DYNACOR SIGNS AN OFFTAKE AGREEMENT WITH OSRAM SYLVANIA Montreal, Quebec, October 2, 2006 - Dynacor (TSX-V: DYN) is pleased to announce that it has signed an offtake agreement with OSRAM SYLVANIA for up to 100 percent of projected annual average tungsten concentrate production on the Pasto Bueno tungsten mine in Peru. Under the contract, OSRAM SYLVANIA agrees to purchase yearly up to 150,000 metric tonne units ("MTU") of tungsten (WO3) production from Dynacor's 100 percent owned Pasto Bueno tungsten project in northern Peru. The contract includes a floor price and covers the three years of projected tungsten concentrate production at Pasto Bueno. The contract also provides adjusted pricing based on market conditions and subject to certain conditions, on tungsten purchased under the agreement. Dynacor will have the right to sell to the market any remaining tungsten production not purchased by OSRAM SYLVANIA. Pricing will remain confidential for commercial reasons. Prices will be calculated by a formula as one element using the monthly average APT European free market price per MTU as published by London's Metal Bulletin. APT is the most widely traded intermediate tungsten product, making it an appropriate benchmark on which to base pricing of Pasto Bueno's tungsten concentrate.
About Dynacor Mines Inc.
Dynacor Mines Inc. is a mining company that has been active for over 10 years in Peru. With and excellent network of business relationships, Dynacor favours targeted acquisitions and valorization of its exploration projects in Peru. About Osram Sylvania
OSRAM SYLVANIA is a leader in lighting solutions and specialty products that feature innovative design and energy saving technology. The company sells products for homes, businesses and vehicles primarily under the SYLVANIA brand name, and also under the OSRAM brand. Headquartered in Danvers, Mass., OSRAM SYLVANIA is the North American operation of OSRAM GmbH, a wholly owned subsidiary of Siemens AG. For more information, visit www.sylvania.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For more information, please contact:
Marc Blais, President Jean Martineau, Chairman of the Board
Dynacor Mines Inc. Dynacor Mines Inc.
450-667-3224 450-667-3224 Renmark Financial Communications Inc.
Jason Roy: jroy@renmarkfinancial.com
Ricardo Vallejos : rvallejos@renmarkfinancial.com
Media: Lynda Martineau: lmartineau@renmarkfinancial.com
Tel.: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
About Dynacor Mines Inc.
Dynacor Mines Inc. is a mining company that has been active for over 10 years in Peru. With and excellent network of business relationships, Dynacor favours targeted acquisitions and valorization of its exploration projects in Peru. About Osram Sylvania
OSRAM SYLVANIA is a leader in lighting solutions and specialty products that feature innovative design and energy saving technology. The company sells products for homes, businesses and vehicles primarily under the SYLVANIA brand name, and also under the OSRAM brand. Headquartered in Danvers, Mass., OSRAM SYLVANIA is the North American operation of OSRAM GmbH, a wholly owned subsidiary of Siemens AG. For more information, visit www.sylvania.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For more information, please contact:
Marc Blais, President Jean Martineau, Chairman of the Board
Dynacor Mines Inc. Dynacor Mines Inc.
450-667-3224 450-667-3224 Renmark Financial Communications Inc.
Jason Roy: jroy@renmarkfinancial.com
Ricardo Vallejos : rvallejos@renmarkfinancial.com
Media: Lynda Martineau: lmartineau@renmarkfinancial.com
Tel.: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
