Dakar Resource Corp.
TSX VENTURE : DKR

October 24, 2012 17:15 ET

Dakar Resource Corp. Completes Phase 2 Drill Program on NAP Claims and Extends Option Payment Date

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2012) - Mr. Allen Wilson, President and CEO of Dakar Resource Corp. ("Dakar") (TSX VENTURE:DKR), reports that a second phase drill program has been completed on its NAP copper-gold-silver-zinc exploration property 40 Km south of Kamloops B.C. The program targeted several intersecting and subparallel near surface IP anomalies. Management is assessing the program exploration results and a final report on the program from Dakar's geological consultant is expected in the next 60 days. Dakar expects to announce detailed results of the program following receipt of the consultant's report.

Dakar has paid the NAP property optionor $10,000 to obtain a two month extension of the next cash and share option payments due under the NAP property option agreement. This payment will also result in Dakar receiving a $4,000 cash credit and 20,000 share credit on the next option payment. Dakar is required to pay $16,000 cash and issue 80,000 shares on or before December 14, 2012 to keep the NAP property option in good standing.

ON BEHALF OF THE BOARD

Allen Wilson, President, C.E.O. and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Dakar Resource Corp.
    Allen Wilson
    President, C.E.O. and Director
    (604) 240-4349
    (604) 681-4760 (FAX)