SOURCE: Dana Resources

September 18, 2009 08:30 ET

Dana Resources Reports Gold Price Surges Over $1000 per Ounce

Many Analysts Revising Valuations Upwards

LAS VEGAS, NV--(Marketwire - September 18, 2009) - (OTCBB: DANR) (FRANKFURT: OD0) -- Dana Resources is a US-based precious metals development company with advanced stage gold and base metal properties in Peru. Management has comments on the recent surge in the price of gold and the increased value of its 100% owned Collota gold deposit.

Industry source Mineweb "selected 46 potential listed gold stock takeover/merger targets and divided each company's market value (issued shares multiplied by stock price) by its gold ounces-in-the-ground. The per ounce of gold valuation depend(ed) on a wide range of factors, including cash cost per ounce, quality of gold deposits given factors such as grade, geographical spread of operations, depth of mining, forward projections of growth in gold production, and so on... It is becoming clearer that the (increasingly rare) generation of free cash flow by gold mining companies is not considered a serious factor. The average per ounce of gold valuation for 46 potential listed gold stock targets computed at around US$79."

Mr. DeMelt, Dana Resources' President has commented, "Gold is building a new base at $1000 USD per ounce and we believe this trend will continue to appreciate. Strong demand for gold and a weakening US dollar continue to drive the price of gold up. Dana is trading at a fraction of its in-situ value of $1.82 per share based on recent gold prices."

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.

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 Dana Resources control with respect to the 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 Dana Resources' filings with the Securities and Exchange Commission.

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