SOURCE: Drake Gold Resources, Inc.

April 18, 2008 08:30 ET

Drake Gold Resources Announces a Time Frame and Event Table for the Permitting Process in Georgia

With the Help of the Recently Announced Addition of Harbin Engineering P.C., Drake Has Obtained an Estimated Time Frame and Event Table

ATLANTA, GA--(Marketwire - April 18, 2008) - Drake Gold Resources (PINKSHEETS: DKGR) Drake Gold Resources, Inc. announces the estimated time frame and event table for the permitting process. Harbin Engineering P.C., retained on April 4th to expedite this process, has submitted to Drake's management an estimated time frame supported by the following table.

Expectations for the standard permitting process, including zoning as summarized in our press announcement, is approximately four to five months. According to Harbin's estimates Drake Gold Resources should obtain the necessary permits to begin mining operations by the third quarter or fourth quarter of 2008 at the latest.

Drake Gold Resources Inc. is pleased to provide the Harbin Engineering P.C. Event Table outlining the necessary actions taking place.

EVENT TABLE

1. Visit County offices, collect data on rezoning, property tax maps, and clean copy of the platted property. (Completed)

2. Obtain quotes for aerial topographic mapping of the property. (In process)

3. Retain aerial mapping firm and complete mapping. (In process)

4. Meet with Drake Gold staff to determine the phasing schedule and locations of mining infrastructure.

5. Complete required documents to file with County for rezoning (this will include a site plan, topographic survey, and property survey).

6. Obtain rezoning.

7. Prepare application and plans for mining, erosion and sediment (E&S) control and NPDES for the site.

8. Submit plans to Drake Gold for review and approval.

9. Submit plans to County and EPD for review and approval.

10. Obtain Permits.

11. Begin site infrastructure construction.

12. Begin Mining Operations.

Drake management will continue to work diligently with Harbin Engineering P.C. on-site to move forward with the events listed above. Ongoing updates will be made available through press releases.

ABOUT DRAKE GOLD RESOURCES, INC.

Drake Gold Resources Inc. is a development stage mining company that focuses on the exploration and production of precious metals. The Company has a distribution agreement for Dove Mining Equipment which has yielded several opportunities for expansion. Announcements will be made as details are made available.

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

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: 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 market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The reader is advised to read our full Legal, Disclaimer, and Forward Looking Statements by clicking here: http://www.drakegold.com/privacy_policy.asp

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