Dynacor: Corporate Presentation April 2013

APRIL, 2013 TSX:DNG

US:DNGDF

DISCLAIMER: FORWARD LOOKING

STATEMENTS

This presentation contains certain forward-looking statements regarding operational information, future exploration and development plans and anticipated future production. Words such as, potential”, “building” “inferred”, “if”, “will”, “expect”, “forecast”, “estimate”, “consider”, “may”, “possible” and similar expressions have been used to identify these forward-looking statements. These statements are management’s current beliefs and are based on information currently available to management. Forward-looking statements involve significant risk and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including, but not limited to, changes in general economic, political and market conditions and other risk factors. Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, management cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place under reliance forward-looking statements. Forward-looking statements and other information contained herein concerning the metals and mining industry and Dynacor’s general expectations concerning the industry are based on estimates prepared by management using data from publicly available industry sources as well as from private sources, industry analysis and on assumptions based on data and knowledge of the this industry which the Company believes to be reasonable. However, this data is inherently imprecise. While Dynacor is not aware of any misstatements regarding any industry data presented herein, the industry involves risks and uncertainties and is subject to change based on various factors. There is no certainty the projections will be met.

A NON-DILUTIVE GOLD COMPANY 2

A Non-Dilutive

Gold Company

Exploration

Auto

financed

Profitable

Dynacor is an industrialized-type gold company with a low risk business model. GOLD PRODUCTION: Dynacor’s gold ore-processing division, located in Peru, generates steady cash flow and profits while reducing risk. HOW? • Cash flow pays for exploration and all

other costs; • Avoids shareholder dilution; • Net earnings of USD $7.7 M

($0.22 per share) in 2012. EXPLORATION Dynacor has a $2.8 M drilling and cross-cut campaign underway on its flagship copper and gold exploration property, Tumipampa, surrounded by senior mining companies developing large scale skarn/porphyry copper/gold mines.


5,179 7,292

10,576 10,478 9,926 11,808 11,134

13,157 13,101 12,392

17,168 18,603

20,027

25,100

32,500/QTR 130,000/YR

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

Go

ld P

rod

uct

ion

(ou

nce

s)

• Q2-2014 forecast: based on 450 TPD | gold grades of 0.70 ounce/tonne | 340 working days | 94% recovery • Q4-2014 forecast: based on 600 TPD | gold grades of 0.70 ounce/tonne | 340 working days | 94% recovery

WHY INVEST IN DYNACOR NOW? QUARTERLY GOLD PRODUCTION FORECAST


0.90 0.88 0.78 0.85 0.73 0.75 0.79 0.82 0.93 1.03

0.00

0.50

1.00

1.50

Q3-2010 Q4-2010 Q1-2011 Q2-2011 Q3-2011 Q4-2011 Q1-2012 Q2-2012 Q3-2012 Q4-2012

Go

ld G

rad

e (O

un

ce/T

on

ne)

Dynacor's Quarterly Average Gold Grade Processed (Ounce/Tonne)

Anticipating profits/oz to rise with new mill: a. Converting to national power

lowers cost to ($0.08/kw from $0.25/kw)

b. Receive larger haul shipments (lower transportation costs)

c. Brand new machinery/equipment (improves operating efficiency)

Averaging a gross profit per ounce of approximately

$300


31

37 35

19 15

11 10 10 6 6 7 5 6 6 5 5 5 3 3 4 5 6 7 6 7 6 5 4

0

5

10

15

20

25

30

35

40

Pri

ce /

Cas

h F

low

Ra

tio

Jan-11

Feb-11

Mar-11

Apr-11

May-11

Jun-11

Jul-11

Aug-11

Sep-11

Oct-11

Nov-11

Dec-11

Jan-12

Feb-12

Mar-12

Apr-12

May-12

Jun-12

Jul-12

Aug-12

Sep-12

Oct-12

Nov-12

Dec-12

Jan-13

Feb-13

Mar-13

Apr-13

Avg. Monthly Price 1.57 1.86 1.74 1.69 1.37 1.13 0.97 0.95 0.80 0.76 0.89 0.70 0.81 0.78 0.73 0.68 0.64 0.52 0.53 0.66 0.85 1.06 1.18 1.24 1.50 1.30 1.16 1.04

