SOURCE: Drake Gold Resources, Inc.

March 11, 2008 12:15 ET

Drake Gold Resources Announces Successful Sampling of Target Property in Georgia

Drake Gold Resources Review of the Samples Indicates Placer Values as High as .47 Ounces per Ton

PORTLAND, OR--(Marketwire - March 11, 2008) - Drake Gold Resources (PINKSHEETS: DKGR) is pleased to announce the successful completion of sampling from the initial target area in Georgia.

Drake's management mining plan called for independent analyses from two different labs to ensure accuracy of sampling. As indicated on the Company's blog and in past press updates, Drake management identified its initial target area in Georgia and did depth sampling, digging seven trenches and sampling from each zone to determine the gold resources.

With the help of both ALS Chemex in Sparks, Nevada and Southern Spectrographic Laboratory in Irving, Texas, Drake was able to process 42 samples in total. The majority (35 out of 42) of the samples all showed gold values from unconcentrated grab samples with a maximum placer sample of .47 ounces per ton and a hard rock sample running as high as 4.23 ounces per ton.

Drake's plan has been focused on the placer grades from previous assays, while the discovery of the high-grade hard rock has management focused on possibly bringing in crushing machinery to maximize the potential of this target. The next steps toward translating our discoveries into cash flows are securing the necessary permits with all the state and county agencies while awaiting the arrival of our Dove Mining Equipment, the Explorer 500, which is expected to process 50 tons per hour at capacity. (Check out Drake's website, blog and newsletter for further updates concerning these steps and timeframes.)

"These samples have been one of the final steps Drake needs to secure its plans in Georgia. We are very pleased with the consistency of all rounds of sampling," stated John Marconette, Drake Gold's President. "My team and I will be heading to Georgia in the next two weeks to submit the permits, zoning, and finalize the leases of additional target areas in that region and neighboring locales."

ABOUT DRAKE GOLD RESOURCES, INC.

Drake Gold Resources, Inc. is in the midst of creating a diversified natural-resource holding company, with a portfolio of precious and industrial metal-producing mines, as well as the creation of an oil/gas subsidiary.

For further information about Drake Gold Resources please visit our website at http://www.DrakeGold.com and blog at http://www.drakegold.blogspot.com.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Based upon industry standards Drake would be considered highly speculative. Additional risks to consider and that may apply: failure to meet financial and contractual obligations, managerial errors made due to the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. 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.

Contact Information