Dynamic Resources Corp. Announces Late Filing Of Annual Financial Results

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Dynamic Resources Corp. ("Dynamic" or the "Company") today announces that the filing of its annual financial statements, management's discussion and analysis and related CEO and CFO certifications for the year ended December 31, 2008 (the "Required Filings"), will be delayed beyond the filing deadline of April 30, 2009. Dynamic has been advised that additional time is required to complete the audit of the annual financial statements due to a delay in receiving the engineering report for its oil and gas resource assets which is being prepared by H.J.Gruy and Associates, Inc. The reserves report is expected by May 30, 2009.

Dynamic currently plans to remedy the default and file the Required Filings as soon as it is able to do so. Dynamic also intends to satisfy the provisions of the alternate information guidelines of section 4.4 of National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203") as long as it is in default of the filing requirements. These provisions require Dynamic to file a bi-weekly default status report, in the form of news releases, containing any material changes to the information in this release; all actions taken by Dynamic to remedy the default; particulars of any failure by Dynamic to fulfill these provisions; any subsequent defaults of Dynamic requiring a default announcement; and, any other material information concerning the affairs of Dynamic not previously disclosed. Dynamic intends to issue the first default status report on May 7, 2009.

This default announcement is made under section 4.3 of National Policy 12-203, which came into effect September 1, 2008, and replaces previous policies under which provincial securities commissions could grant extensions to filing deadlines.

Information Regarding Forward-Looking Statements:

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the inherent uncertainties and speculative nature associated with oil and gas exploration; (ii) any number of events or causes which delay or cease exploration and development of Dynamic's property interests such as environmental liabilities, weather, mechanical failures, safety concerns, labour problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that Dynamic does not execute its business plan; (v) the inability to retain key employees; (vi) changes in the prices of oil and gas; (vii) Dynamic's inability to finance its operations or growth; and (viii) the inability to obtain all necessary government, environmental and regulatory approvals. These forward-looking statements are made as of the date of this news release and Dynamic assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Dynamic believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in Dynamic's periodic reports filed from time-to-time at www.sedar.com

SOURCE: Dynamic Resources Corp.

Robert Fedun, President and CEO, (702) 743-1343, Website:
www.dynamicresourcescorp.com

Related terms: business, ceo, exploration, finance, government, oil and gas, property, securities, trade, weather