Jellicoe involved with all aspects of diamond exploration and project management

AngloGold Ashanti Limited acquired an 8.7% stake in Dynasty Gold Corporation, a Canadian mining company with projects in China, through a $2 million private placement in shares and warrants, the company said in a press release on Februasry 27, 2006. The proceeds of the AngloGold Ashanti investment will be used to fund further exploration of the Red Valley and Wild Horse projects, both located in the prospective Qilian region.

Dynasty Gold is a 70% stakeholder in three existing projects in northwest China viz. Red Valley in Qinghai, Wild Horse in Gansu and Hatu in Xinjiang. In addition to the equity investment, AngloGold Ashanti retains the right to enter into joint ventures at both the Red Valley and Wild Horse projects. The company will also be entitled to earn 55% in these projects by investing a total of $5 million over three years.

Richard Duffy, Executive Officer for Business Development said, �We are delighted to form this partnership with Dynasty Gold Corporation, which marks the next step in building our exploration presence in the prospective Qilian belt in China.