Cash Flow/Share (TTM) 0.05 0.05 0.05 0.09 0.09 0.10 0.10 0.10 0.13 0.13 0.13 0.14 0.14 0.14 0.14 0.13 0.13 0.17 0.17 0.17 0.17 0.17 0.17 0.22 0.22 0.22 0.22 0.26

Price to Cash Flow/Share 31 37 35 19 15 11 10 10 6 6 7 5 6 6 5 5 5 3 3 4 5 6 7 6 7 6 5 4

Dynacor Gold Mines 2 Year Price/Cash Flow

WHY INVEST IN DYNACOR NOW? GROWING CASH FLOW/SHARE

Dynacor’s average P/CF over the last two years is 10 times.

The company is trading at 4.0 times cash flow per share ($0.26 Cash Flow Per Share in 2012). With or without a BULL market in the

juniors, Dynacor’s cash flow per share will continue to grow…

Bull market in the juniors Sabretooth Hedge

Fund forced to liquidate assets and

is out of business

MARKET IS “SHAKING THE TREE”

http://www.marketwire.com/press-release/dynacor-announces-total-sales-105-million-net-income-us77-million-022-per-share-fiscal-tsx-dng-1773277.htm




WHY INVEST IN DYNACOR NOW? ONE BIG DIFFERENCE FROM 2012

Acari: Gold/silver ore processing plant with a capacity of 220 tpd Chala: New mill planned with initial capacity of 300 tpd and readily expandable to 600 tpd 2012: Gold Production of 61,274 ounces averaging 213.79 tpd at 0.901 ounce/tonne

Tumipampa:

Flagship Exploration Property- Identified Au/Cu skarn/porphyry

deposit (4km long) located on

the same fault and flanked by two giant world class skarns :

• Los Chancas (355 million tonnes at 0.62% Cu, 0.05%

Mo and 0.039 g/t Au) (Southern Copper)

• Las Bambas (1.710 billion

tonnes at 0.61% Cu and 0.02 %/t Mo, 0.11g/ Au) (Xstrata)

PERU

CASADEN (Au)

ACARI PLANT (Au)

TUMIPAMPA (Cu/Au)

Los Chancas (Southern Copper) (Cu/Au ) Las Bambas

(Xstrata) (Cu/Au)

Huquira (Antares Minerals) (Cu)

Tintaya (Xstrata)(Cu/Au)

Orcopampa (Buenaventura)(Au/Ag)

Yanacocha (Newmont/Buenaventura) (Au)

Lagunas Norte (Barrick) (Au)

Constancia (Norsemont) (Cu)

Pierina (Barrick) (Au)

ANTA (Ag)

EGNONE (Au/Cu)

Production Exploration

NEW CHALA PLANT (Au)


3 YEAR CHART HISTORY: ADVANTAGE DYNACOR OVER MINERS

All time high of $2.13 as of Feb 4, 2011

$1.34 as of Feb 5, 2013

Van Eck GDXJ

“Juniors”


Purchase ore

Receive ore by truck

Weigh and assay ore for gold content Dynacor pays miner

based on gold content and discount to

spot price

Ore is processed

through plant

Gold bars are sold at spot price

ORE-PROCESSING STEPS


NEW CHALA GOLD PROCESSING PLANT DEVELOPMENT TIMELINE

2012

•Two participative community workshops successfully completed

•Submission of Environmental Impact Assessment – done

•Hydrological study – done

•Purchase of land – done

•Engineering plan – done

•Construction plan – done

•Environmental Impact Assessment - received permit in Dec

Construction phase

Q2-2013

•Construction of phase 1 begins immediately upon receipt of the construction permit

•Construction of the tailings pond

Production

2014

•Testing the new plant Q1-2014

•New plant commissioned and in operation Q1 - 2014

•Upgrading plant to 600 tpd


• Unlimited space for tailings pond • Mining friendly

region • Access to a

region with an abundance of

gold ore

Power from the National Grid (lowers production

cost)

Easy access for heavy trailers

Dynacor has an ore purchasing office in

the area and is recognized as a reliable honest

business partner

KEY BENEFITS TO THE NEW ORE-PROCESSING FACILITY AT CHALA


New Government formalizes and regulates

the artisanal mining sector

New mining laws in force since March 2012

Improves working

conditions

Environmental

protection

Increases government tax

revenues

Increased demand for legally compliant

ore-processing

A window of opportunity for

Dynacor’s ore-processing

division?

