SOURCE: Dana Resources

March 18, 2010 08:30 ET

Dana Resources Completes Due Diligence on Chota Silver Mine

LAS VEGAS, NV--(Marketwire - March 18, 2010) -  Dana Resources (OTCBB: DANR) (FRANKFURT: OD0), a US-based precious metals exploration and development company, is pleased to announce that its due diligence of the Chota Silver Mine is complete.

Dana Resources has been working diligently to complete its due diligence regiment in order to take advantage of rising commodity prices. A site visit was conducted by one of our Company's geologists, and the Company is satisfied with the data compiled in the draft 43-101 geological report. He also met with several of the local neighbours to discuss Dana's involvement with the community. Locals have expressed their satisfaction with the proposed infrastructure upgrades and Dana Resources' commitment to expand the development of the region.

Both natural resource and financial analysts forecast silver prices to soar in relative terms through the end of 2010 into 2011; a repeat of the 1970s. Facts and fundamentals justify the price of silver as it remains significantly undervalued on an historical basis, and is furthermore undervalued when compared with gold. Silver rose from under $1.50 per ounce in 1970 to nearly $50 an ounce in 1980, increasing by some 2,400%. If silver were to replicate that increase, it would rise from $4.37 per ounce seen in 2001 to $110 per ounce over the next few years.

The Chota Silver mine's district is also no stranger to global financiers, as neighbours include Barrick Gold Corp.'s Lagunas Norte mine with a reserve of 8.9 million ounces of gold and Pan American Silver's famous Quiruvilca polymetallic deposit.

Dana Resources intends to close the transaction as soon as possible and looks forward to announcing the revenue generated by the mine.

This acquisition is a significant milestone in Dana's history as the company moves from an exploration and development resource company to a development and mining company.

About Dana Resources

Dana Resources is a precious and base metals exploration company with offices in the United States and Peru. Dana's management team possesses local knowledge, extensive international connections, a wealth of experience and technical expertise in mining, mining finance, exploration and production. Dana Resources has acquired a portfolio of gold, silver and other precious & base metal properties located in Peru's most prolific mining regions. With Peru growing as a producer of gold, silver and other metals on the international market, Dana Resources is well positioned to capitalize on the escalating global demand for commodities. The management team and Directors are committed to creating value for their shareholders and to the long-term success of Dana Resources.

Forward-Looking Statements

The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

On Behalf of the Board,


Len De Melt

Dana Resources

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