SOURCE: Aultra Gold Inc.

June 30, 2008 09:00 ET

Aultra Gold Inc. Announces Corporate Actions to Secure First Round of Financing

Based on Initial Assessments at Properties Exceeding Expectation, Aultra Gold Initiates Funding

JACKSONVILLE, OR--(Marketwire - June 30, 2008) - Aultra Gold Inc. (OTCBB: AGDI) (http://www.aultragold.com/s/Home.asp) is pleased to announce that the Company has initiated the process of securing funding to advance the Company's gold projects. Negotiations have been initiated, and the Company expects to be able to disclose the completion of this funding within the next 45 days. Initial funding could be within two weeks.

Aultra Gold, Inc. is committed to the exploration, acquisition, development, and mining of precious metals and other mineral properties. The company conducts minerals development, including exploration, evaluation and development drilling, feasibility studies and ultimately, permitting, construction, and operation of mining properties.

In addition to obtaining financing of the properties already discovered, the company is also actively pursuing acquisition and merger candidates to continue the growth and diversification of the Company.

"We are acquiring properties that allow cost effective evaluation and development, with potential for strong cash flow. Our strategy is to raise the capital to acquire and advance potentially large gold properties such as Jungo and Basin Gulch, which we already control, and to acquire and discover additional high quality properties. Advancing these large properties will strengthen our shareholder base, and accordingly, shareholder value," stated Rauno Perttu, President of Aultra Gold Incorporated.

About Basin Gulch, Montana Property: Discovered by AGDI's chief geologist, the property has drilled and projected open-ended mineralization in excess of 2.45 million ounces. Aultra Gold, Inc. plans to expand and mine high-grade zones and to explore untested large-scale underground targets.

About the Jungo Property: Aultra was introduced to the property area by a local mining engineer, William Hansen. While investigating a previously recognized copper-stained vein, the company's geologist recognized and sampled an apparently younger silica-flooded alteration system in brecciated and silicified Paleozoic sedimentary rocks near their contact with Tertiary volcanic rocks.

Forward-Looking Statements: Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that Aultra Gold Inc. will be successful in its exploration and definition drilling. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.

Contact Information

  • Contact:
    Gibraltan Financial
    Daniel Baldridge
    Investor Relations
    407-834-9777