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July 8, 2011 /PRNewswire/ - Gold Dynamics Corp. (OTCBB:GLDN) ("Gold Dynamics" or the "Company") is delighted to announce the signing of a definitive agreement for the acquisition of the Santiago Gold Property with
Artemio Terrazas Arredondo and
Norma Velazquez Jurgeit (collectively referred to as the "Vendors") that formalizes the terms that were previously outlined in a letter of intent (see news release dated
June 15, 2011).
The agreement provides Gold Dynamics with an option to earn a 100% interest in the property from the Vendors. Under the terms of the agreement, Gold Dynamics will be required to make cash payments of
$435,000 over a two year period and commence a work program that would also incorporate a diamond drill program. The Vendors will retain a 2% net smelter return interest (NSR) on the property. Gold Dynamics can purchase 1% of the NSR for 700 ounces of gold or its equivalent in
United States dollars.
"We are very pleased to have finally concluded negotiations to conditionally acquire the Santiago Gold Property" stated Mr. Tie
Ming Li, President of Gold Dynamics. "The Santiago Gold Property has great opportunities for exploration and production of gold which is currently high and increasing in demand on world markets. This first acquisition is in line with our long term development."
For a full account of Gold Dynamics Corp. corporate objectives and contact information, please visit the website at
ABOUT GOLD DYNAMICS CORP.
Gold Dynamics Corp. is an emerging precious metals explorer focused on underexplored regions of the world that is seeking to grow shareholder value by building gold and silver mineral resources through systematic exploration. The Company has brought together a highly experienced board and management team consisting of capable professionals with significant development and mine management experience.