NEW MINING LEGISLATION PRESENTS OPPORTUNITY


TUMIPAMPA: FLAGSHIP MULTI-MINERALIZED GOLD PROJECT

Drilling campaign resumed in

early December, 2012

First set of drill results

expeceted in late April, 2013

First phase: 12 holes

approximately 250-300 meters deep targeting one zone

2 exploratory drill holes from

previous drill campaign in 2011

identified edge of skarn structure

Molybdenum was intercepted indicating the pathfinder to

skarn/porphyry type deposits

Skarn

Zone 4

Gold Veins

(15) To date

Disseminated

Breccia

MANTO DORADO

Very important high grade

gold/silver structure discovered

on Tumipampa

Channel samples of 4.9 meters of

8.1 g/t of gold

Commenced an underground

cross-cut campaign in early

December, 2012

Starting first NI 43-101

resource calculation

ROSA VEIN

New vein discovered in early

2000’s intercepted 6.0 meters of

7.3 g/t of gold

“The brecciated locally

mineralized quartzite capping large parts of the

property could indicate deeper sources of mineralization.

For example, Barrick’s deeper Laguna Norte Deposit (9M oz) is

hosted in brecciated quartzites where

the gold is finely disseminated in the quartzites on

the flanks of an antiform in contact with a diatrem.”

ALAIN-JEAN BEAUREGARD, P. GEOL., OGQ, FGAC, AEMQ, NI 43-

101 TECHNICAL EVALUATION REPORT ON THE

TUMIPAMPA PROPERTY NOVEMBER, 2011


TUMIPAMPA

Los Chancas / Souther Peru Copper Corp. (32) 355 MT @ 0.62%Cu, 0.07% Mo, 0.039 g/t Au

Las Bambas / Xstrata (36-35) 1,710 MT @0.61%Cu, 0.02%/t Mo, 0.11g/t Au

Tintaya/ Xstrata (42; 35-33) 200 MT @1.15%Cu

Antapacay/ Xstrata 720 MT @0.56%Cu

Antapite / Buenaventura 221.23 koz Au, 0.33 moz Ag

Orcopampa / Buenaventura 2098.40 koz Au, 70.26 moz Ag

Arcata / Cía Hochschild Mining 163.71 moz Ag, 481.33 koz Au

Pallancata / Cía Hochschild Mining 169.63 koz Au, 19.79 moz Ag

Selene / Cía Hochschild Mining 121.09 moz Au, 17.91 moz Ag

Ares / Cía Hochschild mining 1210.75 koz Au, 19.79 moz Ag

Caylloma / Minera Bateas S.A.C. 600.02 koz Au, 51.68 moz Ag

Shila-Paula / Buenaventura 653.13 koz Au, 6.13 moz Ag

APURIMAC COPPER PORPHYRY-SKARN BELT

EPITHERMAL GOLD SILVER BELT

Ataspaca (40)

Ticnamar (41)

Queen Elizabeth (36)

Qda Blanca Collahuasi-Ujina (35-32)

El Abra – Conchi (37-36)

Chuquicamata MM-Tomic (34-31)

Esperanza Telégrafo (42-41)

Centinela Polo Sur (44)

Gaby (42-40)

Escondida – Escondida Norte Saldivar (38-35; 35-31)

Chimborazo (39-38)

Exploradora (33-32)

El Salvador (44-41)

Potrerillos (36-35)

La Fortuna (35-32)

Apolinario (35)

Apolinario (35)

Constancia / Norsemont. 413 MT @ 0.44 % Cu, 0.01% Mo

Haquira/ First Quantum 1,193 MT @ 0.50% Cu APURIMAC BELT

The Belt is an extension of the world renown Chilean copper porphyry belt Exclusive to Peru the belt holds the geological distinction of hosting copper /gold mineralized skarns The skarns layered on top of the porphyries often contain higher grade mineralization

Pierina / Barrick 771 koz Au

TWO KEY MINERALIZED BELTS SITUATED ON TUMIPAMPA

TUMIPAMPA: GEOLOGICAL CONTEXT

Straddles the Apurimac belt which hosts the porphyry-copper and base metals

rich skarn deposits located within the Abancay deflection zone:

