SOURCE: Aultra Gold Inc.

August 18, 2008 09:00 ET

Aultra Gold Inc. Considers Strategic Alternatives

JACKSONVILLE, OR--(Marketwire - August 18, 2008) - The Board of Directors of Aultra Gold Inc. (OTCBB: AGDI) announced today that it is exploring and evaluating various financial and strategic alternatives for the Company, evaluating its current capital structure and strategic plan, in light of the current capital markets' environment for junior gold exploration companies.

Said Rauno Perttu, President, "We have witnessed dramatic changes in gold prices over the last three months; we must evaluate how we develop our projects, given the capital intensive nature of our enterprise. We must evaluate all potential funding strategies with respect to our near-term and long-term objectives."

Added Mr. Perttu, "We have charged our Board to explore and evaluate various financial and strategic alternatives for the Company and report back within the next two weeks. We are at a critical juncture in the development of the Company."

Aultra does not intend to comment further publicly with respect to any potential financial and strategic alternatives unless a specific transaction is approved by its Board of Directors.

On behalf of the Board,

Rauno Perttu, President

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 Information:
    Aultra Gold Inc.
    120 North Fifth Street
    Jacksonville, Oregon 97530
    Telephone (541) 702-2094
    Fax (541) 899-8124