or (212) 812-7680
E: [email protected]
Website: renmarkfinancial.com
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c891ec6a-825c-42dc-adec-6cafb6b2b474
https://www.globenewswire.com/NewsRoom/AttachmentNg/ca8d8a5c-9cae-460f-a698-1a3acb6bf95f
