SOURCE: Drake Gold Resources, Inc.

October 25, 2006 09:59 ET

Drake Gold Announces the Addition of a New Vice President

SCOTTSDALE, AZ -- (MARKET WIRE) -- October 25, 2006 -- Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is pleased to announce the signing of Dave Zamida as Vice President of Strategic Operations.

As president and CEO of Royal Okanagan Mining, Dave's mining experience has been gained vastly through his focus on acquisition, exploration and development of mineral deposits of the Canadian Cordilleran region (British Columbia) and Abitibi Greenstone belt (Ontario). He currently manages a vast portfolio of high priority placer and mineral targets with gold, platinum, copper and nickel properties spanning 30,000 acres and growing, and additional interests in plutonic deposits such as uranium, gemstones and geothermal resources. The company's clientele includes public and private mining companies and investors.

In addition to his mining experience, Dave's financial and marketing background is relevant and diverse. Marketing experience includes sales and consultation with key corporate accounts for one of the largest publicly traded media brands worldwide, currently and for the last 6 years. As such he is responsible for extensive improvements to business models within his niche.

Dave's 9-year financial competencies include tenure as senior recovery officer for national lenders and crown corporation portfolios, including 3 years with Equifax Risk Management. Dave has also been engaged as an independent business development consultant.

Said of his recent engagement with Drake, "Drake Gold's collaboration of infrastructure and focused, attentive management earmarks itself for success as an innovative junior miner. Through already extensive liaison, Drake's board members clearly demonstrated a shared sense of vision, urgency and feasibility. In the coming months, we expect to see these values crystallized by the output of the Jackpot mine in Arizona."

Clayton Smith, interim CEO and President said, "Appointing Dave as Vice President of Strategic Operations reinforces my vision of a strong management team that will take Drake Gold to the next level. Dave's expertise in the mining arena and his current connections in placer mining will help us strengthen our diversified placer operations. Coupled with our project manager Norm Pearson's selection of properties, Drake Gold is clearly rich with opportunity."

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Drake Gold Resources, Inc. (PINKSHEETS: DKGR) is an early-stage mining and energy company that focuses on the exploration and production of precious metals and energy, such as petroleum and coal. Drake Gold has acquired the rights to the Jackpot Placer Project (JPP) in a southwestern section of Arizona. Estimated reserves on the JPP are 205,000 oz. Operations to recover gold are planned as soon as possible.

DKGR intends to be a diversified company by operating in the natural resource, petroleum, and alternative energy markets. As a result of ever-increasing scarcity, the market for natural resources is clamoring for diversification and innovative exploration tactics. Potential opportunities for diversification include gold, silver and other minerals in areas such as Arizona, Oregon, Alaska, British Columbia, the Yukon Territories, and other affiliated sections throughout gold districts in Northern Mexico. Drake Oil & Gas division has prime targets extending from South Texas to the Barnett Shale in Texas, from California to Louisiana.

This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

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