Las Bambas (Xstrata Copper) ($4.2B mine development approved) *Los Chancas (Southern Copper Corp) (feasibility study to be announced in Feb/13) Haquira (Antares Minerals) (Received $460M from First Quantum) in 2011 Constancia (Norsemont) (Received $520M from Hud Bay Mining) in 2011

Additionally Tumipampa is located within a gold-silver rich belt of epithermal

veins which host several key hydrothermal deposits:

Orocopampa (2M Au ounce) Pierina (770K Au ounce) Ares (1.2MM Au ounce) Arcata (163K Au ounce) Caylloma (600K Au ounce) Shi-Paula (653K Au ounce) Selene-Pallancanta (300K Au ounce) Antapite (220K Au ounce)

* As of May 2012 immediately adjacent to Tumipampa’s western border.


TUMIPAMPA: TARGETING RESOURCE VALUATION

Name of Property Owner of Property Tons of Ore Cu % Au g/t Valuation at $0.10 pound Cu

Las Bambas Xstrata 1.7 Bt 0.77% 0.06 $2.7 billion

*Los Chancas Southern Copper 355 Mt 0.62% 0.04 $440 million

Tintaya Xstrata 195 Mt 1.15% 0.23 $449 million

Antapacay Xstrata 720 Mt 0.56% 0.12 $806 million

Haquira First Quantum 976 Mt 0.60% 0.04 $1.2 billion

Constancia Hudbay Mining 277 Mt 0.43% 0.05 $238 million

* As of May 2012 immediately adjacent to Tumipampa’s western border.

Dynacor has 36.2 million shares outstanding

Dynacor “Tumipampa”

9,000 m drilled to date (8,000 m

underway) Targeting first

43-101 resource

Hudbay Mining “Constancia”

277Mt, 0.43% Cu Acquired March/11

$520M ($0.10/lb Cu)

$1.5B in development

First Quantum “Haquira”

569Mt, 0.64% Cu Acquired Oct/10

$460M ($0.06/lb Cu)

Panoro “Antilla”

154Mt, 0.47% Cu 15,332 m

drilling to date

Panoro “Cotobambas”

404Mt, 0.42% Cu (204M shares outstanding)

TUMIPAMPA: IN A DEVELOPING MINING DISTRICT

Southern Copper (Grupo Mexico) “Los Chancas”

355Mt, 0.62% Cu $1.2B projected

development budget

Xstrata “Las Bambas”

1.7Bt, 0.60% Cu $5.2B in

development

A NON-DILUTIVE GOLD COMPANY

0 km 80 km

West East

$8 Billion in development and 3.6 Billion tons of

ore discovered to date

Bear Creek “La Yegua”

Cu/Au project Joint Venture with Japan (JOGMEC) Drilling campaign

underway

BHP, Golden Ideal Mining and Super

Strong Mining from China

recently staked claims adjacent to

Tumipampa

0 km

An Emerging Copper/Gold

Belt

60 km

BRECCIA

Poctococha Lagoon

Balsacocha Lagoon

Patacocha Lagoon

Skarn (E) Cu-Au

Skarn (W) Cu-Au

Gold veins

Disseminated gold

Zone 4

Colonial gold-rich tailings

Cross-cut tunnel location

Zone 4 drilling targets

0 1 km

15 gold veins discovered to date Ancient drifts from Spanish colonial period 2 old stock piles discovered by Tumipampa River Project consists of three types of gold mineralization: Skarn, Gold Veins and

Disseminated Gold associated with Breccias

TUMIPAMPA: 3D MAP


TUMIPAMPA: MANTO DORADO CROSS-CUT 330 NW


A crosscut tunnel driven west to the Rosa Vein is expected to intersect

additional gold veins.

