SOURCE: Drake Gold Resources, Inc.

September 21, 2007 17:00 ET

Drake Gold Resources, Inc. Reaches Turning Point Regarding Jackpot Placer Project

Drake Gold Resources, Inc. Releases Preliminary Geological Investigation According to Its Defined Formula Delivering Results

PORTLAND, OR--(Marketwire - September 21, 2007) - Drake Gold Resources (PINKSHEETS: DKGR) has received a report from independent geological survey firm The Gault Group of Phoenix, AZ. The report, while inconclusive, has shown that the property possesses significant amounts of silver and copper but undefined levels of gold. While bulk sampling is a necessary next step to determine an accurate assessment, management feels that the project must be reevaluated in terms of its lease. "The Gault Group report was promising in terms of both silver and copper, both of which have continued to increase dramatically in value. The report though has contradicted some of the conclusions drawn in earlier findings as they relate to gold, which has been the impetus for our plan to renegotiate," according to president John Marconette.

Diversifying the portfolio of assets with the production of both base and precious metal production can only increase the strength of DKGR. President Marconette went on to state, "We see the full spectrum of metal prices continue to gain ground with Chinese, among others, industrial demands outpacing worldwide mining production. As we await the inevitable onset of inflation [along with uncertainty, a main component in rising gold prices] we can depend on the multiple revenue centers of gold, silver and copper production. Having said that we will seek an even better lease agreement for this project to benefit our shareholders."

As DKGR moves to renegotiate the Jackpot Placer Project, per the guidelines of its Mining Projects Executive Summary, the potential renegotiation of terms will be fundamentally based on our ability to bulk sample the project to better define its true potential. The company is also moving aggressively on a number of other fronts. DKGR is finalizing leases and exploration agreements in GA with its joint venture partner, Southern Mining and Exploration. The company will release preliminary samples on at least one of its new properties in the expanding portfolio as part of the next step of its formula.


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Drake Gold Resources Inc. is in the midst of creating a diversified natural resource company, with a portfolio of precious and industrial metals producing mines as well as the creation of an oil and gas subsidiary. As a result of ever-increasing demand and the resulting scarcity, the market for natural resources becomes increasingly profitable.

Diversification and innovative exploration tactics are part of an overall strategic plan that is being carried out by the company's formidable team of natural resource development executives. Diversification plans include the development of gas, oil, gold, silver and industrial metals producing projects. For further information about Drake Gold Resources please visit our website,

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 and 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 you should consider, this list is limited and additional risk not mentioned may apply: failure to meet Drake's financial and contractual obligations, Drake's managerial errors made based upon 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.

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