SOURCE: Dutch Gold Resources, Inc.

December 30, 2009 09:00 ET

Dutch Gold Resources Outlines Plans for 2010 and Announces Management Changes

ATLANTA, GA--(Marketwire - December 30, 2009) - Dutch Gold Resources, Inc. (http://www.dutchgoldresources.com) (PINKSHEETS: DGRI) today announced the Company's plans going forward for 2010 and management changes to facilitate maximum growth in the coming year.

With regard to the Company's strategy for 2010:

Dutch Gold expects to make application to the Toronto Stock Exchange during First Quarter 2010. Management has undertaken steps to bring DGRI fully reporting by the end of January 2010. In a transaction aimed at expanding the ability of the Company to participate in the mining segment, Aultra Gold Resources, Inc. will become a subsidiary of DGRI, and remain publically traded, with a well defined business plan. Announcements will be forthcoming as to the nature of the Aultra plan by the end of January.

Growth and Acquisitions:

During First and Second Quarters of 2011, Dutch will focus on developing value in the Basin Gulch properties and the Jungo properties. The activities will include various drilling initiatives designed to further define the size and quality of the ore bodies in each project. During that same time frame, the Company expects to develop a long-term approach to optimize the value of the Benton Mine, and make capital allocation plans accordingly.

The Company is currently soliciting potential acquisitions of producing properties, ranging in approach from financing growth of potential joint ventures, to the outright acquisitions of production companies that are capital constrained.

Management believes that this combined approach has the potential significantly add to shareholder value, particularly, given the current macroeconomic conditions and the continued growth in gold prices.

Management Changes:

"We are very pleased to announce the appointment of Rauno Perttu, who will assume the role of Chief Operating Officer, and will join the Board of Directors," said Dan Hollis, CEO of Dutch Gold. "Mr. Perttu is an accomplished geologist, with a robust network of professional colleagues who are geologists and mining engineers. His success at finding large systems is well substantiated and we look forward to his contributions as COO of Dutch Gold Resources."

Further, the Company expects to appoint a Chief Financial Officer in the next three months. The search has been commissioned to find a seasoned growth oriented CFO with significant mining experience, and cross border compliance expertise. In the interim, the Company is utilizing experienced staff on a contract basis, as it updates its financials and SEC filings.

The Company will also realign the Board of Directors, in preparation for applications to the Toronto Exchange, as well as others. The Company expects to announce the realignments within the next week.

About Dutch Gold Resources:

Dutch Gold Resources, Inc. is engaged in the production and development of gold reserves in North America. The company's strategy is to focus on overlooked resources that can be quickly and cost-efficiently brought into production, and to seek out potentially significant exploration targets in high value geographies. The Company is currently negotiating three transactions, which, if and when completed, could significantly increase the company's holdings. DGRI management has strong experience in mergers and acquisitions, as well as corporate finance.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The company assumes no obligation and does not intend to update these forward-looking statements.

Contact Information

  • Contact:
    David K. Waldman
    Klea K. Theoharis
    Crescendo Communications, LLC
    (212) 671-1020