The age of the Earth and evolution of life?

Assuming dinosaurs actually did exist and did so millions of years before humans... How does the the teachings of Islam explain the time that has passed and all of the other life forms that came and went extinct long before modern human life existed at all? It is known that 90-95% of all life that ever existed on this Earth was already extinct long before the great flood mentioned in holy texts. How does Islam address the pre-modern Primates, we are Primates too, that were here long before us?