HDD-06

HDD-11

3.25m (0.65 m, 13.80 g/t Au)

7.39m (2.76 m, 6.33 g/t Au)

HDD-07, 09

0.34m (0.34 m, 17.70 g/t Au)

1.38m (1.38m, 1.87 g/t Au)

15.00m (1.20 m, 23.80 g/t Au)

Intrusive

6.69 g/t Au, over 4.90 m

MANTO DORADO

outcrop

4600

4550

4500

4450

4400

4350

4300 4300

E

4400

4350

Quartzite

W

2.00 m, 12.25 g/t Au

Argilic Alteration

Cross Cut 330 NW

SKARN

ROSA VEIN

6.0 m of 7.3 g/t gold

MANTO DORADO

CROSS-CUT ENTRANCE CAMP SITE

PREVIOUS CHANNEL SURFACE RESULTS

4.9 m of 8.1 g/t gold

TUMIPAMPA SKARN/MANTO DORADO/ROSA VEIN


FINANCIAL OVERVIEW

Dynacor Gold Mines: An auto financed gold company: operating an ore-processing division to generate gold sales that fund the exploration of high-reward mineral properties.

”Dynacor Gold Mines is NOT a diluting asset.”

2013

• New ore processing Plant at Chala under construction

2013

• Tumipampa: drill results advancing exploration of the Cu-Au skarn

Commence first NI 43-101 report on the resources

Bulk sampling of the Cross Cut at Manto Dorado and underground veins

2014

• Increase ore processing capacity at the Chala Plant to

600 tpd

Feasibility study of an ore processing plant at Tumipampa

Underground development in the veins zone

HORIZONS 2013-2014


• Toronto Stock Exchange – Symbol: DNG

• Shares issued : 36.2M

• Options : 2.5M

• Fully diluted shares : 38.7M

• Share price : $1.27 (2013)

• Capitalization : $45.9M CAD

Capitalization

March 28, 2013


Others

Trapeze Asset Management

Sprott Asset Management

National Bank Wealth Management Group

JP Private Investor Group

Higher Ground Private Investor Group

Wunderlich Securities

CIBC Wood Gundy

Caisse de Depot

Marmite Capital AG

Neuberger Berman

KEY SHAREHOLDERS


Experienced and well-balanced team with expertise in:

Geology/Exploration Metallurgy Mine building/engineers Underground/surface mining Custom milling Business management Finance Marketing

Since the inception of Dynacor Gold Mines Inc. in the fall of 2007, the management team has remained focused on a disciplined capital structure, via generating cash flow from its ore-processing division, to unlock the greater shareholder value through the exploration of its 100% owned Tumipampa advanced gold exploration project. Management strives to avoid dilution of its shareholders by repeated financings that typify the junior gold exploration sector.

JEAN MARTINEAU, PRESIDENT AND CEO • 20 YEARS EXPERIENCE IN THE RESOURCE INDUSTRY IN CANADA AND SOUTH AMERICA

• FORMER DIRECTOR OF WESDOME GOLD MINES 1999 – 2007

LEONARD TEOLI, VICE PRESIDENT AND CFO • 20 YEARS EXPERIENCE IN ACCOUNTING AND FINANCE EXECUTIVE • FORMER CFO OF DIA BRAS EXPLORATION 2003-2008 • STARTED CAREER WITH PRICE WATHERHOUSE 1987 – 1996 • MEMBER OF THE CANADIAN INSTITUTE OF CHARTERED ACCOUNTANTS SINCE 1990

JORGE LUIS CARDENAS, GENERAL MANAGER ORE-PROCESSING • MINING ENGINEER • MORE THAN 10 YEARS EXPERIENCE IN MINING (10 YEARS WITH DYNACOR)

ALONSO SANCHEZ, CHIEF GEOLOGIST • 15 YEARS EXPERIENCE AS A MINE AND EXPLORATION GEOLOGIST (EXPERT OF PERUVIAN GEOLOGY)

• FORMER GEOLOGIST OF PUBLICLY LISTED COMPANY BUENAVENTURA S.A.A FROM 1995-2006

• EXPERT IN EPITHERMAL GOLD, SILVER, TIN, TUNGSTEN, POLYMETALLIC DEPOSITS AND SKARNS IN PERU

MANAGEMENT


• Consistently increasing cash flow;

• Ramping up gold production in 2013;

• Drilling exploration property with significant geological potential (Cu-Au Skarn + 14 high grade gold veins );

• New drilling campaign underway;

• Low number of shares issued; • Business model protects against future

dilution;

Dynacor Gold Mines Inc. A Promising Future


Head Office

625, boul. René-Lévesque Ouest Suite 1105

Montréal, (Québec) H3B 1R2

(514) 939.9000

Investor Relations (604) 492.0099

www.dynacorgold.com

Dynacor: Corporate Presentation April 2013

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